2818 31st St
$699,000
2818 31st St, Minneapolis, Mn 55406
0.1 acres
Lot Area
6
Units
Details:
Highlights:
- Lot Size Dimensions: 60X70
Description:
Amazing value add opportunity awaits! Prime 6 unit building in the growing Longfellow neighborhood! All the heavy lifting done with recent updates and unit turns, leaving just the leasing left to do! Two long term tenants remain in the building giving you a stable base of reliable income to start. Four units freshly turned and renovated giving the new owner the opportunity to place new tenants at market rate. Too many updates to list, see the supplements for a full list of improvements. New high efficiency boiler/hot water heater combi unit along with many new energy efficient appliances account for the extremely low operating cost as seen in the financials. Run your own numbers, but conservative estimates on rent with actual expenses have the building at a 7.6 cap, with aggressive rents hitting over a 9 cap. Schedule your showing today, and scoop up this cash flowing asset before its gone!
Location
Gallery
