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1705 2nd St NE 2 Unit Apartment Building For Sale Minneapolis, MN 55413
Investment Highlights
- Turn-key multifamily property in the Bottineau neighborhood of Northeast Minneapolis
- Strong rental demand fueled by proximity to shops, breweries, restaurants, parks, and recreational amenities
- Fully stabilized property providing consistent cash flow with minimal near-term capital needs
- Built in 2019 with modern units featuring 4 beds / 3 baths, open-concept layouts, and in-unit laundry
- Well-sized lot in a vibrant, walkable neighborhood with easy access to downtown Minneapolis and major employment hubs
- Northeast Minneapolis is a growing submarket with strong tenant retention and premium rental rates | Ideal for investors seeking a low-risk
Executive Summary
Spacious 4-bedroom layouts which are rare unit mixes anywhere in Minneapolis, new build with high end appliance finishes and top of the line construction, premium uptown location close to the lakes in a vibrant resurging area, premium finishes allowing for commanding rents and lighter maintenance burdens versus other buildings in the area, strong rental demand due to location and unit finishes make it a very desirable area to be in with history of 100% occupancy and very short lease up terms.
Property Facts
| Sale Type | Investment | Lot Size | 0.11 AC |
| No. Units | 2 | Building Size | 3,200 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Townhome | Year Built | 2019 |
| Building Class | C | ||
| Zoning | R2B | ||
| Sale Type | Investment |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 3,200 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2019 |
| Zoning | R2B |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+3 | 2 | - | 1,600 |
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Moderately walkable
60/100
Moderately drivable
70/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 14-029-24-22-0175 | Improvements Assessment | $451,800 |
| Land Assessment | $106,000 | Total Assessment | $557,800 |
Property Taxes
Parcel Number
14-029-24-22-0175
Land Assessment
$106,000
Improvements Assessment
$451,800
Total Assessment
$557,800
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