2526 Jackson St NE - Apartments FOR SALE


Minneapolis, MN 55418- Holland
$699,900 USD
612-865-0080
2526 Jackson St NE, Minneapolis, MN for Sale
$699,900 USD
Apartments - FOR SALE
1/31
null | Request Cap Rate

2526 Jackson St NE
Minneapolis, MN 55418
Holland


HIGHLIGHTS

  • High-end 2016 renovation on 3 of 4 units with rents still under market - turnkey condition, light value-add upside
  • Holland neighborhood of NE Mpls, one of the metro's strongest rental submarkets, minutes to downtown
  • Proforma est. mid-$90Ks gross at potential 5-unit stabilization (buyer to verify 5th unit feasibility with City of Mpls)

OVERVIEW

Turnkey, fully occupied fourplex in the Holland neighborhood of NE Minneapolis. Three of four units carry a high-end 2016 renovation (hardwood floors, updated kitchens, newer furnaces and water heaters), including a two-level premium 3bd/2ba showcase unit with its own central A/C, upper-level loft, heated-tile bath, and private balcony. Every unit is separately metered, including the lower level; tenants pay their own electric and gas, owner covers water, sewer, and trash. On-site coin laundry and unbilled basement storage offer additional off-book income. The value add is real. In-place rents of $5,510/mo ($66,120/yr) sit under market with leases rolling through 2026, a capturable gap of roughly $200/mo per unit. The one original unit is a value-add remodel to a 2bd, and both 1-beds convert easily to 2-beds, pushing the path to 10 beds across 4 units. Bigger upside: the fully finished, separately metered lower level (bath and mechanicals already in place) needs only a kitchen to become a 5th unit, with proforma gross rents in the mid-$90Ks at 5-unit stabilized (buyer to verify conformance with City of Mpls). One unit opening up soon creates an owner-occupant or market-rate reset opportunity.

FOR SALE DETAILS

PRICE

$699,900 USD

PRICE/SF

$159 USD /SF

# OF UNITS

4

PRICE/UNIT

$174,975

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

NE Mpls Fourplex - Turnkey + Upside

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1891

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,276 SF

ZONING

R2B

APN/PARCEL ID

11-029-24-14-0079

ASK ABOUT THIS PROPERTY

Zach BurnsideMRG Realty PartnersMore Info
612-865-0080

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Zach BurnsideMRG Realty PartnersMore Info
612-865-0080

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