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2800 Stevens Ave 5 Unit Apartment Building $918,209 CAD ($183,642 CAD/Unit) Minneapolis, MN 55408
Investment Highlights
- Individual thermostats for Heat and individual air conditioners.
- Nice looking old fashioned yard lights.
- There is the option of installing a 6th apartment.
Executive Summary
6th UNIT OPTION! ZONING ALLOWS FOR IT AND THERE IS SPACE IN THE LOWER LEVEL. There is a 1/2 bath already there and some finished space because the current owners had intended to put in an office. There are all month to month leases so a new owner is free to proceed with any plan desired. Shingle, not flat roof. Fenced yard with unique old fashioned lighting in the yard. The current rents are low at $1,000 and $1,100. I believe $1,250 is easily obtainable but buyers can verify.
Property Facts
| Price | $918,209 CAD | Building Class | C |
| Price Per Unit | $183,642 CAD | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 4,800 SF |
| Gross Rent Multiplier | 9 | Average Occupancy | 80% |
| No. Units | 5 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1969 |
| Property Subtype | Apartment | Parking Ratio | 1.04/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R5 - Allows for a 6th unit. | ||
| Price | $918,209 CAD |
| Price Per Unit | $183,642 CAD |
| Sale Type | Investment |
| Gross Rent Multiplier | 9 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 4,800 SF |
| Average Occupancy | 80% |
| No. Stories | 3 |
| Year Built | 1969 |
| Parking Ratio | 1.04/1,000 SF |
| Zoning | R5 - Allows for a 6th unit. |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Microwave
- Heating
- High Speed Internet Access
- Refrigerator
- Oven
- Tub/Shower
- Freezer
- Smoke Free
Site Amenities
- 24 Hour Access
- Controlled Access
- Fenced Lot
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $1,700 CAD | 750 |
| 1+1 | 1 | $1,700 CAD | 750 |
1 1
Walk Score®
Walker's Paradise (90)
Bike Score®
Biker's Paradise (96)
Property Taxes
| Parcel Number | 34-029-24-43-0096 | Improvements Assessment | $671,177 CAD |
| Land Assessment | $128,685 CAD | Total Assessment | $799,862 CAD |
Property Taxes
Parcel Number
34-029-24-43-0096
Land Assessment
$128,685 CAD
Improvements Assessment
$671,177 CAD
Total Assessment
$799,862 CAD
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2800 Stevens Ave
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