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$410,900
Est. payment /mo
3 Beds
3 Baths
6,534 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision Silver Lake Add
MLS Listing ID 7143580
Bedrooms 3
Year Built 1907
Annual Tax Amount $7,385
Tax Year 2026
Contingent None
Lot Size 6,534 Sqft
Lot Dimensions 157 x 52
Property Description
Cash flow from day one with a strong positive-leverage spread. 3116 Emerson Ave N is a fully occupied, six-unit mixed-use investment property offering an attractive entry point for the small investor focused on real cash flow—not just future appreciation. Priced at $410,900, the property generates approximately $79,812 in annual scheduled income and $40,083 in-place NOI, producing a 9.75% cap rate. Using the 6.25% financing assumption in the offering memorandum, that represents roughly a 350-basis-point spread between the going-in cap rate and interest rate, creating meaningful positive leverage that is increasingly difficult to find in smaller investment properties.
The asset includes four residential apartments and two commercial spaces, providing six separate income streams and diversification beyond a traditional small multifamily property. All six units are currently occupied, while existing rents still provide modest upside: projected market income increases to approximately $84,000 annually, supporting an estimated $45,711 NOI and 11.12% market cap rate. Located on the highly visible corner of Lowry Ave N and Emerson Ave N, the property also benefits from 10 off-street parking stalls serving both residential and commercial tenants. For an investor looking to graduate from duplexes and fourplexes into a larger cash-flowing asset without making the jump to a multi-million-dollar apartment building, this property offers an unusual combination of affordable basis, immediate income, positive leverage, diversified tenancy, and additional rent upside.
Buyer Agents to verify all measurements
Seller open to seller financing option with QUALIFIED BUYER ONLY!!!
Minimum 48 Hr Notices For All Showings!
Showings ONLY being approved with Proof of Funds and/or verified approval letter from bank!
The asset includes four residential apartments and two commercial spaces, providing six separate income streams and diversification beyond a traditional small multifamily property. All six units are currently occupied, while existing rents still provide modest upside: projected market income increases to approximately $84,000 annually, supporting an estimated $45,711 NOI and 11.12% market cap rate. Located on the highly visible corner of Lowry Ave N and Emerson Ave N, the property also benefits from 10 off-street parking stalls serving both residential and commercial tenants. For an investor looking to graduate from duplexes and fourplexes into a larger cash-flowing asset without making the jump to a multi-million-dollar apartment building, this property offers an unusual combination of affordable basis, immediate income, positive leverage, diversified tenancy, and additional rent upside.
Buyer Agents to verify all measurements
Seller open to seller financing option with QUALIFIED BUYER ONLY!!!
Minimum 48 Hr Notices For All Showings!
Showings ONLY being approved with Proof of Funds and/or verified approval letter from bank!
Location
State MN
County Hennepin
Zoning Business/Commercial,Residential-Multi-Family,Other
Interior
Heating Boiler
Cooling Window Unit(s)
Inclusions Building, Leases, Rental License
Fireplace No
Exterior
Parking Features Parking Lot
Utilities Available Electric Separate
Present Use Beauty/Barber Shop,Church,Residential
Building
Story Two
Foundation 6534
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
New Construction false
Schools
School District Minneapolis
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Listed by William Schultz • Keller Williams Premier Realty
NEARBY SCHOOL & BUSINESS
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