Address
1701 Elm Street SE, Minneapolis, MN
Price
$ 6,900,900
Property Attributes
  • ID#6470543
  • TypeCommercial
  • CountyHENNEPIN
  • CityMinneapolis
  • AreaMcmillans Sub Blks Rollins Add
  • NeighborhoodMcmillans Sub Blks Rollins Add
  • Zip55414
  • StyleApartment
  • Year Built1987
  • Taxes$ 111959
  • Price$ 6,900,900
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage28658
  • Lot Size1.26 Acres
Data Source:
Northstar MLS (NSTAR)
Property Description

All units have been taken care of meticulously with many updates and ongoing preventative maintenance. Each unit has hardwood flooring and ceramic tile or porcelain tile flooring, all apartments are located just a few blocks from the University of Minnesota near Dinkytown and the U of MN East Bank Campus and SE Como and Marcy Holmes neighborhoods. Located on Metro transit routes, close to shopping and events. This is an amazing opportunity to own your own block in the heart Minneapolis. Phase I completed without any issues. Additional investment opportunities available.

Price History
12/20/2023 Listed $8,000,000
3/14/2024 14% - $6,900,900

General Features

Sewer City Sewer/Connected
Heating Hot Water
Utilities Electric Separate,Heating Common,Hot Water Common
Construction Materials Brick/Stone
Year Built 1987
Property SubType Apartment
Tax Year 2023
Current Use Residential
Gross Income 763242
Accessibility None
Additional Parcels Description 2402924140128
County Hennepin
Net Operating Income 506235
Operating Expense 257008
Insurance Expense 9013
Property Type Commercial Sale
Contingency Inspection
MaintenanceExpense 58751
Subdivision Name Mcmillans Sub Blks Rollins Add
Directions Kasota Ave/Energy Park Drive (CR32) to SE Elm,left,follow to property on right.
City Minneapolis
Buyer Agent Compensation 2.30
High School District Minneapolis
Zoning Description Residential-Multi-Family
Total Units 44
Street Name Elm
Land Lease Y/N No
Tax Annual Amount 111959
Electric Expense 8699
Fuel Expense 21976
Trash Expense 6764
Water Sewer Expense 19713
Additional Parcels Y/N Yes
Days on Market 146
Standard Status Active
Lender Owned No
Buyer Agent Compensation Type %
PostalCity Minneapolis

Interior Features

Basement (Y/N) No
Street Suffix Street
Fuel Natural Gas

Exterior Features

Parking Features Assigned
Water Source City Water/Connected
Inclusions Building,Rental License
Lot Size Area 1.26
Building Area Total 28658
Lot Dimensions 172x167
Lot Size Units Acres
Foundation Area 6748

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 55414

Price
AVG $2M
$6.9M
Taxes
AVG $49,261
$111,959
Visits
AVG 123
626
Data Provided by Inside Real Estate®
Year Built
AVG 1954
1987

Areas We Cover