6141 Nicollet AVE S, Minneapolis, MN 55419 - MLS#6699993

REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.

In-PersonVirtual Tour

Thu

Jun

Fri

Jun

Sat

Jun

Nick Leavy

nick@ermetro.com +1(612) 236-5331

$1,730,000

Est. payment - /mo

23 Beds

11 Baths

12,632 SqFt

Save

UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 12,632 sqft

Price per Sqft $136

Subdivision Nicollet Heights

MLS Listing ID 6699993

Bedrooms 23

Year Built 1958

Annual Tax Amount $22,595

Lot Size 0.290 Acres

Acres 0.29

Lot Dimensions 80 x100

Property Description

THE NICOLLET AVE APARTMENTS OFFERS INVESTORS A HIGHER RETURN FOR THEIR MONEY THEN MOST DEALS ON THE MARKET TODAY!! THE OWNER HAS CAREFULLY RENOVATED EVERY UNIT WITH NEWER KITCHENS, NEWER BATHROOMS, ALL NEW LIGHTING AND PLUMBING FIXTURES, NEW CARPET, REFINISHED ORIGINAL OAK HARDWOOD FLOORING, AND NEW TILE AND QUARTZ COUNTERTOPS!! EACH KITCHEN HAS ALSO RECEIVED A COMPLETE STAINLESS-STEEL APPLIANCE PACKAGE THAT INCLUDES FULL-SIZE DISHWASHERS. THE LAUNDRY MACHINES ARE LEASED THROUGH BDS ON A REVENUE SHARED PROGRAM AND OFFERS RESIDENTS AN ELECTRONIC PAYMENT SYSTEM. THE OWNER HAS ALSO INCREASED REVENUE SIGNIFICANTLY BY IMPLEMENTING A UTILITY REIMBURSEMENT PROGRAM THROUGH RUBS. THIS ASSET WILL CHANGE HANDS FULLY RENTED AND STABILIZED WITH MARKET RENTS AND LEASES RUNNING THROUGH THIS FALL AND INTO SPRING 2026. THE CURRENT IN PLACE CAP RATE OF 7.93% IS BASED ON A NET OPERATING INCOME $137,250+

Location

State MN

County Hennepin

Community Nicollet Heights

Direction Hwy 35 to Hwy 62

Rooms

Basement Finished (Livable), Full

Interior

Heating Boiler

Cooling Window

Exterior

Parking Features Paved Lot

Utilities Available Electric Separate, Heating Common, Hot Water Common

Roof Type Age Over 8 Years,Flat

Accessibility None

Building

Water City Water/Connected

Structure Type Block,Brick

Others

Senior Community No

Tax ID 2202824430070

Read Less Info

Listed by Apartment Cash Flow, Inc.

PICK YOUR CITY