MN > Minneapolis > Libbys Add
Minneapolis, MN 55406,2818 E 31st ST
Minneapolis, MN 55406,2818 E 31st ST
Minneapolis, MN 55406,2818 E 31st ST
Minneapolis, MN 55406,2818 E 31st ST
Minneapolis, MN 55406,2818 E 31st ST
Minneapolis, MN 55406,2818 E 31st ST
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Mark Johnson

Mark Johnson

+1(612) 597-8073
$ 699,000
Est. payment | /mo

4,356 Sqft Lot

Save
$ 699,000
Est. payment | /mo
Save

4,356 Sqft Lot

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Libbys Add

MLS Listing ID 6770334

Year Built 1960

Annual Tax Amount $11,052

Tax Year 2025

Contingent None

Lot Size 4,356 Sqft

Acres 0.1

Lot Dimensions 60X70

Property Sub-Type Apartment

Property Description

Amazing value add opportunity awaits! Prime 6 unit building in the growing Longfellow neighborhood! All the heavy lifting done with recent updates and unit turns, leaving just the leasing left to do! Two long term tenants remain in the building giving you a stable base of reliable income to start. Four units freshly turned and renovated giving the new owner the opportunity to place new tenants at market rate. Too many updates to list, see the supplements for a full list of improvements. New high efficiency boiler/hot water heater combi unit along with many new energy efficient appliances account for the extremely low operating cost as seen in the financials. Run your own numbers, but conservative estimates on rent with actual expenses have the building at a 7.6 cap, with aggressive rents hitting over a 9 cap. Schedule your showing today, and scoop up this cash flowing asset before its gone!

Location

State MN

County Hennepin

Zoning Residential-Multi-Family

Interior

Heating Baseboard, Boiler

Cooling Wall Unit(s)

Inclusions Building

Fireplace No

Appliance Range, Refrigerator

Exterior

Parking Features Parking Lot

Utilities Available Electric Separate, Heating Common, Hot Water Common

Roof Type Asphalt

Present Use Residential

Building

Foundation 1960

Sewer City Sewer/Connected

Water City Water/Connected

Structure Type Brick/Stone,Stucco

Schools

School District Minneapolis

Listed by Michael Moe • Superior Property Management
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"Thanks for reaching out to The Johnson Group!  We're here to guide you and provide all the real estate info you need along the way.  Your dream home might be just a click away, and we're delighted to be a part of your real estate adventure! "

+1(612) 597-8073

mrjohnson@cbburnet.com

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