Margaret Fernandez
Property Description
12-unit all 1BR/1BA multifamily in Minneapolis's Corcoran neighborhood offered at $1,225,000 ($102,083/door). This two-story brick and stucco building sits on a large lot in one of south Minneapolis's most consistently occupied submarkets. The property has been steadily upgraded with newer electric panels, a new front concrete stoop, and many units remodeled. Part of the Minneapolis 4D program providing low taxes and energy saving appliance upgrades. Augsburg College, North Central University, and Abbott Northwestern Hospital are all within minutes, providing a steady and diverse renter demand base. Potential NOI of $97,662 with clear value-add upside remaining on turns. Available individually or as part of a 7-property, 89-unit South Minneapolis portfolio offered at $9,750,000. Please review the OM for more information.
Property Features
Property Type: Commercial - Business
Fuel Type: Electric, Natural Gas
Heating: Boiler
Lot Size: 0.29 Acres
Stories: 2.0
Taxes: $7,578
Year Built: 1962
Feature Descriptions
Current Use: Residential
Days on Site: 136
Foundation Size: 1680
Lot Dimensions: 100.00 X 125.00
Parcel#: 0102824220029
Parking: Parking Lot, Paved Lot
Sale Includes: Building, Fixture/Equipment, Rental License
Sewer: City Sewer/Connected
Units: 12
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: Margaret Fernandez
Agent Phone: (763) 221-4841
Agency Title: Counselor Realty
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3021 Longfellow Avenue | MLS# 7088925
This commercial property located at 3021 Longfellow Avenue, Minneapolis, MN 55407 is currently listed for sale with an asking price of $1,225,000. Longfellow Avenue is located within the Minneapolis school district. Search Minneapolis real estate on mfernandez.counselorrealty.com today.