1802 11th Ave S - Apartments FOR SALE


Minneapolis, MN 55404
$1,900,000 USD
612-325-2476
1802 11th Ave S, Minneapolis, MN for Sale
$1,900,000 USD
Apartments - FOR SALE
1/25
null | Request Cap Rate

1802 11th Ave S
Minneapolis, MN 55404


HIGHLIGHTS

  • WALKING DISTANCE TO US BANK STADIUM ! THIS IS THE FIRST BUILDING OVER THE 11TH AVE BRIDGE. COULD BE IDEAL FOR AN OWNER OCCUPANT TO LIVE FOR FREE !
  • THIS IS A ONE OF A KIND DESIGNER PROJECT; THE OWNER /Contractor DID MUCH OF THE WORK HIMSELF.
  • IT IS SET UP SO IT CAN BE CONDOMINIUMS BUT SHORT TERMS STAYS ARE MOST LIKELY THE BEST USE.
  • $100,000 of furniture included in the sale for short terms stays.
  • The entire top of the Parking Canopy is covered with solar panels.
  • CONTRACT FOR DEED TERM AVAILABLE.

OVERVIEW

THIS IS BASICALLY A BRAND NEW BUILDING WITH A BEAUTIFUL BROWNSTONE SHELL ! A return to the pre-covid use of short term stays will be the likely course of action for a new owner. The income was up to $229,000. There are many short term stay platforms now; not just AIRBNB. The current leases are month to month. CONTRACT FOR DEED TERMS considered with sizable down payment. The owner started out with 12 worn out apartments, gutted the entire building, and put in 6 brand new apartments / condominiums. The units are set up so they can be condos with the values showing up as $450,000 to $480,000. It is very energy efficient; it was insulted with spray foam and has solar panels.

FOR SALE DETAILS

PRICE

$1,900,000 USD

PRICE/SF

$215 USD /SF

# OF UNITS

6

PRICE/UNIT

$316,667

CAP RATE

Request Cap Rate

% 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

1902

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

MF

APN/PARCEL ID

26-029-24-34-0049

ASK ABOUT THIS PROPERTY

Steven PierceBridge RealtyMore Info
612-325-2476

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Steven PierceBridge RealtyMore Info
612-325-2476

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