3001 N 3rd St - Apartments FOR SALE


Minneapolis, MN 55411- Hawthorne
$974,900 USD
651-755-3543
3001 N 3rd St, Minneapolis, MN for Sale
$974,900 USD
Apartments - FOR SALE
1/57
null | 7.36% Cap Rate

3001 N 3rd St
Minneapolis, MN 55411
Hawthorne


HIGHLIGHTS

  • Professional Camera System with Key Fob Access
  • All 8 units renovated in 2022
  • New High Efficiency Boiler in 2022

OVERVIEW

Turn-key 8-unit apartment building offering a cash-flowing investment at affordable rent levels. The property includes six 2-bedroom, 1-bath units and two 1-bedroom, 1-bath units. Units have been recently renovated, including new kitchens, countertops, flooring, and fixtures. Rents are set below 50% of the area median income (AMI), and the building is enrolled in the Minneapolis 4d Affordable Housing Program, providing approximately 40% in annual property tax savings. Additional improvements include upgraded mechanical systems, commercial-grade security and access controls, and a newly paved parking lot with off-street parking and on-site laundry. The building is fully stabilized; however, Unit #3 has been intentionally left vacant to accommodate showings.

FOR SALE DETAILS

PRICE

$974,900 USD

PRICE/SF

$132 USD /SF

# OF UNITS

8

PRICE/UNIT

$121,863

CAP RATE

7.36%

% LEASED

88%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,148 SF

ZONING

R2B

APN/PARCEL ID

10-029-24-32-0084

ASK ABOUT THIS PROPERTY

Matt RichLPT RealtyMore Info
651-755-3543

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Matt RichLPT RealtyMore Info
651-755-3543

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