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$ 699,000
Est. payment /mo
Active
2818 E 31st ST Minneapolis, MN 55406
10 Beds
6 Baths
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision Libbys Add
MLS Listing ID 6770334
Bedrooms 10
Year Built 1960
Annual Tax Amount $11,051
Tax Year 2025
Contingent None
Lot Dimensions 60X70
Property Description
Prime 6 unit building in the growing Longfellow neighborhood! All the heavy lifting done with recent updates and 100% occupancy! Combination of long term tenants and recent move-ins, with a total gross scheduled rent of $7,400 per month with room to grow! Step into cashflow day one, with great upside with lease renewals next year.
Too many updates to list, see the supplements for a full list of improvements. New high efficiency boiler/hot water heater combi unit along with many new energy efficient appliances account for the extremely low operating cost as seen in the financials. Run your own numbers, but current rents and actual expenses have the building at over an 8 cap, with aggressive rents pushing it higher. Schedule your showing today, and add this cash flowing asset to your portfolio!
Too many updates to list, see the supplements for a full list of improvements. New high efficiency boiler/hot water heater combi unit along with many new energy efficient appliances account for the extremely low operating cost as seen in the financials. Run your own numbers, but current rents and actual expenses have the building at over an 8 cap, with aggressive rents pushing it higher. Schedule your showing today, and add this cash flowing asset to your portfolio!
Location
State MN
County Hennepin
Zoning Residential-Multi-Family
Interior
Heating Baseboard, Boiler
Cooling Wall Unit(s)
Flooring Wood
Inclusions Building
Fireplace No
Appliance Range, Refrigerator
Exterior
Parking Features Parking Lot
Utilities Available Electric Separate, Heating Common, Hot Water Common
Roof Type Asphalt
Present Use Residential
Building
Foundation 1960
Sewer City Sewer/Connected
Water City Water/Connected
New Construction false
Schools
School District Minneapolis
Listed by Michael Moe • Keller Williams Classic Rlty NW