Minneapolis, MN 55407 1529 E 38th Street
$1,200,000
Pending
51 more
Presented By: Keller Williams Classic Rlty NW
SQFT • 7,893
Home Details
Great cash flowing investment opportunity for sale in Minneapolis! This 11 unit apartment building has 1-bedroom and 1-bathroom in each unit. This building has been very well maintained and has over $200k in recent capital improvements! Each unit has been updated along with all the common areas. Recent building improvements include a concrete surface parking lot, high efficiency boiler and zone valves, roof, gutters, soffits, downspouts, windows, and separately metered electrical. Conveniently located close to restaurants, highways, public transportation, shopping, parks and more. Don’t miss this opportunity to own a quality multifamily property!
Presented By: Keller Williams Classic Rlty NW
Interior Features for 1529 E 38th Street
Other Interior Features
Basement (Y/N)No
FuelNatural Gas
General for 1529 E 38th Street
AccessibilityNone
Additional Parcels Y/NNo
Amenities UnitHardwood Floors, Kitchen Window, Natural Woodwork, Tile Floors
AppliancesCooktop, Range, Refrigerator, Wall Oven
Association AmenitiesCoin-op Laundry Owned
CityMinneapolis
Construction MaterialsBrick/Stone
ContingencyNone
CoolingWall Unit(s)
CountyHennepin
Current UseCommercial, Residential
DirectionsTake MN-55 E to Hiawatha Ave, turn right onto E 26th St, left onto Cedar Ave S, Right onto E 38th St, Property on left
Electric Expense420
Garage Spaces
Gross Income138343
HeatingBoiler
High School DistrictMinneapolis
Insurance Expense6500
Land Lease Y/NNo
Lender OwnedNo
LevelsThree Or More
Lot Size UnitsAcres
Net Operating Income100529
NumberOfUnitsTotal11
OwnerPaysFuel, Insurance, Janitorial Service, Grounds Care, Repairs, Sewer, Snow Removal, Taxes, Trash Collection
PostalCityMinneapolis
Property SubtypeApartment, Low Rise
Property TypeCommercial Sale
RoofAge 8 Years or Less
SewerCity Sewer/Connected
Standard StatusPending
Subdivision NameMonroe Bros Sub Of Lts Herrick Haml
Tax Annual Amount15916
Tax Year2024
Tenant PaysCable TV, Electricity
Trash Expense2340
UtilitiesElectric Common, Heating Common, Hot Water Common
Water Sewer Expense3288
Year Built1959
Zoning DescriptionBusiness/Commercial, Residential-Multi-Family
Exterior for 1529 E 38th Street
Building Area Total7893
Foundation Area2624
InclusionsBuilding, Fixture/Equipment, Land, Leases
Lot Dimensions92x92x92x92
Lot FeaturesPublic Transit (w/in 6 blks)
Lot Size Area0.19
Parking FeaturesConcrete, Other
Water SourceCity Water/Connected
Additional Details
Price History
Patty Zuzek
Broker MN and WI