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3343 15th Ave S 5 Unit Apartment Building $580,000 ($116,000/Unit) Minneapolis, MN 55407
Investment Highlights
- Value-add opportunity in a proven South Minneapolis rental location
- Desirable unit mix: four 1BD units and one 3BD unit
- Convenient access to retail and restaurants along Lake Street
- Pro forma cap rate of 8.58% with NOI upside through operational efficiencies
- Located directly adjacent to Powderhorn Park with trails and green space
- Recently updated boiler and newer mechanical updates
Executive Summary
Kurt Sauer
License # 40628602, 41005445 (MN)
Matthews of Minnesota, LLC
701 Xenia Ave S, Ste 485 Minneapolis MN 55416
(866) 889-0550
License # 40628602, 41005445 (MN)
Matthews of Minnesota, LLC
701 Xenia Ave S, Ste 485 Minneapolis MN 55416
(866) 889-0550
Property Facts
| Price | $580,000 | Building Class | C |
| Price Per Unit | $116,000 | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 3,794 SF |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1905 |
| Property Subtype | Apartment | ||
| Zoning | R2B | ||
| Price | $580,000 |
| Price Per Unit | $116,000 |
| Sale Type | Investment |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 3,794 SF |
| No. Stories | 2 |
| Year Built | 1905 |
| Zoning | R2B |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 3+1 | 1 | - | - |
1 1
Very walkable
80/100
Moderately drivable
60/100
Good public transit
70/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 02-028-24-13-0007 | Improvements Assessment | $446,700 |
| Land Assessment | $67,300 | Total Assessment | $514,000 |
Property Taxes
Parcel Number
02-028-24-13-0007
Land Assessment
$67,300
Improvements Assessment
$446,700
Total Assessment
$514,000
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