Listing Courtesy of Apartment Cash Flow, Inc.,

3226 Minnehaha Avenue, Minneapolis, Minnesota, 55406

3226 MINNEHAHA AVE. SOUTH IS A STRONG PRODUCING TURN-KEY APARTMENT ASSET IN A GROWING MINNEAPOLIS NEIGHBORHOOD! VERY CONSISTENT OCCUPANCY WITH LOW TURN OVER. NEWER DEVELOPMENTS IN CLOSE PROXIMITY HELP RAISE THE MARKET RENTS ON THESE UNITS. THERE ARE ELEVEN ONE-BEDROOM & ONE STUDIO APARTMENTS AND 10 OFF-STREET PARKING SPACES IN A REAR PARKING LOT. THE EXTERIOR IS A COMBINATION OF BRICK AND STUCCO WITH NEWER VINYL REPLACEMENT WINDOWS. A RUBS PROGRAM (RATIO UTILITY BILLING SYSTEM) HAS ALREADY BEEN IMPLEMENTED FOR TENANTS TO PAY THEIR PORTION FOR WATER, SEWER, AND TRASH. THIS PROPERTY WOULD MAKE THE IDEAL 1031 EXCHANGE UP FROM A 2-4 UNIT RENTAL. CURRENT IN-PLACE NOI $72,995 WITH UPSIDE POTENTIAL TO RAISE RENTS THE NEXT TWO YEARS BY 10-15%. CALL FOR MORE DETAILS.

Active

$1,320,000

Condo/ Townhome/ Apartment

MLS

6487512

Built in 1963

Burgess Add

16937 (2023)

Disclaimer: The information contained in this listing has not been verified by Apartment Cash Flow, Inc. and should be verified by the buyer.

Information provided by NorthstarMLS

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ADDRESS & DIRECTIONS

  • Street Address: 3226 Minnehaha Avenue
  • City: Minneapolis
  • State: Minnesota
  • County: Hennepin
  • Subdivision: Burgess Add
  • Directions:
    Lake Street south on Minnehaha Ave S

PROPERTY FEATURES

SCHOOLS NEAR 3226 Minnehaha Avenue

  • Courtesy of Apartment Cash Flow, Inc.,
  • Property last updated on NorthstarMLS : 2/21/2024 2:48:36 AM