$6,900,900
1701 Elm Street SE
Minneapolis, MN 55414
MLS# 6470543
88 beds
1701 Elm Street SE, Minneapolis, MN 55414
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1701 Elm Street SE, Minneapolis, MN 55414 1701 Elm Street SE, Minneapolis, MN 55414 1701 Elm Street SE, Minneapolis, MN 55414 1701 Elm Street SE, Minneapolis, MN 55414 1701 Elm Street SE, Minneapolis, MN 55414 1701 Elm Street SE, Minneapolis, MN 55414 1701 Elm Street SE, Minneapolis, MN 55414 1701 Elm Street SE, Minneapolis, MN 55414 1701 Elm Street SE, Minneapolis, MN 55414 1701 Elm Street SE, Minneapolis, MN 55414 1701 Elm Street SE, Minneapolis, MN 55414 1701 Elm Street SE, Minneapolis, MN 55414 1701 Elm Street SE, Minneapolis, MN 55414 1701 Elm Street SE, Minneapolis, MN 55414 1701 Elm Street SE, Minneapolis, MN 55414 1701 Elm Street SE, Minneapolis, MN 55414 1701 Elm Street SE, Minneapolis, MN 55414 1701 Elm Street SE, Minneapolis, MN 55414 1701 Elm Street SE, Minneapolis, MN 55414 1701 Elm Street SE, Minneapolis, MN 55414 1701 Elm Street SE, Minneapolis, MN 55414 1701 Elm Street SE, Minneapolis, MN 55414 1701 Elm Street SE, Minneapolis, MN 55414 1701 Elm Street SE, Minneapolis, MN 55414 1701 Elm Street SE, Minneapolis, MN 55414

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.

Details
Maps
None
MLSID: RMLS
Contract Information
Digitally Altered Photos: No
Status: Active
Current Price: $6,900,900
Contingency: Inspection
ListPrice: 6900900
List Date: 2023-12-20
Owner is an Agent?: No
Auction?: No
Office/Member Info
Association: SPAAR
General Property Information
Lot Measurement: Acres
Multiple PIDs?: Yes
Owner Occupied: No
Year Built: 1987
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Bedrooms: 88
Foundation Size: 6748
For Sale or Lease: For Sale
Acres: 1.26
Lot Dimensions: 172x167
Location, Tax and Other Information
Legal Description: BLOCK 007 MCMILLANS SUBD BLKS ROLLINS ADD MPLS LOTS 6 THRU 9 INCL EXCEPT STREET BLOCK 007 MCMILLANS SUBD BLKS ROLLINS ADD MPLS LOTS 12 THUR 15 INCL
Map Page: 107
Municipality: Minneapolis
Rental License?: No
School District Phone: 612-668-0000
House Number: 1701
Street Name: Elm
Street Suffix: Street
Street Direction Suffix: SE
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55414
Zip Plus 4: 2349
Property ID Number: 2402924140127
Complex/Dev/Subdivision: Mcmillans Sub Blks Rollins Add
Tax Year: 2023
Tax Amount: 111958.69
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No
Directions & Remarks
Public Remarks: 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.
Directions: Kasota Ave/Energy Park Drive (CR32) to SE Elm, left, follow to property on right.
Additional Parcels Information
Property ID #2: 2402924140128
Assessments
Assessment Balance: 1988.55
Tax With Assessments: 113947.24
Building Information
Building Finished SqFt: 28658
Income and Expenses
Annual Electric Expense: 8699
Annual Fuel Expense: 21976
Annual Gross Expenses: 257008
Annual Gross Income: 763242
Annual Insurance Expense: 9013
Annual Maintenance Expense: 58751
Annual Net Income: 506235
Annual Trash Expense: 6764
Annual Water/Sewer Expense: 19713
Total Annual Expenses: 257008
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
Homestead: No
Ownership
Fractional Ownership: No
Public Survey Info
Range#: 24
Section#: 24
Township#: 29
Sale Options
Sale Includes: Building, Rental License
Unit 1
Unit Number: 1
Total Bedrooms: 2
Leased?: Yes
Lease Expiration Date: 2024-09-26
Unit 10
Total Bedrooms: 2
Unit Number: 10
Unit 11
Total Bedrooms: 2
Unit Number: 11
Unit 12
Total Bedrooms: 2
Unit Number: 12
Unit 13
Total Bedrooms: 2
Unit Number: 13
Unit 14
Total Bedrooms: 2
Unit Number: 14
Unit 15
Total Bedrooms: 2
Unit Number: 15
Unit 2
No. of 2 Bedroom Units: 44
Total Bedrooms: 2
Unit Number: 2
Unit 3
Total Bedrooms: 2
Unit Number: 3
Unit 4
Total Bedrooms: 2
Unit Number: 4
Unit 5
Total Bedrooms: 2
Unit Number: 5
Unit 6
Total Bedrooms: 2
Unit Number: 6
Unit 7
Total Bedrooms: 2
Unit Number: 7
Unit 8
Total Bedrooms: 2
Unit Number: 8
Unit 9
Total Bedrooms: 2
Unit Number: 9
Unit Details
Total Units: 44
Property Features
Accessible: None
CMU Style: Apartments/Multi Family
Construction Status: Previously Owned
Current Use: Residential
Exterior: Brick/Stone
Fuel: Natural Gas
Heating: Hot Water
Loan Terms: Cash; Conventional; FHA; VA
On Site Utilities: Electric Separate; Heating Common; Hot Water Common
Parking Characteristics: Assigned
Sewer: City Sewer/Connected
Water: City Water/Connected

Listing Office: RE/MAX Professionals

Last Updated: May - 14 - 2024

1701 Elm Street SE, Minneapolis, MN 55414 - MLS# 6470543
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

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.

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