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Great Investment Opportunity | 11-Unit Apartment Building Located In Minneapolis

$1,100,000

1529 E 38th St, Minneapolis, MN 55407

Active
Last Updated: 03/28/2025

7,893 sqft

Building Size

0.195 acres

Lot Area

Details:
Building Size:    7,893 sqft
Lot Area:    0.195 acres
Occupancy:    97%
Class:    C
Units:    11
Year Built:    1959
Floors:    3
Highlights:
  • - 7,893 SF multifamily building with 11 units
  • - 11 units each have 1-bedroom and 1-bathroom
  • - Zoned CM2 for commercial/multifamily use
  • - Prime location in Minneapolis/St. Paul area
  • - Currently 100% occupied
  • - Excellent investment opportunity
  • - Separately metered electrical
  • - Over $200k in recent capital improvements
  • - New roof, gutters, soffits, downspouts
  • - Newer concrete surface parking lot
  • - Newer high efficiency boiler and zone valves
  • - Newer windows
  • - New electrical panels in each unit
Description:

Great cash flowing investment opportunity for sale in Minneapolis! This 11 unit apartment building has 1-bedroom and 1-bathroom in each unit. This building has been very well maintained and has over $200k in recent capital improvements! Each unit has been updated along with all the common areas. Recent building improvements include a concrete surface parking lot, high efficiency boiler and zone valves, roof, gutters, soffits, downspouts, windows, new electrical panels in each unit and separately metered electrical. Conveniently located close to restaurants, highways, public transportation, shopping, parks and more. Don’t miss this opportunity to own a quality multifamily property!

Immerse yourself in the enticing surroundings of our location in Minneapolis, MN. Nestled near the vibrant E 38th Street, the area offers an array of dining options, including popular establishments like Hi-Lo Diner and Northbound Smokehouse & Brewpub, ideal for casual get-togethers or date nights. Embrace the local arts and culture scene at the nearby Minneapolis Institute of Art and explore the diverse culinary offerings at the iconic Midtown Global Market. Convenient access to major roadways and public transit makes commuting a breeze, catering to the needs of modern urban living. With an abundance of amenities and attractions, this neighborhood provides an appealing setting for those seeking a dynamic and connected community.


Owner is responsible for fuel, insurance, janitorial, lawn, maintenance, snow removal, taxes, trash, water/sewer

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