Minneapolis, MN 55406

$750,000
Property Type: Commercial Square Footage: 5,500 Lot Size (sq. ft.): 5,663 Status: Pending
Current Price: $750,000 List Date: 5/05/2026 Last Modified: 7/14/2026

Overview

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.

Listing Details MLS# 7068138

General Property Information

Lot Measurement
Acres
Management Company Name
Self Managed
Multiple PIDs?
No
Other Parking Spaces
6
Owner Occupied
No
Waterfront YN
No
Year Built
1963
Yearly/Seasonal
Yearly
Zoning
Residential-Multi-Family
Foundation Size
1750
Power Company
Xcel Energy
For Sale or Lease
For Sale
Acres
0.13
Lot Dimensions
74 x 75
Assessment Pending
No
Garage Stalls
0

Property Features

Accessible: None Air Conditioning: Wall Unit(s) Appliances: Dishwasher; Range; Refrigerator Assumable Loan: Not Assumable Basement: Concrete Block; Egress Windows; Full CMU Style: Apartments/Multi Family Construction Materials: Block; Brick Construction Status: Previously Owned Current Use: Residential Exterior: Brick/Stone; Stucco Fencing: None Flooring: Luxury Vinyl Plank; Tile Foundation: Concrete Block Fuel: Natural Gas Heating: Boiler; Hot Water; Zoned Loan Terms: Cash; Conventional Lock Box Type: None On Site Utilities: Electric Separate; Heating Common; Hot Water Common Owner Pays: Heat; Insurance; Maintenance/Repair; Sewer; Taxes; Trash Collection; Water Parking Characteristics: Paved Lot Potential Use: Income Rent Rate per Foot: Per Month Rental License Type: Standard Road Frontage: City Street; Paved Streets Road Responsibility: Public Maintained Road Roof: Age Over 8 Years; Flat Sewer: City Sewer/Connected Stories: Three Or More Tenant Pays: Broadband; Cable TV; Electricity Topography: Level Water: City Water/Connected

Contract Information

Off Market Date
2026-06-06
Contingency
None
ListPrice
750000
Owner is an Agent?
Yes
Auction?
No

Location Tax and Other Information

Postal City
Minneapolis
County
Hennepin
State
MN
Zip Code
55406
Complex/Dev/Subdivision
Auditors Sub 237

Assessments

Tax With Assessments
10988
Assessment Balance
0
Assessment Installment
0

Building Information

Building Finished SqFt
5500
Building SqFt
5500
Ceiling Height
8-10

More Information

Income and Expenses

Annual Fuel Expense
2040
Annual Gross Expenses
29708
Annual Gross Income
94500
Annual Insurance Expense
6960
Annual Maintenance Expense
2400
Annual Net Income
64791
Annual Trash Expense
4560
Annual Water/Sewer Expense
2760
Total Annual Expenses
29708
Annual Caretaker Expense
0
Annual Electric Expense
0

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Public Survey Info

Range#
23
Section#
06
Township#
28

Sale Options

Sale Includes
Building, Land, Leases, Rental License

Unit 1

No. of 1 Bedroom Units
5

Unit Details

Total Units
6

Unit Information

No. of Efficiency Units
Yes

Office/Member Info

Association
SPAAR

Location, Tax and Other Information

Legal Description
LOT 175 AUDITOR'S SUBD. NO. 237 E 73.7 FT OF LOT 175
Listing City
Minneapolis
Map Page
121
Municipality
Minneapolis
School District
Minneapolis
School District Phone
612-668-0000
Property ID Number
0602823240229
Tax Year
2026
Tax Amount
10988
In Foreclosure?
No
Potential Short Sale?
No
Lender Owned?
No

Directions & Remarks

Public Remarks
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.
Directions
Hiawatha Ave to East 32nd Street / Go East to 36th Avenue South / South to 34th Street East / Across from Longfellow Park

Accessible

None
Yes

Air Conditioning

Wall Unit(s)
Yes

Appliances

Dishwasher
Yes
Range
Yes
Refrigerator
Yes

Assumable Loan

Not Assumable
Yes

Basement

Concrete Block
Yes
Egress Windows
Yes
Full
Yes

Construction Materials

Block
Yes
Brick
Yes

Construction Status

Previously Owned
Yes

Exterior

Brick/Stone
Yes
Stucco
Yes

Fencing

None
Yes

Flooring

Luxury Vinyl Plank
Yes
Tile
Yes

Foundation

Concrete Block
Yes

Fuel

Natural Gas
Yes

Heating

Boiler
Yes
Hot Water
Yes
Zoned
Yes

Lock Box Type

None
Yes

Owner Pays

Heat
Yes
Insurance
Yes
Maintenance/Repair
Yes
Sewer
Yes
Taxes
Yes
Trash Collection
Yes
Water
Yes

Parking Characteristics

Paved Lot
Yes

Rental License Type

Standard
Yes

Road Frontage

City Street
Yes
Paved Streets
Yes

Road Responsibility

Public Maintained Road
Yes

Roof

Age Over 8 Years
Yes
Flat
Yes

Sewer

City Sewer/Connected
Yes

Stories

Three Or More
Yes

Topography

Level
Yes

Water

City Water/Connected
Yes

No. of Ranges

One Per Unit
Yes

No. of Refrigerators

One Per Unit
Yes

Tenant Pays

Broadband
Yes
Cable TV
Yes
Electricity
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

Potential Use

Income
Yes

Rent Rate per Foot

Per Month
Yes

Documents

IDX
Listing Office: Apartment Cash Flow, Inc.
Last Updated: July - 14 - 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.
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