For Sale: Minneapolis MLS# 7045824
Ask the Agent℠
Ask the Agent℠
Thank You!
An agent will be in contact with you soon to answer your question.
Property Description
This stunning, nearly new multi-family building constructed in 2022 offers 18 bedrooms and 15 bathrooms across 6 units, delivering exceptional cash flow. Each unit features beautiful cabinetry, premium appliances, quartz countertops, and convenient kitchen center islands. You'll also find front-load washer and dryer sets in every unit, plus private balconies for enjoying fresh air and views. The tasteful, modern design flows seamlessly throughout with high-quality finishes, including tiled bathroom floors and showers. Located just one block from the prestigious Minneapolis College of Art and Design (MCAD), this property is perfectly positioned for student housing, young professionals, or long-term tenants. The previous tenant for 4 years rented the entire building for $15, 000 per month (tenant paid all utilities and exterior maintenance), with the current lease ending at the end of April 2026. Units are actively leasing up, with projected total rents exceeding $15, 500 per month. Built in 2022, the property requires minimal maintenance or repairs. This is a rare opportunity to own a new modern, income-producing asset that cannot be easily recreated. Schedule your showing today and take advantage of this fabulous cash-flow opportunity!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,999,900
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
2022
State:
MN
Property Style:
Other
Zip Code:
55404
Neighborhood/Area:
84
Subdivision Name:
Belleview Add
Interior
Bedrooms:
18
Bathrooms:
15
Ceiling Height:
8-10
Flooring:
Carpet, Luxury Vinyl Plank, Tile
Appliances Included:
- Cooktop
- Dishwasher
- Disposal
- Dryer
- Electric Water Heater
- Freezer
- Microwave
- Range
- Refrigerator
- Stainless Steel Appliances
- Washer
Basement Details:
- Concrete
- Drain Tiled
- Drainage System
- Egress Window(s)
- Finished
- Tile Shower
Exterior
Stories:
Three Or More
Garage Spaces:
0
Garage Dimensions:
0
Garage Door Height:
0
Garage Door Width:
0
Air Conditioning:
Central Air
Foundation Size:
2,030 ft2
Foundation Dimensions:
70 x 29
Fencing:
Wood
Handicap Accessible:
Other
Heating System:
Forced Air
Parking Features:
Driveway - Other Surface
Unit Amenities:
- Balcony
- Ceiling Fan(s)
- Indoor Sprinklers
- Kitchen Center Island
- Kitchen Window
- Local Area Network
- Paneled Doors
- Primary Bedroom Walk-In Closet
- Tile Floors
- Washer/Dryer Hookup
Roof Details:
- Age 8 Years or Less
- Asphalt
Lot & Land
Acres:
0.14
Geolocation:
44.958665, -93.276198
Inclusions:
Building, Land
Lot Dimensions:
47 x 125
Zoning:
Residential-Multi-Family
Schools
School District:
558
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
None
Annual Insurance Expense:
$2,630
Annual Maintenance Expense:
None
Annual Trash Expense:
None
Annual Water/Sewer Expense:
$5,650
Tenant Expenses:
All Utilities, Lawn Care, Sewer, Snow Removal, Trash Collection, Water
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$22,723
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$22,805
Income
Annual Gross Income:
$188,650
Rent
Annual Net Income:
$160,663
Units
Total Units:
6
Miscellaneous
Current Use:
Residential
Fuel System:
Electric
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
Electric Common
Water System:
City Water/Connected
Power Company Name:
Xcel Energy
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.
This amortization schedule shows how much of your monthly payment will go towards the principle and how
much will go towards the interest.
| Month | Principal | Interest | P&I | Balance |
|---|---|---|---|---|
| Year | Principal | Interest | P&I | Balance |
Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Keller Williams Classic Realty.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.