PLEASANT APARTMENTS

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Address: 6413 Pleasant Ave, Minneapolis, MN 55423, USA
Created date: February 16, 2024
Date last updated: April 25, 2024
  • Unit Mix 11 – One BD, One BA / Approx. 680 SqFt.
  • Property ID: # PID #27-028-24-24-0017 (Hennepin County) / 0.28 Acres
  • Heating: Brand New Heating Boiler / Water Heater New 2019
  • Roof : Flat EPDM Rubber Membrane Roof / New in 2014
  • Windows: All Newer Vinyl Replacement Windows in 2015
  • Property Type: Two and a Half Story all Brick Exterior / Built 1961
  • Parking: Parking Lot Newly Resurfaced / 11+ Parking Spaces
  • Renovations: Ten of the Eleven Apartments Now Renovated!  New Mocha Color Cabinets, New Doors & Trim & LVP
  • Laundry: Owned Coin-Operated Washer & Dryer / 2 Sets

Property Description

PLEASANT AVENUE APARTMENTS IS A VERY CLEAN AND WELL MAINTAINED 11-UNIT LOCATED IN THE HEART OF RICHFIELD, MN. THE OWNER HAS COMPLETED 10 OF THE 11 UNITS WITH HIGH END KITCHEN REMODELS WITH NEWER CABINETS, COUNTER TOPS, AND ENERGY EFFICIENT STAINLESS STEEL APPLIANCE PACKAGES INCLUDING DISHWASHERS. TWO OF THE APARTMENTS HAVE BUILT-IN MICROWAVES. EXTERIOR FEATURES NEWER WINDOWS AND ROOF. THE HOT WATER BOILER RECENTLY WAS REPLACED WITH A HIGH EFFICIENCY BOILER!! PROFESSIONALLY MANAGED, NO DELINQUENCIES, AND 100% FULL!!

Key Property Information

Listing Status: Available
Listing Type: Highest & best offer
Property Types: Apartment Buildings
Price: $1,375,000
No. of Units: 11
Cap Rate: 6.05%
GRM /GIM: 11.25
Year Built: 1961
Year Renovated: 2020
Lot Size: 0.28 Acres
No. of Stories: 3
APN: 27-028-24-24-0017
Zoning Code: Multi-Family
Buy Side Fee: 1%
Opportunity Zone: No
Price per unit: $125,000
Parking Spaces: 11
Property Website Click Here
Address: 6413 Pleasant Ave, Minneapolis, MN 55423, USA

Unit mix

Description No. of Units Sq ft. Avg. Monthly Rent
1BD, 1BA 11 680 1000

FINANCIAL DETAILS

Income/expense info: Pro Forma
Financial year: 2024
Gross income: 122193
Effective Gross income: 122193
Operating expenses: 38974
Net operating income: 83218
Pre-tax cashflow: 83218

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