Property for Sale in Minneapolis
3226 Minnehaha S Avenue
Minneapolis, MN 55406

Price
$1,320,000

MLS #
6487512

Status


Request Showing

Property Details

Year Built
1963

Square Feet
8,400

Parking Features
Parking Lot

Zoning
Residential-Multi-Family

2023 Property Taxes
$16,937

School District
Minneapolis

County
Hennepin


3226 minnehaha ave. south is a strong producing turn-key apartment asset in a growing minneapolis neighborhood! very consistent occupancy with low turn over. newer developments in close proximity help raise the market rents on these units. there are eleven one-bedroom & one studio apartments and 10 off-street parking spaces in a rear parking lot. the exterior is a combination of brick and stucco with newer vinyl replacement windows. a rubs program (ratio utility billing system) has already been implemented for tenants to pay their portion for water, sewer, and trash. this property would make the ideal 1031 exchange up from a 2-4 unit rental. current in-place noi $72,995 with upside potential to raise rents the next two years by 10-15%. call for more details.

6487512
Leaflet | Map data © Mapbox contributors

Lake Street south on Minnehaha Ave S


Lake Street south on Minnehaha Ave S

Features


Utilities
Electric Separate,Heating Common,Hot Water Common

Cooling
Wall Unit(s)

Heating
Boiler

Sewer
City Sewer/Connected

Water
Public

Additional Info


Includes
Range,Refrigerator

Listed By
Nathan Opatz of Apartment Cash Flow, Inc.

Listed
02/09/24 and last updated 11/22/24

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Based on information submitted to the MLS GRID or Trestle as of DATE and TIME. All data is obtained from various sources and may not have been verified by the broker, MLS GRID, or Trestle. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. IDX information is provided exclusively for personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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