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Minneapolis, MN 55407

$775,000

Property Type: Commercial Bedrooms: 6 Baths: 8 Square Footage: 5,368 Lot Size (sq. ft.): 7,405 Status: Active

Current Price: $775,000 List Date: 4/04/2026 Last Modified: 7/06/2026

Overview

Description

Well-maintained 8-unit apartment building offering consistent in-place income and long-term ownership stability. Fully occupied with a mix of one-bedroom and studio units, generating over $100,000 / year in rental income. This property is enrolled in the Minneapolis 4D Affordable Housing Program, providing a significant property tax reduction and enhancing overall cash flow — an attractive feature for investors seeking reliable returns. Recent ownership has focused on maintaining a clean, functional property with stable tenancy, making this a true turnkey opportunity. Building features include coin-operated laundry, separate electric, and practical unit layouts that support consistent occupancy. Additional upside potential exists through continued rent optimization and operational efficiencies. Ideal for investors seeking: Strong day-one cash flow, tax-advantaged ownership and a stabilized asset with operational upside.

Listing Details MLS# 7049047

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 6
Owner Occupied: No
Waterfront YN: No
Year Built: 1971
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 2384
Power Company: Xcel Energy
For Sale or Lease: For Sale
Acres: 0.17
Lot Dimensions: 60 x 123
Assessment Pending: No
Garage Stalls: 0

Property Features

Accessible: None Air Conditioning: Wall Unit(s) Appliances: Range; Refrigerator Assumable Loan: Not Assumable Basement: None CMU Style: Apartments/Multi Family Construction Materials: Frame Construction Status: Previously Owned Current Use: Residential Exterior: Stucco Fencing: Chain Link Flooring: Carpet; Luxury Vinyl Plank Foundation: Concrete Block Fuel: Natural Gas Heating: Boiler; Hot Water; Radiator Loan Terms: Cash; Conventional Location Description: Free Standing Lot Description: Tree Coverage - Light Miscellaneous Information: Alley On Site Utilities: Electric Separate; Heating Common; Hot Water Common Owner Pays: Gas; Heat; Hot Water; Insurance; Lawn; Lawn; Maintenance/Repair; Sewer; Snow Removal; Taxes; Trash Collection; Water Rental License Type: Standard Road Frontage: City Street Road Responsibility: Public Maintained Road Roof: Flat; Rubber Sewer: City Sewer/Connected Stories: Two Tenant Pays: Electricity Wall Description: Drywall Water: City Water/Connected

Contract Information

Contingency: Inspection
ListPrice: 775000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55407
Complex/Dev/Subdivision: Williams Add

Assessments

Assessment Balance: 342
Assessment Installment: 342
Tax With Assessments: 2671.82

Building Information

Building Finished SqFt: 5368
Building SqFt: 5368

More Information

Income and Expenses

Annual Caretaker Expense: 3540
Annual Electric Expense: 587
Annual Fuel Expense: 4397
Annual Gross Expenses: 34328
Annual Gross Income: 103080
Annual Insurance Expense: 3835
Annual Maintenance Expense: 5154
Annual Net Income: 68752
Annual Trash Expense: 2871
Annual Water/Sewer Expense: 4767
Total Annual Expenses: 34328
Annual Repair Expense: 0

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No
Alley: Yes

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 24
Section#: 02
Township#: 28

Sale Options

Sale Includes: Building, Land, Leases

Unit 1

Unit Number: 301
Monthly Rent: 1000
Full Baths: Yes
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 4
Level: Main Level
Unit Total SqFt: 528
Leased?: Yes
Lease Expiration Date: 2026-05-31
No. of 1 Bedroom Units: 6

Unit 2

Full Baths: Yes
Lease Expiration Date: 2026-05-31
Leased?: Yes
Level: Main Level
Monthly Rent: 1045
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 4
Unit Number: 302
Unit Total SqFt: 528

Unit 3

Full Baths: Yes
Lease Expiration Date: 2027-03-31
Leased?: Yes
Level: Main Level
Monthly Rent: 950
Total Bathrooms: Yes
Total Rooms: 3
Unit Number: 303
Unit Total SqFt: 500

Unit 4

Full Baths: Yes
Lease Expiration Date: 2026-04-30
Leased?: Yes
Level: Main Level
Total Bathrooms: Yes
Total Rooms: 3
Unit Number: 304
Unit Total SqFt: 500

Unit 5

Full Baths: Yes
Lease Expiration Date: 2026-05-31
Leased?: Yes
Level: 2nd Level
Monthly Rent: 1050
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 4
Unit Number: 305
Unit Total SqFt: 528

Unit 6

Full Baths: Yes
Lease Expiration Date: 2026-12-31
Leased?: Yes
Level: 2nd Level
Monthly Rent: 1100
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 4
Unit Number: 306
Unit Total SqFt: 528

Unit 7

Full Baths: Yes
Lease Expiration Date: 2026-10-31
Leased?: Yes
Level: 2nd Level
Monthly Rent: 1450
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 4
Unit Number: 307
Unit Total SqFt: 528

Unit 8

Full Baths: Yes
Lease Expiration Date: 2026-05-31
Leased?: Yes
Level: 2nd Level
Monthly Rent: 1100
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 4
Unit Number: 308
Unit Total SqFt: 528

Unit Details

Total Units: 8

Unit Information

No. of Efficiency Units: 2

Office/Member Info

Association: MAAR

Location, Tax and Other Information

Legal Description: BLOCK 004 WILLIAMS ADDN TO MPLS LOTS 19 AND 20
Listing City: Minneapolis
Map Page: 106
Municipality: Minneapolis
School District: Minneapolis
School District Phone: 612-668-0000
Zip Plus 4: 626
Property ID Number: 0202824120153
Tax Year: 2026
Tax Amount: 2329.82
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Well-maintained 8-unit apartment building offering consistent in-place income and long-term ownership stability. Fully occupied with a mix of one-bedroom and studio units, generating over $100,000 / year in rental income. This property is enrolled in the Minneapolis 4D Affordable Housing Program, providing a significant property tax reduction and enhancing overall cash flow — an attractive feature for investors seeking reliable returns. Recent ownership has focused on maintaining a clean, functional property with stable tenancy, making this a true turnkey opportunity. Building features include coin-operated laundry, separate electric, and practical unit layouts that support consistent occupancy. Additional upside potential exists through continued rent optimization and operational efficiencies. Ideal for investors seeking: Strong day-one cash flow, tax-advantaged ownership and a stabilized asset with operational upside.
Directions: From Lake St. Go South on 15th Ave. Property is on the left.

Accessible

None: Yes

Air Conditioning

Wall Unit(s): Yes

Appliances

Range: Yes
Refrigerator: Yes

Assumable Loan

Not Assumable: Yes

Basement

None: Yes

Construction Materials

Frame: Yes

Construction Status

Previously Owned: Yes

Exterior

Stucco: Yes

Fencing

Chain Link: Yes

Flooring

Carpet: Yes
Luxury Vinyl Plank: Yes

Foundation

Concrete Block: Yes

Fuel

Natural Gas: Yes

Heating

Boiler: Yes
Hot Water: Yes
Radiator: Yes

Lot Description

Tree Coverage - Light: Yes

Owner Pays

Gas: Yes
Heat: Yes
Hot Water: Yes
Insurance: Yes
Lawn: Yes
Maintenance/Repair: Yes
Sewer: Yes
Snow Removal: Yes
Taxes: Yes
Trash Collection: Yes
Water: Yes

Rental License Type

Standard: Yes

Road Frontage

City Street: Yes

Road Responsibility

Public Maintained Road: Yes

Roof

Flat: Yes
Rubber: Yes

Sewer

City Sewer/Connected: Yes

Stories

Two: Yes

Wall Description

Drywall: Yes

Water

City Water/Connected: Yes

No. of Ranges

Six or More: Yes

No. of Refrigerators

Six or More: Yes

Tenant Pays

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

Location Description

Free Standing: Yes

Listing Office: Peritus Real Estate

Last Updated: July - 06 - 2026

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