1107 57th AVE N, Minneapolis, MN 55430 - MLS#6807486

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Nick Leavy

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

$649,900

Est. payment - /mo

8 Beds

4 Baths

3,400 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,400 sqft

Price per Sqft $191

MLS Listing ID 6807486

Style (MF) Four Plex

Bedrooms 8

Year Built 1963

Annual Tax Amount $10,389

Acres 0.32

Lot Dimensions 102x136

Property Description

24 hr notice to show. Well-maintained property offers an excellent opportunity for a new or growing investor to step into a cash-flowing asset.

-Three units occupied w/market-rate tenants and a lease is pending on the fourth. Two units have been updated.
-4 furnaces-CenterPoint Energy has quoted approx. $2,500 to separate gas meters, allowing future heat costs to be shifted to tenants, further increasing net income.
-E-Z access to I-94, Hwy 100, and I-694, and public transit routes-high rental demand area. Street has an expanded pedestrian path leading to a regional park and the Mississippi River — approx. a 15-minute walk.
-Coin-op laundry on inactive third-party contract —new owner can take over machines and capture 100% of income.
-Detached garage provides another revenue opportunity if rented separately. Property has been professionally managed and would be suitable for either passive ownership or self-management.
**Listing agent holds an ownership interest in the property.

Location

State MN

County Hennepin

Zoning Residential-Multi-Family

Direction Hwy 100 to Bass Lake Road, East to building

Rooms

Basement Other

Interior

Heating Forced Air

Flooring 13939.2

Laundry Common Area, Laundry Room, Lower Level

Exterior

Parking Features Parking Lot, Garage Door Opener, Paved Lot

Garage Spaces 4.0

Roof Type Age Over 8 Years,Asphalt Shingles

Accessibility None

Porch Rear Porch

Total Parking Spaces 4

Building

Lot Description Public Transit (w/in 6 blks), Tree Coverage - Medium

Foundation BrickMortar

Water City Water - In Street, City Water/Connected

Architectural Style (MF) Four Plex

Structure Type Block,Frame

Others

Senior Community No

Tax ID 0111821320018

Acceptable Financing Cash, Conventional, FHA, VA

Listing Terms Cash, Conventional, FHA, VA

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Listed by National Realty Guild

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