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7341 62nd Avenue N, Minneapolis, MN 55428

$2,125,000

Property Type: Commercial Bedrooms: 3 Baths: 2 Lot Size (sq. ft.): 59,677 Status: Closed

Current Price: $2,125,000 List Date: 2/26/2026 Last Modified: 5/05/2026

Overview

Description

Entire complex of 16 Townhomes offered, all large 3BR 3-Level units with identical layout, including in-unit laundry, central A/C and large backyard. These units are very attractive to renters. Tenants pay separately metered gas and electric. Tenants pay a majority of Water and Trash via Utility RUBS addendum. All 16 units are separate PIDs and so an HOA could be implemented; the units could be sold individually as townhomes, or retained as a multi-family rental complex. Agent is Owner.

Listing Details MLS# 7027214

General Property Information

Lot Measurement: Acres
Management Company Name: EIG Property Management
Multiple PIDs?: Yes
Other Parking Spaces: 16
Owner Occupied: No
Year Built: 1962
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 11000
For Sale or Lease: For Sale
Acres: 1.37
Lot Dimensions: 240X490
Assessment Pending: Unknown
Garage Stalls: 0

Property Features

Accessible: None Air Conditioning: Central Air Appliances: Dishwasher; Microwave; Range; Refrigerator Assumable Loan: Yes w/ Qualifying Basement: Partially Finished CMU Style: Apartments/Multi Family; Common Wall Construction Status: Previously Owned Current Use: Residential Existing Financing: Conventional Exterior: Brick Veneer Financing Terms: Conventional Foundation: Combination Fuel: Natural Gas Heating: Forced Air Loan Terms: Assumable; Cash; Conventional On Site Utilities: Electric Separate; Heating Separate Parking Characteristics: Parking Lot Rental License Type: Standard Sewer: City Sewer/Connected Stories: Two Tenant Pays: Electricity; Gas; Heat; Trash Collection; Water Water: City Water/Connected

Contract Information

Off Market Date: 2026-05-05
Closed Date: 2026-05-01
Sales Close Price: 2125000
Contingency: None
ListPrice: 2300000
Owner is an Agent?: Yes
Auction?: No

Location Tax and Other Information

House Number: 7341
Street Name: 62nd
Street Suffix: Avenue
Street Direction Suffix: N
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55428
Complex/Dev/Subdivision: Lincoln Manor

Additional Parcels Information

Property ID #2: 0511821210130
Property ID #3: 0511821210129,0511821210128,0511821210127,0511821210126,0511821210125,0511821210124,0511821210123,0511821210122,0511821210121,0511821210119,0511821210118,0511821210117,0511821210116,0511821210131

Assessments

Tax With Assessments: 35039
Assessment Balance: 0

More Information

Building Information

Building Finished SqFt: 22000
Building SqFt: 22000

Income and Expenses

Annual Gross Expenses: 180000
Annual Gross Income: 368556
Annual Net Income: 180000
Total Annual Expenses: 199269

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 05/118/21
Section#: 05
Township#: 118

Sale Options

Sale Includes: Building, Land

Unit 1

Unit Number: 16
Monthly Rent: 1732
Full Baths: Yes
Half Baths: Yes
Total Bathrooms: 2
Total Bedrooms: 3
Level: Multi-Level
Unit Total SqFt: 1364
Leased?: Yes
Lease Expiration Date: 2025-06-30

Unit 3

No. of 3 Bedroom Units: 16

Unit Details

Total Units: 16

Office/Member Info

Association: MAAR

Location, Tax and Other Information

Legal Description: LOT 005 BLOCK 001 LINCOLN MANOR
Listing City: New Hope
Map Page: 91
Municipality: New Hope
School District: Robbinsdale
School District Phone: 763-504-8000
Zip Plus 4: 4302
Property ID Number: 0511821210120
Tax Year: 2026
Tax Amount: 35039
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Entire complex of 16 Townhomes offered, all large 3BR 3-Level units with identical layout, including in-unit laundry, central A/C and large backyard. These units are very attractive to renters. Tenants pay separately metered gas and electric. Tenants pay a majority of Water and Trash via Utility RUBS addendum. All 16 units are separate PIDs and so an HOA could be implemented; the units could be sold individually as townhomes, or retained as a multi-family rental complex. Agent is Owner.
Directions: Check your Google Maps.

Accessible

None: Yes

Air Conditioning

Central Air: Yes

Appliances

Dishwasher: Yes
Microwave: Yes
Range: Yes
Refrigerator: Yes

Assumable Loan

Yes w/ Qualifying: Yes

Basement

Partially Finished: Yes

Construction Status

Previously Owned: Yes

Existing Financing

Conventional: Yes

Exterior

Brick Veneer: Yes

Financing Terms

Conventional: Yes

Foundation

Combination: Yes

Fuel

Natural Gas: Yes

Heating

Forced Air: Yes

Parking Characteristics

Parking Lot: Yes

Rental License Type

Standard: Yes

Sewer

City Sewer/Connected: Yes

Stories

Two: Yes

Water

City Water/Connected: Yes

No. of Ranges

One Per Unit: Yes

No. of Refrigerators

One Per Unit: Yes

Tenant Pays

Electricity: Yes
Gas: Yes
Heat: Yes
Trash Collection: Yes
Water: Yes

On Site Utilities

Electric Separate: Yes
Heating Separate: Yes

CMU Style

Apartments/Multi Family: Yes
Common Wall: Yes

Current Use

Residential: Yes

Loan Terms

Assumable: Yes
Cash: Yes
Conventional: Yes

Listing Office: Manarola LLC

Last Updated: May - 05 - 2026

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.