1720 Glenwood Ave N - Apartments FOR SALE


Minneapolis, MN 55405- Harrison
$875,000 USD
1720 Glenwood Ave N, Minneapolis, MN for Sale
$875,000 USD
Apartments - FOR SALE
1/25
null | Request Cap Rate

1720 Glenwood Ave N
Minneapolis, MN 55405
Harrison


HIGHLIGHTS

  • 15,813 SF freestanding mixed use building in Minneapolis
  • 8 residential units including seven 2-bedroom units and one 3 bedroom unit
  • Two commercial spaces including Milda's Cafe and an open space with an overhead door.
  • Separately metered gas and electric with central heating and air conditioning
  • Rear parking lot with 7 parking spaces plus street parking

OVERVIEW

This property presents an opportunity for investors seeking a value add asset with both residential and commercial components. the residential units are naturally occurring affordable housing units with some vacancies, and can be renovated and rented with the potential of a fully stabilized cash flowing asset. Located along the growing Glenwood Avenue corridor in Minneapolis, this mixed use investment opportunity offers long term upside in the evolving urban Harrison neighborhood adjacent to Bryn Mawr and near downtown Minneapolis. The property consists of 8 residential units, including seven 2-bedroom units and one 3-bedroom unit, along with two main level retail spaces - a restaurant and an open space with an overhead drive in door providing flexibility for a variety of commercial uses. Commercial spaces include Milda’s Cafe and an additional flexible space known as The Living Room, featuring an open layout, kitchenette, and an overhead drive-in door suitable for a variety of uses. Additional features include separately metered gas and electric, central heating and air conditioning, shared laundry facilities on each residential level, rear off-street parking, and a lower level basement space with future potential for storage income. Contact us today for additional information or to schedule a private tour.

FOR SALE DETAILS

PRICE

$875,000 USD

PRICE/SF

$62 USD /SF

# OF UNITS

8

PRICE/UNIT

$109,375

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2000

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,157 SF

ZONING

RM1/BFC4

APN/PARCEL ID

21-029-24-31-0066

ASK ABOUT THIS PROPERTY

Amber LangeCreative Property ProfessionalsMore Info

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Amber LangeCreative Property ProfessionalsMore Info

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