$5,250,000
Minneapolis, MN 55426
MLS# 6543961
1 / 15
Property Description
Fantastic 50-unit apartment property, which includes two 11-unit buildings, one 27-unit building and one SFH. The property is set on 1.74 acres and is adjacent to the Cedar Bike Trail. There has been significant development within a half mile of this property including the Texa-Tonka strip center and new apartment construction. There is an assumable loan with interest rate of 3.91% fixed to 2/2027.
Details
Maps
Contract Information
Digitally Altered Photos: No
Status: Active
Current Price: $5,250,000
Contingency: None
ListPrice: 5250000
List Date: 2024-05-29
Owner is an Agent?: Yes
Auction?: No
Office/Member Info
Association: MAAR
General Property Information
Lot Measurement: Acres
Multiple PIDs?: Yes
Other Parking Spaces: 50
Owner Occupied: No
Year Built: 1958
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 18000
For Sale or Lease: For Sale
Acres: 1.74
Lot Dimensions: 75794
Assessment Pending: Unknown
Location, Tax and Other Information
Legal Description: UNPLATTED 07 117 21 THAT PART OF SW 1/4 OF SE 1/4 LYING SELY OF THE PLAT OF WEST LYNN SECOND ADDITION EX R R R&W AND ROAD
Listing City: Saint Louis Park
Map Page: 105
Municipality: Saint Louis Park
School District Phone: 952-928-6000
House Number: 8400
Street Name: Minnetonka
Street Suffix: Boulevard
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55426
Zip Plus 4: 4302
Property ID Number: 0711721430004
Complex/Dev/Subdivision: Trailway Apartments
Tax Year: 2024
Tax Amount: 85624.62
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No
Directions & Remarks
Public Remarks: Fantastic 50-unit apartment property, which includes two 11-unit buildings, one 27-unit building and one SFH. The property is set on 1.74 acres and is adjacent to the Cedar Bike Trail. There has been significant development within a half mile of this property including the Texa-Tonka strip center and new apartment construction. There is an assumable loan with interest rate of 3.91% fixed to 2/2027.
Directions: Utilize Google Maps for Waze and input the property address.
Additional Parcels Information
Property ID #2: 0711721440101
Property ID #3: 0711721440100
Assessments
Tax With Assessments: 85624.62
Basement
Foundation Dimensions: 200X90
Building Information
Building Finished SqFt: 44000
Building SqFt: 54000
Income and Expenses
Annual Gross Income: 697000
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
Homestead: No
Ownership
Fractional Ownership: No
Public Survey Info
Range#: 21
Section#: 07
Township#: 117
Sale Options
Sale Includes: Building, Land, Leases
Unit 1
No. of 1 Bedroom Units: 29
Unit 2
No. of 2 Bedroom Units: 21
Unit Details
Total Units: 50
Property Features
Accessible: None
Air Conditioning: Wall
Amenities Shared: Patio
Appliances: Range; Refrigerator
Assumable Loan: Yes w/ Qualifying
Basement: Crawl Space; Finished (Livable)
CMU Style: Apartments/Multi Family
Construction Status: Previously Owned
Current Use: Residential
Existing Financing: Conventional
Exterior: Brick/Stone; Stucco
Flooring: Luxury Vinyl Plank
Fuel: Natural Gas
Heating: Boiler; Hot Water; Radiator
Internet Options: Fiber Optic
Loan Terms: Cash; Conventional
Lot Description: Irregular Lot
No. of Ranges: One Per Unit
No. of Refrigerators: One Per Unit
On Site Utilities: Electric Separate
Parking Characteristics: Parking Lot
Rental License Type: Standard
Roof: Asphalt Shingles
Sewer: City Sewer/Connected
Stories: Two
Tenant Pays: Electricity; Gas; Sewer; Trash Collection; Water
Water: City Water/Connected
Listing Office: Manarola LLC
Last Updated: May - 29 - 2024
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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
