1416-1422 California St NE - Apartments FOR SALE


Minneapolis, MN 55413- Sheridan
$1,200,000 USD
651-248-6060
1416-1422 California St NE, Minneapolis, MN for Sale
$1,200,000 USD
Apartments - FOR SALE
1/18
null | 6.4% Cap Rate

1416-1422 California St NE
Minneapolis, MN 55413
Sheridan


OVERVIEW

EIGHT UNITS with 2 bedrooms each. (Looks like Two four unit buildings) One PID with a driveway in between the two buildings make this a unique NE Gem on a quiet street. All tenants pay their own heat and electric. Each unit is 600 square feet with 2 bedrooms, bathroom, living room, eat in kitchen. Rear parking lot is very large and holds 12 + cars. Coin operated laundry in basement. Recent improvements include wrapping front windows with aluminum on one building, wrapping cornices and fasica on the front of another building. Through the years, many windows have been replaced with Vinyl, some piano windows have been replaced with stained glass. Both buildings are fully occupied. All units have balconies facing the back parking lot. Very quiet street, close to arts district, restaurants and coffee shops. Current rental income is $ 106, 140 with highest rent at 1200, with increase to 1400 total income would be 134,400. All units have rear balconies for outdoor enjoyment.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$303 USD /SF

# OF UNITS

8

PRICE/UNIT

$150,000

CAP RATE

6.4%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,583 SF

ZONING

R2B

APN/PARCEL ID

15-029-24-11-0058

ASK ABOUT THIS PROPERTY

Linda AlterColdwell Banker RealtyMore Info
651-248-6060

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Linda AlterColdwell Banker RealtyMore Info
651-248-6060

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.