2735 Aldrich AVE S Active Save Request In-Person Tour Request Virtual Tour
Minneapolis,MN 55408
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Penneys Sub 13 Russells Outlot
MLS Listing ID 6658670
Year Built 1920
Annual Tax Amount $24,137
Tax Year 2024
Lot Size 6,098 Sqft
Property Sub-Type Apartment
Property Description
Fantastic location and completely renovated 8-unit building in the heart of uptown, Minneapolis.
This wonderfully located 8 unit building recently completed a major renovation - including adding significant finished living space, all new kitchens and bathrooms, new & refinished floors, appliances, new roof, new plumbing and electrical throughout, fresh paint, trim and fixtures. The renovation wonderfully mixes the old charm and character of the original building with fresh updates throughout that will attract tenants and keep repair and maintenance expenses low.
Annual gross income is $151,200. Cap rate is above market at 8%.
Unit breakdown: 1BR+1 BA (4x). 2 BR+1 BA (2x). 3BR+ 2BA. 4BR+ 2BA. Two units are fully furnished and operating as STRs and mid-term rentals.
Location
State MN
County Hennepin
Zoning Residential-Multi-Family
Interior
Heating Boiler,Radiant
Cooling Window Unit(s)
Inclusions Building,Fixture/Equipment,Land,Leases,Rental License
Exterior
Parking Features Assigned,Asphalt,Paved,Open
Utilities Available Electric Separate,Heating Common,Hot Water Common
Roof Type Flat
Building
Story Two
Foundation 2816
Sewer City Sewer/Connected
Water City Water/Connected
Structure Type Brick/Stone
Schools
School District Minneapolis