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. This property is great for affordable rentals or ICS grant usage.
THIS IS BASICALLY A BRAND NEW BUILDING WITH A BEAUTIFUL BROWNSTONE SHELL ! A return to the pre-covid use of short term stays will be the likely course of action for a new owner. The income was up to $229,000. There are many short term stay platforms now; not just AIRBNB. The current leases are month to month. POSSIBLE ASSUMPTION OF ABOUT $1,000,000 AT 3.5% ! The owner started out with 12 worn out apartments, gutted the entire building, and put in 6 brand new apartments / condominiums. The units are set up so they can be condos with the values showing up as $450,000 to $480,000. It is very energy efficient; it was insulted with spray foam and has solar panels.
Located on 4th Ave in South Minneapolis. 4 unit multifamily apartment building.
The median home value in Minneapolis, MN is $294,200. This is lower than the county median home value of $342,800. The national median home value is $338,100. The average price of homes sold in Minneapolis, MN is $294,200. Approximately 45.07% of Minneapolis homes are owned, compared to 48.7% rented, while 6.23% are vacant. Minneapolis real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Minneapolis real estate agent to arrange a tour today!
Minneapolis, Minnesota 55404 has a population of 425,091. Minneapolis 55404 is less family-centric than the surrounding county with 26.08% of the households containing married families with children. The county average for households married with children is 33.3%.
The median household income in Minneapolis, Minnesota 55404 is $70,099. The median household income for the surrounding county is $85,438 compared to the national median of $69,021. The median age of people living in Minneapolis 55404 is 32.7 years.
The average high temperature in July is 83.7 degrees, with an average low temperature in January of 7.1 degrees. The average rainfall is approximately 31.9 inches per year, with 52.4 inches of snow per year.