3606 E 34th St - Apartments FOR SALE


Minneapolis, MN 55406- Longfellow
$750,000 USD
3606 E 34th St, Minneapolis, MN for Sale
$750,000 USD
Apartments - FOR SALE
1/33
null | 8.64% Cap Rate

3606 E 34th St
Minneapolis, MN 55406
Longfellow


HIGHLIGHTS

  • Newer High Efficiency Hot Water Boiler
  • Newer Water Heater
  • Coin-Operated Washer and Dryers Owned
  • All Kitchens and Bathrooms Renovated
  • Fully 100% Occupied and Turn-Key
  • In-Place 8.63 Cap Rate with Current Rents

OVERVIEW

Spectacular six unit recently renovated with all new kitchens and bathrooms. Unit mix is five one-bedroom and one studio apartment all with one full bathroom. Three story all-brick exterior, sitting on 0.13+ acres with off street parking lot. 100% fully rented with on-site coin operated laundry and a newer water heater and high efficiency boiler. The average one-bedroom rents are $1,296 and the studio is at $1,195. This asset is in turn-key condition with a stabilized in place cap rate of 8.63% along with a 7.94 gross rent multiplier. Perfect for the first time investor or for your next 1031 tax exchange.

FOR SALE DETAILS

PRICE

$750,000 USD

PRICE/SF

$165 USD /SF

# OF UNITS

6

PRICE/UNIT

$125,000

CAP RATE

8.64%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1963

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

OR1

APN/PARCEL ID

06-028-23-24-0229

ASK ABOUT THIS PROPERTY

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