3029 Garfield Ave S - Apartments FOR SALE


Minneapolis, MN 55408
$930,000 USD
952-847-3406
3029 Garfield Ave S, Minneapolis, MN for Sale
$930,000 USD
Apartments - FOR SALE
1/16
null | 6.43% Cap Rate

3029 Garfield Ave S
Minneapolis, MN 55408


HIGHLIGHTS

  • Seller Financing Available! (Contract For Deed)
  • Fully Renovated in 2021/22, and Fully Leased
  • Eight On-Site Parking Spaces

OVERVIEW

CONTRACT FOR DEED AVAILABLE! Fantastic investment opportunity to buy an apartment with seller-financing in the heart of Lyn-Lake! This fully renovated, fully occupied, six-unit building at 3029 Garfield offers modern, updated units with leases running through Summer of 2025. The unit mix consists of 1 x studio, and 5 x one-bedrooms. Tenants enjoy the convenience of mobile-friendly laundry and eight dedicated parking spaces. The property generates over $7,300/month, which includes revenue from rent, parking, pet fees, RUBs, and laundry. A turnkey investment in one of Minneapolis’s most popular rental areas—this is an income-producing property you won’t want to miss! The property can be purchased on a contract for deed with the following terms: 25+% down, 5.0% interest, interest-only monthly payments, on a seven-year term.

FOR SALE DETAILS

PRICE

$930,000 USD

PRICE/SF

$194 USD /SF

# OF UNITS

6

PRICE/UNIT

$155,000

CAP RATE

6.43%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

3029 Garfield Ave

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1960

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

R4

APN/PARCEL ID

03-028-24-22-0064

ASK ABOUT THIS PROPERTY

Paul BegichEMORY PropertiesMore Info
952-847-3406

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Paul BegichEMORY PropertiesMore Info
952-847-3406

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