MLS#6783249
STATUSActive
PROPERTY TYPECommercial - Business
SCHOOLMinneapolis
Property Description
Turnkey investment with upside potential! This cash-flowing 5+ unit apartment building delivers reliable income with historically low vacancy and strong rental demand in the area. All units are 1-bedrooms that have been updated with modern kitchens, bathrooms, and flooring?reducing maintenance costs and attracting quality tenants. A flexible studio in the basement provides additional opportunity: it was previously part of a 2BR/2BA unit and, with city approval, could become a 6th legal unit to further increase returns. Recent capital improvements include a new water heater, newer boiler, and surface parking for tenants in the back. Seller will contribute 1% towards a buyer's interest rate buy-down with an acceptable offer?enhancing your cash flow from day one!
Property Features
Property Type: Commercial - Business
Cooling: Wall Unit(s)
Fuel Type: Natural Gas
Heating: Boiler
Lot Size: 0.15 Acres
Stories: 3.0
Taxes: $8,043
Year Built: 1961
Feature Descriptions
Appliances: Range, Refrigerator
Basement: None
Current Use: Residential
Days on Site: 237
Foundation Size: 1600
Lot Dimensions: 50x127
Owners Expense: Trash Collection, Water
Parcel#: 0902924130061
Parking: Open
Road Frontage: City Street
Sale Includes: Building, Rental License
Sewer: City Sewer/Connected
Tenant Expenses: Electricity, Gas
Units: 6
Utilities: Electric Separate, Heating Common
Water: City Water/Connected
Local Schools
School District: Minneapolis
Listed By / Shown By
Listed By
Agency Name: Edina Realty, Inc.
Agency Phone: 952-927-1100
Shown By
Agency Title: Joel Hentges - Re/Max Advantage Plus
Agency Phone: 952-475-9541
3311 Fremont Avenue N | MLS# 6783249
This commercial property located at 3311 Fremont Avenue N, Minneapolis, MN 55412 is currently listed for sale with an asking price of $500,000. Fremont Avenue N is located within the Minneapolis school district. Search Minneapolis real estate on www.homesbyjoel.com today.