For Sale: Minneapolis MLS# 6735952
Active
NEW!
$1,449,900
Commercial: Apartments
Built 1924
0.25 acres
Minneapolis schools
MLS# 6735952
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Property Description
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.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,449,900
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
6
County:
Hennepin
Year Built:
1924
State:
MN
Property Style:
Apartments
Zip Code:
55414
Neighborhood/Area:
Marcy Holmes
Subdivision Name:
Mill Cos Add To St Anthony Falls
Interior
Ranges:
One Per Unit
Refrigerators:
One Per Unit
Appliances Included:
- Range
- Refrigerator
Exterior
Stories:
Two
Garage Spaces:
6
Garage Dimensions:
10 x 20
Garage Size:
1,200 ft2
Garage Door Height:
8
Garage Door Width:
8
Other Parking Spaces:
3
Air Conditioning:
Window Unit(s)
Foundation Size:
3,814 ft2
Foundation Dimensions:
40 x 95
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Boiler
Parking Features:
Parking Lot
Shared Amenities:
None
Unit Amenities:
None
Road Frontage:
- Paved Streets
- Sidewalks
- Street Lights
Exterior Material:
Brick/Stone
Roof Details:
- Age Over 8 Years
- Rubber
Rooms
Shared Rooms:
Other
Lot & Land
Acres:
0.25
Geolocation:
44.985499, -93.243976
Inclusions:
Building, Leases, Rental License
Lot Dimensions:
66.00 X 165.00
Zoning:
Residential-Multi-Family
Lot Description:
Many Trees
Farm
Topography:
Level
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$1,080
Annual Fuel Expense:
$6,144
Annual Insurance Expense:
$11,028
Annual Maintenance Expense:
$2,800
Annual Gross Expense:
$54,420
Annual Trash Expense:
$1,000
Annual Water/Sewer Expense:
$1,880
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$21,702
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$21,702
Income
Annual Gross Income:
$141,360
Rent
Annual Net Income:
$82,699
Units
Total Units:
13
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer - In Street
Available Utilities:
- Electric Separate
- Heating Common
- Hot Water Common
Water System:
City Water - In Street
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Listing provided by RMLS,
courtesy of Metro Group Real Estate.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.