For Sale: Minneapolis MLS# 6750260
Active
NEW!
$1,060,000
Commercial: Apartments
Built 1964
0.28 acres
Minneapolis schools
MLS# 6750260
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Property Description
5740 SANDER DRIVE WAS WELL BUILT IN 1964 ON A LARGE 0.28 ACRE LOT IN SOUTH MINNEAPOLIS, MN. THE ALL BRICK EXTERIOR DESIGN FEATURES TEN ONE-BEDROOM APARTMENTS AND ONE TWO-BEDROOM. ALL OF THE UNITS HAVE A FULL BATHROOM, LARGE LIVING ROOM, GOOD SIZE EAT-IN-KITCHEN, AND LOTS OF CLOSET SPACE. THE LIVING ROOMS HAVE OVERSIZE PICTURE WINDOWS THAT ALLOW A TON OF NATURAL LIGHT INTO THE SPACE. ALL THE WINDOWS HAVE BEEN REPLACED RECENTLY. THE RESIDENTS ENJOY ONSITE LAUNDRY, OFF-STREET PARKING, AND BEING CLOSE TO TRANSPORTATION, THE MALL OF AMERICA, THE MPLS. AIRPORT, AND PLENTY OF EMPLOYMENT AND JOBS. THE CURRENT RENTS ARE BELOW MARKET AND OFFER A NEW OWNER THE OPPORTUNITY TO INCREASE CASH FLOW ON LEASE RENEWALS BY RAISING RENTS. AMAZING OPPORTUNITY! CALL FOR MORE DETAILS!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,060,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1964
State:
MN
Property Style:
Apartments
Zip Code:
55417
Neighborhood/Area:
Wenonah
Subdivision Name:
Sanders 2nd Add
Interior
Ceiling Height:
8-10
Ranges:
One Per Unit
Refrigerators:
One Per Unit
Appliances Included:
- Range
- Refrigerator
Basement Details:
- Egress Window(s)
- Finished
- Full
Exterior
Stories:
Three Or More
Garage Spaces:
0
Other Parking Spaces:
11
Air Conditioning:
Wall Unit(s)
Foundation Size:
3,200 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Boiler
Parking Features:
Parking Lot
Road Frontage:
City Street
Exterior Material:
Brick/Stone
Roof Details:
- Age Over 8 Years
- Flat
- Rubber
Lot & Land
Acres:
0.28
Geolocation:
44.899062, -93.225687
Inclusions:
Building, Land, Leases, Rental License
Lot Dimensions:
60 x 120
Zoning:
Residential-Multi-Family
Lot Description:
Some Trees
Farm
Topography:
Level
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$1,490
Annual Fuel Expense:
$5,625
Annual Insurance Expense:
$8,520
Annual Maintenance Expense:
$4,400
Annual Gross Expense:
$49,414
Annual Trash Expense:
$2,781
Annual Water/Sewer Expense:
$4,777
Tenant Expenses:
Cable TV, Electricity
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$19,322
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$19,322
Income
Annual Gross Income:
$141,000
Rent
Annual Net Income:
$85,735
Units
Total Units:
11
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
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Listing provided by RMLS,
courtesy of Apartment Cash Flow, Inc..
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.