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Minneapolis, MN 55432

New Listing

$715,000

Property Type: Commercial Bedrooms: 10 Baths: 5 Square Footage: 5,000 Lot Size (sq. ft.): 22,651 Status: Active

Current Price: $715,000 List Date: 6/26/2026 Last Modified: 6/27/2026

Overview

Description

Updated 5-Unit Multifamily Investment Property in Fridley Excellent opportunity to acquire a well-maintained and updated 5-unit residential rental property in Fridley featuring all 2-bedroom, 1-bathroom apartment homes. Each unit has been thoughtfully updated with modern kitchens and bathrooms, creating strong tenant appeal and a clean, move-in-ready rental experience. The property offers a practical unit mix with five spacious 2-bedroom apartments, six garage stalls, and multiple designated off-street parking spaces. These features provide added convenience for residents and valuable income-supporting amenities for ownership. All units have existing leases, some are month-month. Located at 1200 Norton Avenue NE in Fridley, this multifamily asset offers convenient access to major roadways, employment centers, shopping, dining, parks, and everyday services throughout the north metro. With updated interiors, garage parking, designated parking, and a desirable all-2-bedroom configurat ... (Read more)

Listing Details MLS# 7098679

General Property Information

Lot Measurement: Acres
Management Company Name: Self Managed
Multiple PIDs?: No
Other Parking Spaces: 12
Owner Occupied: Yes
Waterfront YN: No
Year Built: 1918
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 1176
Garage Stalls: 6
For Sale or Lease: For Sale
Acres: 0.52
Lot Dimensions: 124x27x144x134x170
Assessment Pending: No

Property Features

Accessible: None Air Conditioning: Window Unit(s) Amenities Shared: Unspecified Amenities Unit: Deck; Kitchen Window; Natural Woodwork Appliances: Dishwasher; Range; Refrigerator Assumable Loan: Not Assumable Basement: Egress Windows; Full CMU Style: Apartments/Multi Family Construction Materials: Frame Construction Status: Previously Owned Current Use: Residential Existing Financing: Conventional Exterior: Stucco Fencing: Wood Foundation: Concrete Block Fuel: Natural Gas Heating: Forced Air Loan Terms: Cash; Conventional; Conventional Rehab On Site Utilities: Electric Separate Parking Characteristics: Assigned; Tuckunder Garage Pool Description: None Potential Use: Income; Office Rent Rate per Foot: Gross Rental License Type: Standard Road Frontage: City Street; Cul De Sac; Paved Streets Road Responsibility: Public Maintained Road Sewer: City Sewer - In Street; City Sewer/Connected Shared Rooms: Guest Suite Stories: Two Tenant Pays: All Utilities Water: City Water - In Street

Contract Information

Contingency: None
ListPrice: 715000
Owner is an Agent?: Yes
Auction?: No

Location Tax and Other Information

Postal City: Minneapolis
County: Anoka
State: MN
Zip Code: 55432
Complex/Dev/Subdivision: Auditors Sub 89

Assessments

Tax With Assessments: 9960
Assessment Balance: 0

Building Information

Building Finished SqFt: 5000
Building SqFt: 5000

More Information

Income and Expenses

Annual Electric Expense: 960
Annual Fuel Expense: 2160
Annual Gross Expenses: 5760
Annual Gross Income: 88800
Annual Net Income: 83040
Annual Trash Expense: 1800
Annual Water/Sewer Expense: 180
Total Annual Expenses: 5760
Annual Caretaker Expense: 0
Annual Maintenance Expense: 0
Annual Repair Expense: 0

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Parking Characteristics

Garage Door Height: 7
Garage Door Width: 8
Garage Square Feet: 1400
Assigned: Yes
Tuckunder Garage: Yes

Public Survey Info

Range#: 24
Section#: 12
Township#: 30

Sale Options

Sale Includes: Leases

Unit 1

Unit Number: Yes
Monthly Rent: 1450
Full Baths: Yes
Total Bathrooms: Yes
Total Bedrooms: 2
Level: Below Ground
Leased?: Yes
Lease Expiration Date: 2026-07-31

Unit 2

No. of 2 Bedroom Units: 5
Full Baths: Yes
Lease Expiration Date: 2026-10-31
Leased?: Yes
Level: Below Ground
Monthly Rent: 1450
Total Bathrooms: Yes
Total Bedrooms: 2
Unit Number: 2

Unit 3

Full Baths: Yes
Lease Expiration Date: 2026-07-31
Leased?: Yes
Level: Main Level
Monthly Rent: 1750
Total Bathrooms: Yes
Total Bedrooms: 2
Unit Number: 3

Unit 4

Full Baths: Yes
Lease Expiration Date: 2026-07-31
Leased?: Yes
Level: Main Level
Monthly Rent: 1400
Total Bathrooms: Yes
Total Bedrooms: 2
Unit Number: 4

Unit 5

Full Baths: Yes
Lease Expiration Date: 2026-07-31
Leased?: Yes
Level: 2nd Level
Monthly Rent: 1350
Total Bathrooms: Yes
Total Bedrooms: 2
Unit Number: 5

Unit Details

Total Units: 5

Office/Member Info

Association: MAAR

Location, Tax and Other Information

Legal Description: LOT 12 AUD SUB NO 89, EX E 130 FT THEREOF, SUBJ TO EASE OF REC
Listing City: Fridley
Map Page: 78
Municipality: Fridley
School District: Spring Lake Park
School District Phone: 763-786-5570
Zip Plus 4: 2529
Property ID Number: 123024310026
Tax Year: 2026
Tax Amount: 9960
In Foreclosure?: Not disclosed
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Updated 5-Unit Multifamily Investment Property in Fridley Excellent opportunity to acquire a well-maintained and updated 5-unit residential rental property in Fridley featuring all 2-bedroom, 1-bathroom apartment homes. Each unit has been thoughtfully updated with modern kitchens and bathrooms, creating strong tenant appeal and a clean, move-in-ready rental experience. The property offers a practical unit mix with five spacious 2-bedroom apartments, six garage stalls, and multiple designated off-street parking spaces. These features provide added convenience for residents and valuable income-supporting amenities for ownership. All units have existing leases, some are month-month. Located at 1200 Norton Avenue NE in Fridley, this multifamily asset offers convenient access to major roadways, employment centers, shopping, dining, parks, and everyday services throughout the north metro. With updated interiors, garage parking, designated parking, and a desirable all-2-bedroom configuration, this property is well-positioned for an investor seeking a stabilized residential rental asset with long-term income potential. A strong addition to an investment portfolio, this 5-unit property combines updated residential living spaces, functional parking, and a location within the established Fridley rental market.
Directions: Old Hwy 65 to Norton Ave Go West Property On South Side or Road

Accessible

None: Yes

Air Conditioning

Window Unit(s): Yes

Amenities Shared

Unspecified: Yes

Amenities Unit

Deck: Yes
Kitchen Window: Yes
Natural Woodwork: Yes

Appliances

Dishwasher: Yes
Range: Yes
Refrigerator: Yes

Assumable Loan

Not Assumable: Yes

Basement

Egress Windows: Yes
Full: Yes

Construction Materials

Frame: Yes

Construction Status

Previously Owned: Yes

Existing Financing

Conventional: Yes

Exterior

Stucco: Yes

Fencing

Wood: Yes

Foundation

Concrete Block: Yes

Fuel

Natural Gas: Yes

Heating

Forced Air: Yes

Pool Description

None: Yes

Rental License Type

Standard: Yes

Road Frontage

City Street: Yes
Cul De Sac: Yes
Paved Streets: Yes

Road Responsibility

Public Maintained Road: Yes

Sewer

City Sewer - In Street: Yes
City Sewer/Connected: Yes

Shared Rooms

Guest Suite: Yes

Stories

Two: Yes

Water

City Water - In Street: Yes

No. of Ranges

Five: Yes

No. of Refrigerators

Five: Yes

Tenant Pays

All Utilities: Yes

On Site Utilities

Electric Separate: Yes

CMU Style

Apartments/Multi Family: Yes

Current Use

Residential: Yes

Loan Terms

Cash: Yes
Conventional: Yes
Conventional Rehab: Yes

Potential Use

Income: Yes
Office: Yes

Rent Rate per Foot

Gross: Yes

Listing Office: Exit Realty Nexus

Last Updated: June - 27 - 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.