Additional details

Brandon Miskulin

brandon@executivestarrealty.com +1(218) 464-3126

$1,175,000

Est. payment - /mo

9,147 Sqft Lot

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UPDATED:

Key Details

Property Type Commercial

Listing Status Contingent

Purchase Type For Sale

Subdivision Bloomington Ave Add

MLS Listing ID 7088960

Year Built 1963

Annual Tax Amount $5,471

Tax Year 2026

Contingent Inspection

Lot Size 9,147 Sqft

Lot Dimensions 75 X 123

Property Description

11-unit all 1BR/1BA multifamily in Minneapolis's Powderhorn Park neighborhood offered at $1,175,000 ($106,818/door). Less than a block from Powderhorn Park's 66 acres of green space, lake, athletic fields, and recreation center, the property sits in one of the strongest rental locations in the submarket. Recent capital upgrades include a newer water heater and mechanicals, new sewer piping, and new LVP flooring in the lower level. Many units have been renovated with additional upside remaining on long term tenant turns. The property carries a very low tax base as part of the Minneapolis 4D program. Potential NOI of $94,017 with stable in-place cash flow and a straightforward value-add path on turns at a basis that still pencils in today's market. Available individually or as part of a 7-property, 89-unit South Minneapolis portfolio offered at $9,750,000. Refer to OM for more information.

Location

State MN

County Hennepin

Zoning Residential-Multi-Family

Interior

Heating Boiler

Inclusions Building, Fixture/Equipment, Land, Rental License

Fireplace No

Exterior

Parking Features Parking Lot

Utilities Available Electric Common, Electric Separate, Heating Common, Hot Water Common

Present Use Residential

Building

Story Two

Foundation 3190

Sewer City Sewer/Connected

Water City Water/Connected

Level or Stories Two

New Construction false

Schools

School District Minneapolis

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Listed by Mike Sowers • Commercial Investors Group LLC

Nearby School & Business

Brandon Miskulin

WI Broker, MN Agent | License ID: 58234-90, 40371939

+1(218) 464-3126 | brandon@executivestarrealty.com

3521 12th AVE S Minneapolis, MN 55407

Brandon Miskulin

Key Details

Location

Interior

Exterior

Building

Schools

Nearby School & Business

BUYING MY HOME