1701 Elm Street SE, Minneapolis, MN 55414
$6,438,000
Property Type:
Commercial
Bedrooms:
88
Lot Size (sq. ft.):
54,886
Status:
Closed
Current Price:
$6,438,000
List Date:
12/20/2023
Last Modified:
10/01/2025
Overview
Description
Listing Details MLS# 6470543
General Property Information
- Lot Measurement
- Acres
- Multiple PIDs?
- Yes
- Owner Occupied
- No
- Year Built
- 1987
- Yearly/Seasonal
- Yearly
- Zoning
- Residential-Multi-Family
- Foundation Size
- 6748
- For Sale or Lease
- For Sale
- Acres
- 1.26
- Lot Dimensions
- 172x167
- Other Parking Spaces
- 0
- Garage Stalls
- 0
Property Features
Accessible:
None
CMU Style:
Apartments/Multi Family
Construction Status:
Previously Owned
Current Use:
Residential
Exterior:
Brick/Stone
Financing Terms:
Other
Fuel:
Natural Gas
Heating:
Hot Water
Loan Terms:
Cash; Conventional; FHA; VA
On Site Utilities:
Electric Separate; Heating Common; Hot Water Common
Parking Characteristics:
Assigned
Sewer:
City Sewer/Connected
Water:
City Water/Connected
Contract Information
- Off Market Date
- 2024-07-16
- Closed Date
- 2024-09-30
- Sales Close Price
- 6438000
- Contingency
- None
- ListPrice
- 6900900
- Owner is an Agent?
- No
- Auction?
- No
Location Tax and Other Information
- House Number
- 1701
- Street Name
- Elm
- Street Suffix
- Street
- Street Direction Suffix
- SE
- Postal City
- Minneapolis
- County
- Hennepin
- State
- MN
- Zip Code
- 55414
- Complex/Dev/Subdivision
- Mcmillans Sub Blks Rollins Add
Additional Parcels Information
- Property ID #2
- 2402924140128
Assessments
- Assessment Balance
- 1988.55
- Tax With Assessments
- 113947.24
More Information
Building Information
- Building Finished SqFt
- 28658
Income and Expenses
- Annual Electric Expense
- 8699
- Annual Fuel Expense
- 21976
- Annual Gross Expenses
- 257008
- Annual Gross Income
- 763242
- Annual Insurance Expense
- 9013
- Annual Maintenance Expense
- 58751
- Annual Net Income
- 506235
- Annual Trash Expense
- 6764
- Annual Water/Sewer Expense
- 19713
- Total Annual Expenses
- 257008
Lease Details
- Land Leased
- Not Applicable
Miscellaneous Information
- Homestead
- No
Ownership
- Fractional Ownership
- No
Public Survey Info
- Range#
- 24
- Section#
- 24
- Township#
- 29
Sale Options
- Sale Includes
- Building, Rental License
Unit 1
- Unit Number
- Yes
- Total Bedrooms
- 2
- Leased?
- Yes
- Lease Expiration Date
- 2024-09-26
Unit 10
- Total Bedrooms
- 2
- Unit Number
- 10
Unit 11
- Total Bedrooms
- 2
- Unit Number
- 11
Unit 12
- Total Bedrooms
- 2
- Unit Number
- 12
Unit 13
- Total Bedrooms
- 2
- Unit Number
- 13
Unit 14
- Total Bedrooms
- 2
- Unit Number
- 14
Unit 15
- Total Bedrooms
- 2
- Unit Number
- 15
Unit 2
- No. of 2 Bedroom Units
- 44
- Total Bedrooms
- 2
- Unit Number
- 2
Unit 3
- Total Bedrooms
- 2
- Unit Number
- 3
Unit 4
- Total Bedrooms
- 2
- Unit Number
- 4
Unit 5
- Total Bedrooms
- 2
- Unit Number
- 5
Unit 6
- Total Bedrooms
- 2
- Unit Number
- 6
Unit 7
- Total Bedrooms
- 2
- Unit Number
- 7
Unit 8
- Total Bedrooms
- 2
- Unit Number
- 8
Unit 9
- Total Bedrooms
- 2
- Unit Number
- 9
Unit Details
- Total Units
- 44
Office/Member Info
- Association
- SPAAR
- MLSID
- RMLS
Location, Tax and Other Information
- Legal Description
- BLOCK 007 MCMILLANS SUBD BLKS ROLLINS ADD MPLS LOTS 6 THRU 9 INCL EXCEPT STREET BLOCK 007 MCMILLANS SUBD BLKS ROLLINS ADD MPLS LOTS 12 THUR 15 INCL
- Listing City
- Minneapolis
- Map Page
- 107
- Municipality
- Minneapolis
- Rental License?
- No
- School District
- Minneapolis
- School District Phone
- 612-668-0000
- Zip Plus 4
- 2349
- Property ID Number
- 2402924140127
- Tax Year
- 2023
- Tax Amount
- 111958.69
- In Foreclosure?
- No
- Potential Short Sale?
- No
- Lender Owned?
- No
Directions & Remarks
- Public Remarks
- All units have been taken care of meticulously with many updates and ongoing preventative maintenance. Each unit has hardwood flooring and ceramic tile or porcelain tile flooring, all apartments are located just a few blocks from the University of Minnesota near Dinkytown and the U of MN East Bank Campus and SE Como and Marcy Holmes neighborhoods. Located on Metro transit routes, close to shopping and events. This is an amazing opportunity to own your own block in the heart Minneapolis. Phase I completed without any issues. Additional investment opportunities available.
- Directions
- Kasota Ave/Energy Park Drive (CR32) to SE Elm, left, follow to property on right.
Accessible
- None
- Yes
Construction Status
- Previously Owned
- Yes
Exterior
- Brick/Stone
- Yes
Financing Terms
- Other
- Yes
Fuel
- Natural Gas
- Yes
Heating
- Hot Water
- Yes
Parking Characteristics
- Assigned
- Yes
Sewer
- City Sewer/Connected
- Yes
Water
- City Water/Connected
- Yes
On Site Utilities
- Electric Separate
- Yes
- Heating Common
- Yes
- Hot Water Common
- Yes
CMU Style
- Apartments/Multi Family
- Yes
Current Use
- Residential
- Yes
Loan Terms
- Cash
- Yes
- Conventional
- Yes
- FHA
- Yes
- VA
- Yes
Listing Office:
RE/MAX Professionals
Last Updated: October - 01 - 2025
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