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- ML#5349456
- TypePending
- CountyHENNEPIN
- CityMinneapolis
- AreaForest Heights
- NeighborhoodJordan
- Zip55411
- StyleResidential Income
- Year Built1904
- Taxes2939
- Price$ 424,900
- Bedrooms8
- Full Bathrooms2
- Half Bathrooms0
- Sqr Footage3588
- Lot Size5,663 SqFt
Listing Provided Courtesy Of:
Edina Realty, Inc.
Property Description
In the heart of Broadway & Penn. Come see all the new development that surround this Triplex. The building has been gutted and re-built; EVERYTHING IS NEW - Electrical, Plumbing, Duct Work, Water Heaters, HVAC, Framing, Insulation, Drywall, leveling of floors, Windows, bathrooms, kitchens, finish work, doors, AC and the list goes on. All units have separate front and back entrances, separate HVAC, separate utilities and a shared basement area for storage and laundry. 3 furnaces. 3 water heaters. 3 central air units. Common laundry area in basement. Storage space in basement. APPLIANCES ARE BEING INSTALLED. Sprinkler system in building. Based on the average rents and estimation for additional income, CAP Rates are coming in at 8.03% and Cash on Cash is 13.90% with 25% down at a rate of 4.5%. With tax breaks, that's a 17.24% return. These are the best returns I've seen in this market.
Price History | |
---|---|
7/13/2020 | Listed $474,900 |
7/28/2020 | 4% - $459,900 |
9/14/2020 | 3% - $449,900 |
9/24/2020 | 6% - $424,900 |
General Features
Construction Materials | Vinyl Siding, Brick/Stone |
---|---|
Contingency | None |
Heating | Forced Air |
High School District | Minneapolis |
New Construction | No |
Parking Features | Detached |
Property SubType | Triplex |
Property Type | Residential Income |
Sewer | City Sewer/Connected |
Standard Status | Pending |
Subdivision Name | Forest Heights |
Total Units | 3 |
Interior Features
Basement | Full, Daylight/Lookout Windows |
---|---|
Below Grade Finished Area | 1204 |
Fireplace Y/N | No |
Exterior Features
Lot Dimensions | 45x125 |
---|---|
Lot Size Area | 0.13 |
Lot Size Units | Acres |
Water Source | City Water/Connected |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Master On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool