3200 Bloomington Ave - Apartments FOR SALE


Minneapolis, MN 55407
$664,900 USD
651-900-4386
3200 Bloomington Ave, Minneapolis, MN for Sale
$664,900 USD
Apartments - FOR SALE
1/26
null | Request Cap Rate

3200 Bloomington Ave
Minneapolis, MN 55407


HIGHLIGHTS

  • Large 3/4 Bed units
  • Tenants pay their own gas, electric, and trash
  • Full remodel 2011

OVERVIEW

This large 4-plex went through a full remodel in 2011 (roof, windows, mechanicals, kitchens, bathrooms, ect..), each unit has its own utility meters, mechanicals, and in-unit laundry, making this building similar to a small condo building. Tenants pay their own Heat / Gas / Electric! Lots of storage is available in the basement with a separate entrance in the back for convenient access. Current rents are well below market for other 3-beds in the area, which can support an estimated 1700-1800 / M for similar units with in-unit laundry and furnace heat. Unit 1 was converted to 4-bed unit in the past, and unit 2 could be made into a similar 4-bed unit. The limited availability of 3- and 4-bedroom units in the area further strengthens the investment upside.

FOR SALE DETAILS

PRICE

$664,900 USD

PRICE/SF

$84 USD /SF

# OF UNITS

4

PRICE/UNIT

$166,225

CAP RATE

Request Cap Rate

% LEASED

75%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

3200 Bloomington Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1912

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,356 SF

ZONING

R5

APN/PARCEL ID

02-028-24-13-0018

ASK ABOUT THIS PROPERTY

Doug McNicollMRG Realty PartnersMore Info
651-900-4386

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Doug McNicollMRG Realty PartnersMore Info
651-900-4386

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