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Daniel Linder

daniel.linder@exprealty.com +1(612) 597-5456

$699,900

Est. payment - /mo

0.37 Acres Lot

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Key Details

Property Type Commercial

Listing Status Contingent

Purchase Type For Sale

Subdivision The Neighborhood Blk

MLS Listing ID 7085297

Year Built 1913

Annual Tax Amount $16,039

Tax Year 2026

Contingent Inspection

Lot Size 0.370 Acres

Lot Dimensions 100x160

Property Description

Beautiful Grand Victorian boarding house with active rental license. 18 single rooms which include an owner's suite with 2 bedrooms. Currently there are only 5 units rented at $500 per month. Market rate should be closer to $600 per room on average. 17 rooms are allowed to be rented although the current license has approval for 16. There is an opportunity to generate $10,200 per month at market rent. There is a steady demand for units and the property is being underutilized. Owners' suite is spacious and has a full kitchen and private bathroom. Possible for an ADU in the basement and above the garage. Many bathrooms have been capped. There is currently one bathroom per floor that is operational. There are a total of 13 bathrooms. Large parking lot can accommodate up to 15 cars. There is a spacious 3 car garage on site and additional carriage house. New roof installed in 2021. Exterior painted in 2021. The property is priced well below assessed value of $937,000 setting you up for a large reduction in property taxes! This a perfect opportunity for a live in handyman to repair and remodel the property and have the mortgage covered. Lots of unique opportunities for investors or other organizations to cash flow this iconic property!

Location

State MN

County Hennepin

Zoning Residential-Multi-Family

Rooms

Family Room Community Room

Interior

Heating Boiler

Cooling None

Flooring Carpet, Wood

Inclusions Building, Business, Fixture/Equipment, Leases, Rental License

Fireplace No

Appliance Dishwasher, Gas Water Heater, Range, Refrigerator, Wall Oven

Exterior

Parking Features Detached Garage

Garage Spaces 2.0

Utilities Available Electric Common

Roof Type Age 8 Years or Less

Present Use Residential

Building

Story Three Or More

Foundation 1444

Sewer City Sewer - In Street

Water City Water - In Street

Level or Stories Three Or More

Structure Type Brick

New Construction false

Schools

School District Minneapolis

Others

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Listed by Ryan Quade • Coldwell Banker Realty - Southwest Regional

NEARBY SCHOOL & BUSINESS

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Daniel Linder

+1(612) 597-5456

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2110 1st AVE S Minneapolis, MN 55404

Daniel Linder

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION