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1623 W Lake St 6 Unit Apartment Building $1,445,000 ($240,833/Unit) Minneapolis, MN 55408
EXECUTIVE SUMMARY
PROPERTY HIGHLIGHTS
• Total acreage 0.14 acres: 1623 W Lake St.
• Potential adjacent property to double size
• Highest and best use: Multi-family, potential for 5-10 floors based on city priorities
• Height and density consideration subject to specific city approval
• Building year 1917; 6 Unit low rise, 3 story apartment building
• Price: $1,445,000
• Total acreage 0.14 acres: 1623 W Lake St.
• Potential adjacent property to double size
• Highest and best use: Multi-family, potential for 5-10 floors based on city priorities
• Height and density consideration subject to specific city approval
• Building year 1917; 6 Unit low rise, 3 story apartment building
• Price: $1,445,000
PROPERTY FACTS
| Price | $1,445,000 | Building Class | C |
| Price Per Unit | $240,833 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 5,656 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1917 |
| Property Subtype | Apartment | Parking Ratio | 1.06/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | CM1 - Community Mixed-Use District allows large-scale mixed use development with commercial uses fronting on major streets. | ||
| Price | $1,445,000 |
| Price Per Unit | $240,833 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 5,656 SF |
| No. Stories | 3 |
| Year Built | 1917 |
| Parking Ratio | 1.06/1,000 SF |
| Zoning | CM1 - Community Mixed-Use District allows large-scale mixed use development with commercial uses fronting on major streets. |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Walking/Biking Trails
- Storage Space
- Public Transportation
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 6 | - | - |
Walk Score®
Walker's Paradise (91)
Bike Score®
Biker's Paradise (93)
PROPERTY TAXES
| Parcel Number | 04-028-24-21-0042 | Improvements Assessment | $596,300 |
| Land Assessment | $295,700 | Total Assessment | $892,000 |
PROPERTY TAXES
Parcel Number
04-028-24-21-0042
Land Assessment
$295,700
Improvements Assessment
$596,300
Total Assessment
$892,000
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1623 W Lake St
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