My notes for this property


Add listing to my favorites (required)
Sold
$6,900,900  (list price)
$6,438,000
/mo Edit
Commercial:  Apartments
Built 1987
1.26 acres
Minneapolis schools
MLS# 6470543
My rating:
Request a Showing  
Agent
Ask Barbi:

Ask the Agent

    Property inquiries submitted online are continually monitored to provide the best possible service.







    Thank You!

    An agent will be in contact with you soon to answer your question.

    Property Description

    All units have been taken care of meticulously with many updates and ongoing preventative maintenance. Each unit has hardwood flooring and ceramic tile or porcelain tile flooring, all apartments are located just a few blocks from the University of Minnesota near Dinkytown and the U of MN East Bank Campus and SE Como and Marcy Holmes neighborhoods. Located on Metro transit routes, close to shopping and events. This is an amazing opportunity to own your own block in the heart Minneapolis. Phase I completed without any issues. Additional investment opportunities available.

    Listing

    Contingency: None
    City: Minneapolis
    County: Hennepin
    State: MN
    Property Style: Apartments
    Zip Code: 55414
    Neighborhood/Area: Como
    Subdivision Name: Mcmillans Sub Blks Rollins Add

    Exterior

    Other Parking Spaces: 0
    Foundation Size: 6,748 ft2
    Handicap Accessible: None
    Heating System: Hot Water
    Parking Features: Assigned
    Exterior Material: Brick/Stone

    Lot & Land

    Acres: 1.26
    Geolocation: 44.984546, -93.228112
    Inclusions: Building, Rental License
    Lot Dimensions: 172 x 167
    Addl Parcels: 2402924140128
    Zoning: Residential-Multi-Family

    Schools

    School District: 1
    District Phone: 612-668-0000

    Expenses

    Annual Electric Expense: $8,699
    Annual Fuel Expense: $21,976
    Annual Insurance Expense: $9,013
    Annual Maintenance Expense: $58,751
    Annual Gross Expense: $257,008
    Annual Trash Expense: $6,764
    Annual Water/Sewer Expense: $19,713

    Financial & Taxes

    Tax Year: 2023
    Annual Taxes: $111,959
    Lender-owned: No
    Assessment Pending: Yes
    Taxes w/ Assessments: $113,947

    Income

    Annual Gross Income: $763,242

    Rent

    Annual Net Income: $506,235

    Units

    Total Units: 44

    Miscellaneous

    Current Use: Residential
    Fuel System: Natural Gas
    Owner Occupied: No
    Sewer System: City Sewer/Connected
    Available Utilities:
    • Electric Separate
    • Heating Common
    • Hot Water Common
    Water System: City Water/Connected

    Mortgage Calculator

    Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment and loan term. Property taxes are based on the last known value for this property or 0.012 of property price when data is unavailable. Your interest rate and insurance rates will vary based on credit score, loan type, etc.
    Payment:  /mo

    Local Home Mortgage Professionals

    651-253-2144
    Jason & Kim Stone
    Branch Manager & Co-Branch Manager
    Fairway Mortgage    NMLS#1018649
    Jason Stone joined Fairway Independent Mortgage Corporation in October 2017, as a Producing Branch Manager with over 15 years of experience in the mortgage industry. Throughout his career, Jason has originated over $500,000,000 in residential loan volume and has helped several thousand customers with their home financing needs. Jason was named Minneapolis Magazine: Super Mortgage Professional in 2018-2023, Scotsman Guide: Top Mortgage Originator 2019-2022, and Minnesota Housing: Platinum Leander. He is also a retired volunteer firefighter for the city of Mendota Heights, MN which is one of the reasons he’s a Home for Heroes affiliate lender.

    Kim Stone joined Fairway Independent Mortgage Corporation in August 2021, as Co-Branch Manager and Loan Officer. Kim leverages her previous experience as a leader in the non-profit sector to provide care and support throughout each home financing transaction. She has a bachelor’s degree in Communication and Marketing from Minnesota State University, Mankato and a master’s degree in International Business from Nova Southeastern University in Ft Lauderdale, FL.

    Leveraging more than 20 years of combined industry experience, the Stone Mortgage Team of Fairway Independent Mortgage Corporation, considers customer service as a way of life. Not only are we dedicated to finding great rates for our customers, but we also offer some of the fastest turn times in the industry. We pride ourselves on being personable, knowledgeable, accessible and reliable. Financing a home is one of the biggest commitments you will ever make - let us help guide you throughout the entire loan process from application to closing and beyond.
    It would be our pleasure to assist you with your home purchase!

    Apply Online     Home Purchase Qualifier     Refinance Rate Checker    

    Listing provided by RMLS, courtesy of RE/MAX Professionals.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.