5-Unit Apartment for Sale Southwest Minneapolis – SOLD
This property was located on 3912 Blaisdell Avenue, in the Kingfield neighborhood, right next to the Rev. Dr. Martin Luther King Jr. Memorial Park, East Harriet, Lyndale Farmstead Recreation Center, Lake Harriet, Lake Calhoun, and Lake Harriet Park.
I have just listed a beautifully renovated 5 unit apartment building in the Kingfield Neighborhood of South Minneapolis. The property has two 3 bedroom units, two 2 beds, and one 1 bedroom unit. As you can see the updates included new cabinetry in the kitchens along with Stainless steel appliances new counters and flooring and lighting. Fresh contemporary paint on the interior and exterior along with all 44 windows and a new roof in 2009. Five new Forced Air Furnaces were added last year and the tenants pay for their heat.
The yearly income is $77,760 and expenses are $16,230. The CAP Rate is just over 7.
Please call me if you have any questions or would like to see the building. 612 332 9000