2818 E 31st ST Active Save Request In-Person Tour Request Virtual Tour
Minneapolis,MN 55406
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
Prime 6 unit building in the growing Longfellow neighborhood! All the heavy lifting done with recent updates and 100% occupancy! Combination of long term tenants and recent move-ins, with a total gross scheduled rent of $7,245 per month with room to grow! Step into cashflow day one, with great upside with lease renewals next year.
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 current rents and actual expenses have the building at a 8.35 cap, with aggressive rents pushing it higher. Schedule your showing today, and scoop this cash flowing asset up before it's 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