Property Description
11-unit all 1BR/1BA multifamily in Minneapolis's Powderhorn Park neighborhood offered at $1,175,000 ($106,818/door). Less than a block from Powderhorn Park's 66 acres of green space, lake, athletic fields, and recreation center, the property sits in one of the strongest rental locations in the submarket. Recent capital upgrades include a newer water heater and mechanicals, new sewer piping, and new LVP flooring in the lower level. Many units have been renovated with additional upside remaining on long term tenant turns. The property carries a very low tax base as part of the Minneapolis 4D program. Potential NOI of $94,017 with stable in-place cash flow and a straightforward value-add path on turns at a basis that still pencils in today's market. Available individually or as part of a 7-property, 89-unit South Minneapolis portfolio offered at $9,750,000. Refer to OM for more information.
Property Features
Property Type: Commercial - Business
Fuel Type: Electric, Natural Gas
Heating: Boiler
Lot Size: 0.21 Acres
Stories: 2.0
Taxes: $5,471
Year Built: 1963
Feature Descriptions
Current Use: Residential
Days on Site: 133
Foundation Size: 3190
Lot Dimensions: 75 X 123
Parcel#: 0202824420076
Parking: Parking Lot
Sale Includes: Building, Fixture/Equipment, Land, Rental License
Sewer: City Sewer/Connected
Units: 11
Utilities: Electric Common, Electric Separate, Heating Common, Hot Water Common
Water: City Water/Connected
Local Schools
School District: Minneapolis
Listed By / Shown By
Listed By
Agency Name: Commercial Investors Group LLC
Agency Phone: 612-598-0780
Shown By
Agent Name: Chad Piepho, Broker
Agent Phone: (218) 963-MOVE
Agency Title: Counselor Realty
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3521 12th Avenue S | MLS# 7088960
This commercial property located at 3521 12th Avenue S, Minneapolis, MN 55407 is currently listed for sale with an asking price of $1,175,000. 12th Avenue S is located within the Minneapolis school district. Search Minneapolis real estate on cpiepho.counselorrealty.com today.