707-709 5th St SE - Apartments FOR SALE


Minneapolis, MN 55414- Marcy-Holmes
$1,449,900 USD
952-445-5970
707-709 5th St SE, Minneapolis, MN for Sale
$1,449,900 USD
Apartments - FOR SALE
1/39
null | 5.8% Cap Rate

707-709 5th St SE
Minneapolis, MN 55414
Marcy-Holmes


OVERVIEW

TOURS: WEDNEDDAY, JUNE 18TH AND THURSDAY, JUNE 19TH – 10:00 TO 4:00 PM. Agents: 24-HOUR NOTICE FOR ALL SHOWINGS – NO EXCEPTIONS. The Listing Agent will attend all closing unless unable. 3-4 units available for initial showing. All units will become available to show upon an expected purchase agreement. Buyer Agents to verify all unit measurements. 707-709 5th Street Southeast in Minneapolis, MN is a well-maintained vintage 13-unit apartment property located in the heart of the Marcy Holmes neighborhood of Minneapolis. The building consists of nine 1-bedroom units and four studio units. Strong rental history with an opportunity to increase rents. Property has a 6-stall garage for added income. Currently only charging $45 per month. On-site laundry currently is not being charged. Storage units are in the basement and are currently included in the rent. Two more potential income sources. Marcy-Holmes is well known for its commercial districts, St. Anthony Main and Dinkytown, and its immediate proximity to the East Bank of the University of Minnesota-Twin Cities campus. Property is home to U of MN students and working-class individuals. Over 80% of the neighborhood is renters.

FOR SALE DETAILS

PRICE

$1,449,900 USD

PRICE/SF

$127 USD /SF

# OF UNITS

13

PRICE/UNIT

$111,531

CAP RATE

5.8%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1924

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

11,043 SF

ZONING

R2B

APN/PARCEL ID

24-029-24-23-0045

ASK ABOUT THIS PROPERTY

Jerry LindeenMetro Group Real EstateMore Info
952-445-5970

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Jerry LindeenMetro Group Real EstateMore Info
952-445-5970

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