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Minneapolis, MN 55417

$535,000

Property Type: Commercial Bedrooms: 6 Baths: 6 Square Footage: 7,500 Lot Size (sq. ft.): 6,098 Status: Closed

Current Price: $535,000 List Date: 4/14/2025 Last Modified: 7/05/2026

Overview

Description

BOSSEN TERRRACE OFFERS FIVE 1-BD AND 1-STUDIO APARTMENTS. CONSTRUCTED IN 1961 FEATURES ALL-BRICK EXTERIOR WITH NEWER LARGE WINDOWS, CLEAN COMMON AREAS AND COIN OPERATED WASHER AND DRYER. RESIDENTS PAY FOR THEIR OWN UNIT ELECTRIC. OWNER PAYS FOR HEAT, WATER AND TRASH. LOCATED CLOSE TO MOA, AIRPORT, AND DT MPLS!!

Listing Details MLS# 6702518

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: 1961
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 2500
For Sale or Lease: For Sale
Acres: 0.14
Lot Dimensions: 40 x 120
Assessment Pending: No
Garage Stalls: 0

Property Features

Accessible: None Air Conditioning: Wall Unit(s) Appliances: Range; Refrigerator Assumable Loan: Not Assumable Basement: Full CMU Style: Apartments/Multi Family; Low Rise Construction Materials: Brick Construction Status: Previously Owned Current Use: Residential Exterior: Brick/Stone Fencing: None Financing Terms: Conventional Flooring: Carpet; Luxury Vinyl Plank; Tile Foundation: Other Fuel: Natural Gas Heating: Boiler; Hot Water Loan Terms: Cash; Conventional On Site Utilities: Electric Separate; Heating Common; Hot Water Common Owner Pays: Gas; Hot Water; Lawn; Lawn; Taxes; Trash Collection; Water Parking Characteristics: Parking Lot Pool Description: None Rent Rate per Foot: Per Month Rental License Type: Standard Road Frontage: City Street 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 Wall Description: Plaster Water: City Water/Connected Window Features: Double Pane Windows; ENERGY STAR Qualified Windows

Contract Information

Off Market Date: 2025-05-06
Closed Date: 2025-07-04
Sales Close Price: 535000
Contingency: None
ListPrice: 570000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55417
Complex/Dev/Subdivision: Sanders 2nd Add

Assessments

Tax With Assessments: 8416
Assessment Balance: 0

Building Information

Building Finished SqFt: 7500
Building SqFt: 7500
Ceiling Height: 8-10

More Information

Income and Expenses

Annual Electric Expense: 1714
Annual Fuel Expense: 1919
Annual Gross Expenses: 26004
Annual Gross Income: 69571
Annual Insurance Expense: 4648
Annual Net Income: 43566
Annual Trash Expense: 2271
Annual Water/Sewer Expense: 2685
Total Annual Expenses: 43566

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 23
Section#: 19
Township#: 28

Sale Options

Sale Includes: Building, Land, Leases, Rental License

Unit 1

Unit Number: Yes
Monthly Rent: 975
Full Baths: Yes
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 5
Level: Main Level
Unit Total SqFt: 650
Leased?: Yes
Lease Expiration Date: 2025-08-31
No. of 1 Bedroom Units: 5

Unit 2

Full Baths: Yes
Lease Expiration Date: 2025-07-31
Leased?: Yes
Level: Main Level
Monthly Rent: 975
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 5
Unit Number: 2
Unit Total SqFt: 650

Unit 3

Full Baths: Yes
Lease Expiration Date: 2026-04-30
Leased?: Yes
Level: 2nd Level
Monthly Rent: 975
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 5
Unit Number: 3
Unit Total SqFt: 650

Unit 4

Full Baths: Yes
Lease Expiration Date: 2025-10-31
Leased?: Yes
Level: 2nd Level
Monthly Rent: 995
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 5
Unit Number: 4
Unit Total SqFt: 650

Unit 5

Full Baths: Yes
Lease Expiration Date: 2025-07-31
Leased?: Yes
Level: Below Ground
Monthly Rent: 975
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 5
Unit Number: 5
Unit Total SqFt: 650

Unit 6

Full Baths: Yes
Lease Expiration Date: 2025-07-31
Leased?: Yes
Level: Below Ground
Monthly Rent: 925
Total Bathrooms: Yes
Total Bedrooms: Yes
Total Rooms: 4
Unit Number: 6
Unit Total SqFt: 450

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 010 BLOCK 002 SANDERS 2ND ADDN
Listing City: Minneapolis
Map Page: 121
Municipality: Minneapolis
School District: Minneapolis
School District Phone: 612-668-0000
Zip Plus 4: 4246
Property ID Number: 1902823230093
Tax Year: 2025
Tax Amount: 8416
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: BOSSEN TERRRACE OFFERS FIVE 1-BD AND 1-STUDIO APARTMENTS. CONSTRUCTED IN 1961 FEATURES ALL-BRICK EXTERIOR WITH NEWER LARGE WINDOWS, CLEAN COMMON AREAS AND COIN OPERATED WASHER AND DRYER. RESIDENTS PAY FOR THEIR OWN UNIT ELECTRIC. OWNER PAYS FOR HEAT, WATER AND TRASH. LOCATED CLOSE TO MOA, AIRPORT, AND DT MPLS!!
Directions: North of Highway 62 and the airport

Accessible

None: Yes

Air Conditioning

Wall Unit(s): Yes

Appliances

Range: Yes
Refrigerator: Yes

Assumable Loan

Not Assumable: Yes

Basement

Full: Yes

Construction Materials

Brick: Yes

Construction Status

Previously Owned: Yes

Exterior

Brick/Stone: Yes

Fencing

None: Yes

Financing Terms

Conventional: Yes

Flooring

Carpet: Yes
Luxury Vinyl Plank: Yes
Tile: Yes

Foundation

Other: Yes

Fuel

Natural Gas: Yes

Heating

Boiler: Yes
Hot Water: Yes

Owner Pays

Gas: Yes
Hot Water: Yes
Lawn: Yes
Taxes: Yes
Trash Collection: Yes
Water: Yes

Parking Characteristics

Parking Lot: Yes

Pool Description

None: Yes

Rental License Type

Standard: Yes

Road Frontage

City Street: 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

Wall Description

Plaster: Yes

Water

City Water/Connected: Yes

Window Features

Double Pane Windows: Yes
ENERGY STAR Qualified Windows: 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
Low Rise: Yes

Current Use

Residential: Yes

Loan Terms

Cash: Yes
Conventional: Yes

Rent Rate per Foot

Per Month: Yes

Listing Office: Apartment Cash Flow, Inc.

Last Updated: July - 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.