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Minneapolis, Hennepin County, MN Commercial Property, Homesites for sale Property ID: 416670645

Detailed Information

  • Type: Company

  • Price: $4,090,000

  • Location: Minneapolis, Minnesota

  • Address: 137 E 17th Street, Minneapolis, MN, 55403

  • Zip: 55403

  • Property size: 9580 square feet

  • Condition: Used

  • For sale by: Broker

  • Agent: Paul Begich

Welcome to St.

George Apartments! This 35-unit apartment consists of 31 x studios, and 4 x one-bedroom units. The property is a turn-key asset that has seen extensive remodeling over the last decade functioning like a new-build, with low overhead. The property has debt that has the potential to be assumed, with three years remaining on the term,

at a rate significantly lower than current quotes. Uniquely, all of the units are heated through electric baseboard heat, paid for by the individual residents. This has an immediate positive impact on the NOI, as there’s no boiler, or associated Center Point Energy gas/heat bill.

This is a great opportunity to add a classic, turnkey brownstone to your portfolio! Copyright © 2023 Regional Multiple Listing Service of Minnesota [North Star MLS]. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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