Address
1701 Elm Street SE, Minneapolis, MN
Price
$ 8,000,000
Property Attributes
- ID#6401816
- TypeCommercial
- CountyHENNEPIN
- CityMinneapolis
- AreaMcmillans Sub Blks Rollins Add
- NeighborhoodMcmillans Sub Blks Rollins Add
- Zip55414
- StyleApartment
- Year Built1987
- Taxes$ 111959
- Price$ 8,000,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage28658
- Lot Size1.26 Acres
Data Source:
Northstar MLS (NSTAR)
Property Description
Incredible Investment Opportunity! 7 total complexes with a total of 79 units being sold as a package deal with the following PID’s: 2402924140095, 2402924140094, 2402924140096, 2402924140105, 2402924140106, 2402924140127,2402924140128 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. Contact agent for more information regarding rent rolls and other financials. This is an investors dream! Seller is willing to sell individual buildings or as a full package.
| Price History | |
|---|---|
| 7/13/2023 | Listed $8,750,000 |
| 8/8/2023 | 9% - $8,000,000 |
General Features
| Accessibility | None |
|---|---|
| Additional Parcels Description | 2402924140128 |
| Additional Parcels Y/N | Yes |
| City | Minneapolis |
| Construction Materials | Brick/Stone |
| Contingency | Inspection |
| County | Hennepin |
| Current Use | Residential |
| Days on Market | 75 |
| Directions | Kasota Ave/Energy Park Drive (CR32) to SE Elm, left, follow to property on right. |
| Electric Expense | 8699 |
| Fuel Expense | 21976 |
| Gross Income | 763242 |
| Heating | Hot Water |
| High School District | Minneapolis |
| Insurance Expense | 9013 |
| Lender Owned | No |
| Maintenanceexpense | 58751 |
| Net Operating Income | 506235 |
| Operating Expense | 257008 |
| Property SubType | Apartment |
| Property Type | Commercial Sale |
| Sewer | City Sewer/Connected |
| Standard Status | Active |
| Street Name | Elm |
| Subdivision Name | Mcmillans Sub Blks Rollins Add |
| Tax Annual Amount | 111959 |
| Tax Year | 2023 |
| Total Units | 44 |
| Trash Expense | 6764 |
| Utilities | Electric Separate, Heating Common, Hot Water Common |
| Water Sewer Expense | 19713 |
| Year Built | 1987 |
| Zoning Description | Residential-Multi-Family |
Interior Features
| Fuel | Natural Gas |
|---|---|
| Street Suffix | Street |
Exterior Features
| Foundation Area | 6748 |
|---|---|
| Inclusions | Building, Rental License |
| Lot Dimensions | 172x167 |
| Lot Size Area | 1.26 |
| Lot Size Units | Acres |
| Parking Features | Assigned |
| Water Source | City Water/Connected |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 55414
Price
Taxes
Visits
Year Built
Walkscore
