$1,690,000

3115 Grand Avenue SMinneapolis, MN 55408

Type: Commercial

1969 Year Built

Description

Apartment with new roof & updated units blocks from Lake and Lyndale in Uptown. Appraised within the last three years for $2.4 million. Management in place willing to stay on during a 6 month transition period. 5 - 2 BR units and 7 - 1 BR units. Some furnished units. Seller has made significant improvements and investments to the property in the last several years. Near the lakes, the heart of Uptown, US Bank Stadium and the Convention Center, many shops & restaurants. Open layouts, updated kitchens and baths & new roof. Don’t miss this rare chance for an equity building investment with value add opportunity.

MLS ID: 6638564

Directions: 35W to Stinson Blvd, North on Stinson to Lowry, West on Lowry to property.

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Property Details

Essential Details

MLS #: 6638564

Listing courtesy of: eXp Realty

Price: $1,690,000

Type: Commercial

Contingency: None

Foreclosure: No

Zoning: Residential-Multi-Family

Current Use: Residential

Total Units: 12

Annual Gross Income: $68,400

Net Operating Income: $12,842

Annual Gross Expense: $55,558

Annual Electric Expense: $1,000

Annual Fuel Expense: $6,000

Annual Insurance Expense: $6,736

Annual Maintenance Expense: $2,000

Annual Other Expense: $4,000

Annual Annual Expense: $3,500

Annual Water/Sewer Expense: $3,000

Owner Pays: Electricity, Fuel, Gas, Insurance, Sewer, Taxes, Trash Collection

Parking Features: Paved

Other Parking Spaces: 12

Building Details

Owner Occupied: No

Construction Materials: Brick/Stone

AccessibilityFeatures: None

Roof: Age 8 Years or Less, Flat, Rubber

Heating: Forced Air

Cooling: Wall Unit(s), Window Unit(s)

Style: Apartment

Year Built: 1969

Foundation Area: 952

Amenities - Unit: Hardwood Floors, Kitchen Window, Natural Woodwork, Tile Floors

Sewer: City Sewer/Connected

Water Source: City Water/Connected

Number of Ranges: Six or More

Number of Refrigerators: Six or More

Utilities: Electric Separate, Hot Water Separate

Lot Details

Complex/Dev/Sub Name: Motor Line Add

Lot Dimensions: 124x90

School Information

District: Minneapolis

District Number: 1

District Phone: 612-668-0000

Community Information

County: Hennepin

Survey Range: 24

Survey Section: 03

Survey Township: 28

Taxes

Tax Year: 2024

Tax Amount: $45,498

Assessment Pending: No

Taxes w/Assessments: $45,498

This listing was last updated by eXp Realty on 12/11/2024 at 3:41 pm.

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 12/22/2024 12:45 am.

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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