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PLEASANT APARTMENTS

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Address: 6413 Pleasant Ave, Minneapolis, MN 55423, USA

Chicago & Midwest + Apartment Buildings

Created date: February 16, 2024

Date last updated: September 15, 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 PLEASANT AVENUE APARTMENTS IS A VERY CLEAN AND WELL MAINTAINED 11-UNIT LOCATED IN THE HEART OF RICHFIELD, MINNESOTA. THE OWNERSHIP GROUP HAS COMPLETED 10 OF THE 11 UNITS WITH HIGH END KITCHEN REMODELS INCLUDING NEWER CABINETS, COUNTER TOPS, AND ENERGY EFFICIENT STAINLESS STEEL APPLIANCE PACKAGES WITH DISHWASHERS. TWO OF THE APARTMENTS HAVE BUILT-IN MICROWAVES. EXTERIOR UPDATES INCLUDE NEWER WINDOWS, FACIA AND GUTTERS, A NEWER ROOF REPLACED IN 2104, AND SECURED FRONT AND BACK ENTRY DOORS WITH SIDELITES. THE HOT WATER BOILER WAS REPLACED WITH A HIGH EFFICIENCY BOILER IN THE SPRING OF 2024. MANAGED PROFESSIONALLY BY THE OWNER, NO DELINQUENCIES, AND IN TURN-KEY CONDITION!!

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Key Property Information

Listing Status:	Available
Listing Type:	Highest & best offer
Property Types:	Apartment Buildings
Price:	$1,349,900
No. of Units:	11
Cap Rate:	6.16%
GRM /GIM:	11.04
Year Built:	1961
Year Renovated:	2020
Building Size:	11,400 Sq ft
Lot Size:	0.28 Acres
No. of Stories:	3
APN:	27-028-24-24-0017
Zoning Code:	Multi-Family
Opportunity Zone:	No
Price per unit:	$122,718
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