$1,999,900
Minneapolis, MN 55404
MLS# 6474426
1 / 7
Property Description
This multi-family property is located in the Seward neighborhood and features 16 rental units. 8 of the units are two-bedroom units and 8 of the units are three-bedroom units. This property features many updates including all new windows, repaired exterior stucco and new paint, all new exterior security door, new asphalt patching of parking lot. Interior units feature new appliances, bathroom fixtures, interior paint, new light fixtures, new interior locks. There are currently 10 vacancies allowing for the new buyer to fill with their own tenants. This property is great for affordable rentals or ICS grant usage.
Details
Maps
None
Allow Auto Valuation: Yes
Allow Consumer Comment: Yes
MLSID: RMLS
Contract Information
Status: Active
Current Price: $1,999,900
Original List Price: 1999900
Contingency: None
ListPrice: 1999900
List Date: 2024-01-07
Owner is an Agent?: Yes
Auction?: No
Office/Member Info
Association: SPAAR
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 12
Owner Occupied: No
Year Built: 1916
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 1700
For Sale or Lease: For Sale
Acres: 0.41
Lot Dimensions: 165 X 107
Assessment Pending: No
Location, Tax and Other Information
Legal Description: BLOCK 031 MURPHYS ADDN TO MPLS LOTS 6 AND 7 EX STREET
Map Page: 106
Municipality: Minneapolis
Rental License?: Yes
School District Phone: 612-668-0000
Map Coordinate Source: King's Street Atlas
House Number: 2020
Street Direction Prefix: E
Street Name: Franklin
Street Suffix: Avenue
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55404
Zip Plus 4: 2802
Property ID Number: 2502924330166
Complex/Dev/Subdivision: Murphys Add
Tax Year: 2023
Tax Amount: 34921
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No
Directions & Remarks
Public Remarks: This multi-family property is located in the Seward neighborhood and features 16 rental units. 8 of the units are two-bedroom units and 8 of the units are three-bedroom units. This property features many updates including all new windows, repaired exterior stucco and new paint, all new exterior security door, new asphalt patching of parking lot. Interior units feature new appliances, bathroom fixtures, interior paint, new light fixtures, new interior locks. There are currently 10 vacancies allowing for the new buyer to fill with their own tenants. This property is great for affordable rentals or ICS grant usage.
Directions: 94 to Riverside Exit. Go S on 26th to E Franklin. Go W on East Franklin to 21st Ave S. Property is NW corner of E Franklin and 21st Ave S.
Assessments
Tax With Assessments: 36418
Basement
Foundation Dimensions: 35*48
Building Information
Building Finished SqFt: 13600
Building SqFt: 20400
Income and Expenses
Annual Electric Expense: 1000
Annual Fuel Expense: 1000
Annual Gross Expenses: 168000
Annual Gross Income: 254400
Annual Insurance Expense: 18000
Annual Maintenance Expense: 10000
Annual Net Income: 86400
Annual Trash Expense: 2500
Lease Details
Land Leased: No
Miscellaneous Information
FIPS Code: 27053
Homestead: Other
Public Survey Info
Range#: 24
Section#: 25
Township#: 29
Sale Options
Sale Includes: Building,Fixture/Equipment,Leases
Unit 2
No. of 2 Bedroom Units: 8
Unit 3
No. of 3 Bedroom Units: 8
Unit Details
Total Units: 16
Property Features
Accessible: None
Air Conditioning: Window
Appliances: Freezer; Range; Refrigerator
Construction Status: Previously Owned
Current Use: Residential
Exterior: Stucco
Fuel: Natural Gas
Heating: Boiler; Radiator
Loan Terms: Cash; Contract for Deed; Conventional; Conventional Rehab
Lock Box Type: None
Neighborhood Name: Seward
On Site Utilities: Electric Separate; Heating Separate; Hot Water Separate
Parking Characteristics: Parking Lot; Driveway - Asphalt; Paved Lot; Uncovered/Open
Rental License Type: Standard
Sewer: City Sewer/Connected
Water: City Water/Connected
Listing Office: Caspian Group
Last Updated: March - 20 - 2024
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