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$2,380,000
Est. payment /mo
0.27 Acres Lot
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision G N Merriams Add
MLS Listing ID 6823043
Year Built 1959
Annual Tax Amount $6,766
Tax Year 2026
Contingent None
Lot Size 0.270 Acres
Acres 0.27
Lot Dimensions 75 X 159.75
Property Sub-Type Apartment
Property Description
Well-maintained 22-unit multifamily property in a prime Minneapolis location, featuring 5 studios and 17 one-bedroom units. Several recent improvements include updated units, refreshed common hallways, and a new roof. The property has been accepted into the 4d Affordable Housing Incentive Program, resulting in a 78.8% reduction in property taxes beginning in 2026, significantly enhancing long-term cash flow. Strong rental demand due to its proximity to Downtown Minneapolis, major transit lines, hospitals, and employment centers. Excellent opportunity for investors seeking a stabilized asset with substantial operating savings and continued value-add potential.
Location
State MN
County Hennepin
Zoning Residential-Multi-Family
Interior
Heating Boiler
Cooling Wall Unit(s)
Inclusions Building
Fireplace No
Exterior
Parking Features Parking Lot
Utilities Available Electric Separate
Present Use Residential
Building
Story Three Or More
Foundation 5100
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Three Or More
Structure Type Brick/Stone
Schools
School District Minneapolis
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Listed by Victoria Yepez • National Realty Guild
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