MLS#7049047
STATUSActive
PROPERTY TYPECommercial - Business
SUBDIVISIONWilliams Add
SCHOOLMinneapolis
Property Description
Well-maintained 8-unit apartment building offering consistent in-place income and long-term ownership stability. Fully occupied with a mix of one-bedroom and studio units, generating over $100,000 / year in rental income.This property is enrolled in the Minneapolis 4D Affordable Housing Program, providing a significant property tax reduction and enhancing overall cash flow ? an attractive feature for investors seeking reliable returns.Recent ownership has focused on maintaining a clean, functional property with stable tenancy, making this a true turnkey opportunity. Building features include coin-operated laundry, separate electric, and practical unit layouts that support consistent occupancy.Additional upside potential exists through continued rent optimization and operational efficiencies.Ideal for investors seeking: Strong day-one cash flow, tax-advantaged ownership and a stabilized asset with operational upside.
Property Features
Property Type: Commercial - Business
Cooling: Wall Unit(s)
Fuel Type: Natural Gas
Heating: Boiler, Hot Water, Radiator
Lot Size: 0.17 Acres
Roof Type: Flat, Rubber
Stories: 2.0
Taxes: $2,329
Year Built: 1971
Feature Descriptions
Appliances: Gas Water Heater, Range, Refrigerator
Basement: None
Current Use: Residential
Days on Site: 48
Exterior: Frame
Foundation Size: 2384
Lot: Tree Coverage - Light
Lot Dimensions: 60 x 123
Owners Expense: Gas, Heat, Hot Water, Insurance, Grounds Care, Repairs, Sewer, Snow Removal, Taxes, Trash Collection, Water
Parcel#: 0202824120153
Parking: Concrete
Road Frontage: City Street
Sale Includes: Building, Land, Leases
Sewer: City Sewer/Connected
Tenant Expenses: Electricity
Units: 8
Utilities: Electric Separate, Heating Common, Hot Water Common
Water: City Water/Connected
Local Schools
School District: Minneapolis
Listed By / Shown By
Listed By
Agency Name: Peritus Real Estate
Agency Phone: 612-554-7794
Shown By
Agency Title: Joel Hentges - Re/Max Advantage Plus
Agency Phone: 952-475-9541
3033 15th Avenue S | MLS# 7049047
This commercial property located at 3033 15th Avenue S, Minneapolis, MN 55407 is currently listed for sale with an asking price of $775,000. 15th Avenue S is located within the Minneapolis school district. Search Minneapolis real estate on www.homesbyjoel.com today.