2700 Garfield AVE, Minneapolis, MN 55408 - MLS#6624560

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Brandon Anderson

brandon@brandonanderson.com +1(612) 490-0638

$1,200,000

Est. payment - /mo

5,227 Sqft Lot

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UPDATED:

10/30/2024 02:05 AM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Hedderly & Mcgreggors Add

MLS Listing ID 6624560

Year Built 1959

Annual Tax Amount $16,315

Tax Year 2024

Contingent None

Lot Size 5,227 Sqft

Acres 0.12

Lot Dimensions 118'x42'

Property Description

MOTIVATED SELLER - Encouraging Offers! Located in the heart of the Whittier neighborhood, this beautifully renovated 8-unit apartment presents an exceptional investment opportunity - featuring a unit mix of seven x one-bedroom units and one x studio, along with five parking stalls. With a mix of long-term tenants and fully furnished mid-term and short-term units, this property is already generating strong income, grossing north of $11,000 per month, representing an in-place cap rate of 7.81%! The property has undergone an extensive renovation, addressing everything from the exterior fa�ade and landscaping to the common areas and in-unit upgrades. Each unit is tastefully updated, ensuring a modern living experience for all residents. Whether you're looking to expand your portfolio or seeking a solid investment in a vibrant Minneapolis neighborhood, 2700 Garfield Avenue South offers a rare blend of immediate income and long-term value appreciation. Don?t miss out on this well-maintained, high-performing asset in one of the city's most sought-after areas!

Location

State MN

County Hennepin

Zoning Business/Commercial

Interior

Heating Boiler, Hot Water

Inclusions Fixture/Equipment

Fireplace No

Exterior

Garage Driveway - Other Surface

Utilities Available None

Present Use Residential

Parking Type Driveway - Other Surface

Building

Foundation 2664

Sewer City Sewer/Connected

Water City Water/Connected

Structure Type Brick/Stone

Schools

School District Minneapolis

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Listed by Paul Begich • Compass

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Brandon Anderson

+1(612) 490-0638

Agent | License ID: 40180683

Agent License ID: 40180683