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3017 19th AVE S Minneapolis, MN 55407
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Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 5,526 sqft
Price per Sqft $108
Subdivision Minnehaha Add
MLS Listing ID 6253072
Sold Date 05/05/23
Year Built 1959
Annual Tax Amount $6,663
Tax Year 2023
Contingent None
Lot Size 5,662 Sqft
Acres 0.13
Lot Dimensions 45x125
Property Description
Located adjacent to South High School, this late 50's construction (known for being well-built) 4 Plex has been very well maintained and professionally managed by an experienced owner to position the property for an easy takeover.
Tenants are charged back for water-sewer-trash, units are separately metered for electricity, and the owner pays for gas/heat. Mechanicals, roof, and windows are in good shape leaving no immediate projects for a buyer.
There's meat on the bone for an investor to bring the remaining two units to market rent (+$300/M), charge appropriately for a storage closet and large storage room in the basement (+$200/M), charge for parking (+$125/M). This brings potential income close to $70,000/ year!
The owner is looking to complete a 1031 exchange, and if not for that opportunity, they would likely keep it as it runs so smoothly. Units have quickly rented when turned over.
Location
State MN
County Hennepin
Rooms
Basement Shared Access, Storage/Locker, Storage Space, Unfinished
Interior
Heating Boiler
Fireplace No
Exterior
Parking Features Paved
Fence Chain Link
Roof Type Pitched
Building
Lot Description Corner Lot
Story Two
Foundation 1842
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
Structure Type Brick/Stone,Stucco
New Construction false
Schools
School District Minneapolis
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