About 3521 12th Avenue S
11-unit all 1BR/1BA multifamily in Minneapolis's Powderhorn Park neighborhood offered at $1,175,000 ($106,818/door). Less than a block from Powderhorn Park's 66 acres of green space, lake, athletic fields, and recreation center, the property sits in one of the strongest rental locations in the submarket. Recent capital upgrades include a newer water heater and mechanicals, new sewer piping, and new LVP flooring in the lower level. Many units have been renovated with additional upside remaining on long term tenant turns. The property carries a very low tax base as part of the Minneapolis 4D program. Potential NOI of $94,017 with stable in-place cash flow and a straightforward value-add path on turns at a basis that still pencils in today's market. Available individually or as part of a 7-property, 89-unit South Minneapolis portfolio offered at $9,750,000. Refer to OM for more information.
Features of 3521 12th Avenue S
| MLS® # | 7088960 |
|---|---|
| Price | $1,175,000 |
| Acres | 0.21 |
| Year Built | 1963 |
| Type | Commercial Sale |
| Status | Active |
Community Information
| Address | 3521 12th Avenue S |
|---|---|
| Area | 64 |
| Subdivision | Bloomington Ave Add |
| City | Minneapolis |
| County | Hennepin |
| State | MN |
| Zip Code | 55407 |
Amenities
| Utilities | Electric Common, Electric Separate, Heating Common, Hot Water Common |
|---|---|
| Parking | Parking Lot |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Boiler |
|---|---|
| Fireplace | No |
Exterior
| Exterior Features | Stone, Vinyl |
|---|
School Information
| District | Minneapolis |
|---|
Additional Information
| Days on Market | 93 |
|---|---|
| Zoning | Residential-Multi-Family |
| Foreclosure | No |
| Short Sale | No |
| Taxes | $5,471 |
Listing Details
| Office | Commercial Investors Group LLC |
|---|