5th Street 11-Unit

515 5th Street SE Minneapolis, MN 55414

515 5th Street SE, Minneapolis, MN, 55414
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FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$1,600,000
Last Verified:
Apr 03, 2024

Highlights

  • 11 Units
  • Close to the University of MN
  • Easy to manage
  • Tons of upside with rent increases and utilities moved to tenants
  • Sale Price: $1,600,000
  • Unit Mix:
  • 10, 2 BR & 1 BA Units
  • 1, 3BR & 1 BA Units
  • Lot Size: 10,978 SF
  • Building Size: 7,776 SF
  • Year Built: 1960

Description

Come see this rarely available, easy to manage brick 11 unit apartment building right next to the U of M campus! All units are two bedrooms in addition to a brand new basement 3 bedroom unit. This property is neat, tidy, square, and easy to maintain with full brick exterior and newer flat roof. Huge rear parking lot with space for every unit. Mechanicals have been meticulously maintained. Long term owner who has been very active in maintaining great condition throughout. Never have an issue with vacancy again! This location is special, easy to rent, and quiet. Don't miss out on this opportunity.

Centrally located and easy to manage 11-Unit apartment
building near the University of MN campus! Majority of the units
are 2-BR with one being a hard to find 3-BR that has been recently
updated. This property is in solid condition with longstanding
tenants in place and an opportunity for rent increases over time as
current tenants vacate.

Full brick exterior and a newer flat roof. Park off-street in the rear
parking lot behind building, with plenty of space for each unit. Well
maintained mechanicals and solid ownership. Boiler Heat and
Natural Gas Fuel. Residential/Multi-Family zoning. Public
Transportation is within walking distance to building. This is a
quiet and well leased location for your next investment property.

Tenants pay for Electric & Phone/Internet. Landlord pays for all
other building expenses.

Wonderful location, with tons of nearby restaurants & amenities and close to the U of MN.
35 W to 4th St Exit to 5th Ave, to 5th Street SE


Year Built: 1960
Building Size: 7776sq ft
Lot Size: 0.25 acres


Documents

Offering Memorandum
515 5th Street SE - Rent Rolls (Current & ProForma). 04.03.24.pdf
515 5th Street SE _ FINANCIALS.pdf

Map of 515 5th Street SE, Minneapolis, MN, 55414

Presented by:
KW Commercial | The Summit CRE Group

Request additional information
Chad Heer, CCIM


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