1529 38th St E - Apartments FOR SALE


Minneapolis, MN 55407
$1,200,000 USD
763-226-7911
1529 38th St E, Minneapolis, MN for Sale
$1,200,000 USD
Apartments - FOR SALE
1/52
null | 8.38% Cap Rate

1529 38th St E
Minneapolis, MN 55407


HIGHLIGHTS

  • 7,893 SF multifamily building with 11 units
  • Zoned CM2 for commercial/multifamily use
  • Currently 100% occupied
  • Excellent investment opportunity
  • Over $200k in recent capital improvements
  • New roof, gutters, soffits, downspouts. Newer concrete surface parking lot, newer boiler/zone valves, newer windows

OVERVIEW

Great cash flowing investment opportunity for sale in Minneapolis! This 11 unit apartment building has 1-bedroom and 1-bathroom in each unit. This building has been very well maintained and has over $200k in recent capital improvements! Each unit has been updated along with all the common areas. Recent building improvements include a concrete surface parking lot, high efficiency boiler and zone valves, roof, gutters, soffits, downspouts, windows, and separately metered electrical. Conveniently located close to restaurants, highways, public transportation, shopping, parks and more. Don’t miss this opportunity to own a quality multifamily property!

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$133 USD /SF

# OF UNITS

11

PRICE/UNIT

$109,091

CAP RATE

8.38%

% 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

1959

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,276 SF

ZONING

CM

APN/PARCEL ID

11-028-24-11-0076

ASK ABOUT THIS PROPERTY

Amber LangeCreative Property ProfessionalsMore Info
763-226-7911

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Amber LangeCreative Property ProfessionalsMore Info
763-226-7911

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