$1,999,900

2020 E Franklin AvenueMinneapolis, MN 55404

Type: Commercial

1916 Year Built

Description

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.

MLS ID: 6474426

Directions: 94 to Riverside Exit. Go S on 26th to E Franklin. Go W on East Franklin to 21st Ave S. Property is NW corner of E Franklin and 21st Ave S.

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Property Details

Essential Details

MLS #: 6474426

Listing courtesy of: Caspian Group

Price: $1,999,900

Type: Commercial

Contingency: None

Foreclosure: No

Zoning: Residential-Multi-Family

Current Use: Residential

Total Units: 16

Annual Gross Income: $254,400

Net Operating Income: $86,400

Annual Gross Expense: $168,000

Annual Electric Expense: $1,000

Annual Fuel Expense: $1,000

Annual Insurance Expense: $18,000

Annual Maintenance Expense: $10,000

Annual Annual Expense: $2,500

Tenant Pays: Electricity, Gas

Parking Features: Asphalt, Parking Lot, Paved, Open

Other Parking Spaces: 12

Building Details

Owner Occupied: No

Construction Materials: Stucco

AccessibilityFeatures: None

Heating: Boiler, Radiator(s)

Cooling: Window Unit(s)

Style: Apartment

Year Built: 1916

Foundation Area: 1,700

Sewer: City Sewer/Connected

Water Source: City Water/Connected

Utilities: Electric Separate, Heating Separate, Hot Water Separate

Lot Details

Complex/Dev/Sub Name: Murphys Add

Lot Dimensions: 165 X 107

School Information

District: Minneapolis

District Number: 1

District Phone: 612-668-0000

Community Information

County: Hennepin

Survey Range: 24

Survey Section: 25

Survey Township: 29

Taxes

Tax Year: 2023

Tax Amount: $34,921

Assessment Pending: No

Taxes w/Assessments: $36,418

This listing was last updated by Caspian Group on 7/29/2024 at 9:02 am.

Information is deemed to be reliable, but is not guaranteed. Such information cannot be duplicated or distributed in any manner without the express written consent of the owning association. Data is deemed reliable but not guaranteed.

Records last updated at 9/7/2024 10:25 pm.

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity^SM Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Castle Realty of Twin Cities are marked with the Broker Reciprocity^SM logo or the Broker Reciprocity^SM thumbnail logo (little black house) and detailed information about them includes the name of the listing brokers.

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