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For Sale:  Minneapolis MLS# 6785866

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Active NEW!
$963,500
/mo Edit
Commercial:  2 Stories
Built 1911
0.27 acres
Minneapolis schools
MLS# 6785866
763-576-8286
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    Property Description

    This mixed-use property may be the ideal opportunity for an owner-occupant. The property consists of 4 residential units (two 2-bedroom units and two 1-bedroom units) and 2 commercial units. All the units, except residential unit 202, are owned by one owner. The property has been converted to condos so each of the 6 units has its own PID. Potential for owner-occupant to purchase one of the residential units to reside in and use a residential mortgage and purchase the remaining building using a commercial mortgage. The owner of unit 202 currently owns the only garage in the back plus 2 parking spaces on the back side of the property. The entire site has 15 parking spaces. Heating updates are in process including do-demand hot water for unit heat in 4 units. Cap Rate: 7.15%

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $963,500
    Property Type: Commercial
    City: Minneapolis
    Garage Spaces: 1
    County: Hennepin
    Year Built: 1911
    State: MN
    Property Style: 2 Stories
    Zip Code: 55405
    Neighborhood/Area: Whittier
    Subdivision Name: Cic 1833 Ecopolitan

    Interior

    Ranges: Four
    Refrigerators: Four
    Appliances Included:
    • Dishwasher
    • Range
    • Refrigerator
    Basement Details:
    • Block
    • Egress Window(s)
    • Finished

    Exterior

    Stories: Two
    Garage Spaces: 1
    Garage Dimensions: 0
    Garage Size: 320 ft2
    Garage Door Height: 0
    Garage Door Width: 0
    Other Parking Spaces: 13
    Air Conditioning: Window Unit(s)
    Foundation Size: 2,500 ft2
    Foundation Dimensions: 66 x 38
    Handicap Accessible: None
    Heating System:
    • Boiler
    • Forced Air
    Parking Features:
    • Carport
    • Detached
    • Paved
    Shared Amenities: Coin-op Laundry Owned
    Unit Amenities:
    • Hardwood Floors
    • Porch
    Exterior Material:
    • Brick/Stone
    • Vinyl Siding
    Roof Details:
    • Age Over 8 Years
    • Rubber

    Lot & Land

    Acres: 0.27
    Geolocation: 44.958753, -93.287604
    Inclusions: Rental License
    Lot Dimensions: 98 x 118
    Addl Parcels: 3402924230233, 3402924230234
    Zoning: Business/Commercial
    Lot Description: Some Trees

    Schools

    School District: 1
    District Phone: 612-668-0000

    Financial & Taxes

    Tax Year: 2025
    Annual Taxes: $15,753
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $15,753

    Units

    Total Units: 6

    Miscellaneous

    Current Use:
    • Food Service
    • Professional Service
    • Residential
    Fuel System: Natural Gas
    Owner Occupied: Yes
    Sewer System: City Sewer - In Street
    Available Utilities:
    • Electric Common
    • Electric Separate
    • Heating Common
    • Heating Separate
    • Hot Water Common
    • Hot Water Separate
    Water System: City Water - In Street

    Mortgage Calculator

    Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment and loan term. Property taxes are based on the last known value for this property or 0.012 of property price when data is unavailable. Your interest rate and insurance rates will vary based on credit score, loan type, etc.
    Payment:  /mo

    Local Home Mortgage Professionals

    Eric Bloomstrand
    Branch Sales Manager
    Fairway Home Mortgage    NMLS#274211
    612-961-2600
    Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
    Connect with Eric today to get started with your home purchase!

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    Listing provided by RMLS, courtesy of Metro Group Real Estate.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.