515 5th Street SE

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Address: 515 5th Street SE, Minneapolis, Minnesota, US
Created date: February 16, 2024
Date last updated: April 3, 2024
  • 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

Property 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.

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Multifamily type: Apartments
Price: $1,600,000
No. of Units: 11
Year Built: 1960
Lot Size: 0.25 Sq ft
Opportunity Zone: No
Price per unit: $145,455
Property Website Click Here
Address: 515 5th Street SE, Minneapolis, MN 55414, USA
Provided by:

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