MLS#7068138
STATUSPending
PROPERTY TYPECommercial - Business
SUBDIVISIONAuditors Sub 237
SCHOOLMinneapolis
Property Description
Spectacular six unit recently renovated with all new kitchens and bathrooms. Unit mix is five one-bedroom and one studio apartment all with one full bathroom. Three story all-brick exterior, sitting on 0.13+ acres with off street parking lot. 100% fully rented with on-site coin operated laundry and a newer water heater and high efficiency boiler. The average one-bedroom rents are $1,296 and the studio is at $1,195. This asset is in turn-key condition with a stabilized in place cap rate of 8.63% along with a 7.94 gross rent multiplier. Perfect for the first time investor or for your next 1031 tax exchange.
Property Features
Property Type: Commercial - Business
Basement: Yes
Cooling: Wall Unit(s)
Fuel Type: Natural Gas
Heating: Boiler, Hot Water, Zoned
Lot Size: 0.13 Acres
Roof Type: Age Over 8 Years, Flat
Stories: 3.0
Taxes: $10,988
Year Built: 1963
Feature Descriptions
Appliances: Dishwasher, Range, Refrigerator, Stainless Steel Appliances
Basement: Block, Egress Window(s), Finished, Full
Current Use: Residential
Days on Site: 85
Exterior: Block, Brick
Foundation Size: 1750
Lot Dimensions: 74 x 75
Owners Expense: Heat, Insurance, Repairs, Sewer, Taxes, Trash Collection, Water
Parcel#: 0602823240229
Parking: Paved Lot
Road Frontage: City Street, Paved Streets
Sale Includes: Building, Land, Leases, Rental License
Sewer: City Sewer/Connected
Tenant Expenses: Broadband, Cable TV, Electricity
Units: 6
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: Apartment Cash Flow, Inc.
Agency Phone: 651-263-3653
Shown By
Agency Title: Joel Hentges - Re/Max Advantage Plus
Agency Phone: 952-475-9541
3606 E 34th Street | MLS# 7068138
This commercial property located at 3606 E 34th Street, Minneapolis, MN 55406 is currently listed for sale with an asking price of $750,000. E 34th Street is located within the Minneapolis school district. Search Minneapolis real estate on www.homesbyjoel.com today.