Property Listing
Description
Amazing value add opportunity awaits! Prime 6 unit building in the growing Longfellow neighborhood! All the heavy lifting done with recent updates and unit turns, leaving just the leasing left to do! Two long term tenants remain in the building giving you a stable base of reliable income to start. Four units freshly turned and renovated giving the new owner the opportunity to place new tenants at market rate. Too many updates to list, see the supplements for a full list of improvements. New high efficiency boiler/hot water heater combi unit along with many new energy efficient appliances account for the extremely low operating cost as seen in the financials. Run your own numbers, but conservative estimates on rent with actual expenses have the building at a 7.6 cap, with aggressive rents hitting over a 9 cap. Schedule your showing today, and scoop up this cash flowing asset before its gone!
Property Information
Status: Active
Sub Type: ********
List Price: $699,000
MLS#: 6770334
Current Price: $699,000
Address: 2818 E 31st Street, Minneapolis, MN 55406
City: Minneapolis
State: MN
Postal Code: 55406
Geo Lat: 44.946992
Geo Lon: -93.230647
Subdivision: Libbys Add
County: Hennepin
Property Description
Year Built: 1960
Lot Size SqFt: 4356
Gen Tax: 11051.6
Specials Inst: 0
High School: ********
Square Ft. Source:
Above Grade Finished Area:
Below Grade Finished Area:
Below Grade Unfinished Area:
Total SqFt.: ********
Style: ********
Total Bedrooms: 10
Total Bathrooms: 6
Total Full Baths: ********
Garage Type:
Garage Stalls: 0
Waterfront:
Property Features
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Roof:
Foundation:
Lot Feat/Fld Plain:
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Inclusions: Building
Exterior Amenities:
Heat System:
Air Conditioning:
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