3021 Longfellow Avenue,Minneapolis, MN 55407
Minneapolis, MN 55407
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.
Details
| MLS # | 7088925 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1962 |
| Days On Site | 120 |
| Listing Provided By | Commercial Investors Group LLC | Mike Sowers |
Features
| SQ Feet | 5,040 |
|---|---|
| Story(s) | 2 |
| Units | 12 |
| Zoning | Residential-Multi-Family |
| Acreage | 0.29 |
Interior
| Heating | Boiler |
|---|
Parking
| Parking Features | Parking Lot, Paved Lot |
|---|
Utilities
| Utilities | Electric Common, Electric Separate, Heating Common, Hot Water Common |
|---|
Taxes
| Property | 7578 |
|---|
Area Information
| State | MN |
|---|---|
| County | Hennepin |
| City | Minneapolis |
| Zip Code | 55407 |
| Area | 16 |
| Community Name | Minnehaha Add |
| School District | 1 |
| High School | Minneapolis |
| Listing VS Median (in Minnehaha Add) | |
Price: $1,225,000 low | high Med: $1,012,500 sqft: 5,040 low | high Med: 6,372 $ / sqft: $243 low | high Med: $160 On site: 120 low | high Med: 104.5 | |
Market Activity 55407
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Listings courtesy of Northstar MLS as distributed by MLS GRID.
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Learn More About This Property
| State | MN |
|---|---|
| County | Hennepin |
| City | Minneapolis |
| Zip Code | 55407 |
| Area | 16 |
| Community Name | Minnehaha Add |
| School District | 1 |
| High School | Minneapolis |
| Listing VS Median (in Minnehaha Add) | |
Price: $1,225,000 low | high Med: $1,012,500 sqft: 5,040 low | high Med: 6,372 $ / sqft: $243 low | high Med: $160 On site: 120 low | high Med: 104.5 | |