$325,000

3853-55 Portland Avenue S

Minneapolis MN, 55407

Description

Investment property currently cash flowing $30,500 yr. (9.1% GROSS CAP RATE) Also perfect for an owner-occupant. Updates: 2015 boiler, 2012 roof, 2007 windows, 2017 sewer main & 2020 water main. 3rd FLOOR EXPANSION OPPORTUNITY for instant equity! tenants paying all utilities, a seamless transition with the current professional management company ( 10 years) & long term stable tenants you cant go wrong. In the 1,300 sq ft main floor apartment you will find hardwood floors, huge windows, high ceilings, original pocket doors, full bath, living room, dining room & office. Upper apartment features over 1,000 sq ft with hardwood floors, spacious bedrooms, office & HUGE walk-in closet. BBQ in the backyard or lounge on the front porch on those warm summer evenings! No lack of storage with a 2-stall garage, off-street parking for those snowy Minnesota winters & convenient on-site SHARED laundry not coin operated.

Details

MLS#5683678
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1889
Days On Site19

Features

SQ Feet2,394

Market Activity 55407

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Area Information
StateMN
CountyHennepin
CityMinneapolis
Zip Code55407
Listing VS Median (in 55407)
Price:
$325,000
low | high
Med:
$279,900
63.876923076923% of Average
SqFt:
2,394
low | high
Med:
1,299
95.739348370927% of Average
$ / SqFt:
$136
low | high
Med:
$215
8.721051696571% of Average
On Site:
19
low | high
Med:
30
63.333333333333% of Average
Listing Updated: November 20, 2020 8:17:39 AM PST
Darcy L. Christopherson LogoMLS Number: 5683678
Listing Provided By:
Darcy L. Christopherson  of  PRO Realty Services LLC

MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Northstar MLS.