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25 photos
Additional details
$2,100,000
Est. payment /mo
0.27 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision G N Merriams Add
MLS Listing ID 7056836
Year Built 1959
Annual Tax Amount $6,780
Tax Year 2026
Contingent None
Lot Size 0.270 Acres
Lot Dimensions 75 X 159.75
Property Description
Well maintained 22- unit multifamily property with several recent improvements, including updated units, refreshed common hallways, and a new roof. The property has been accepted into the 4d Affordable Housing Incentive Program, resulting in a 78.8% reduction in property taxes beginning in 2026, significantly improving long-term cash flow. Strong rental demand driven by its prime location just minutes from Downtown Minneapolis, major transit corridors, hospitals, employment centers, and neighborhood amenities. Excellent opportunity for investors seeking a stabilized asset with substantial operating savings and continued value-add potential.
Location
State MN
County Hennepin
Zoning Residential-Multi-Family
Interior
Heating Boiler
Cooling Wall Unit(s)
Inclusions Building, Land, Leases
Fireplace No
Exterior
Parking Features Parking Lot
Utilities Available Electric Separate
Present Use Residential
Building
Story Three Or More
Foundation 5100
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Three Or More
New Construction false
Schools
School District Minneapolis
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Listed by Victoria Yepez • National Realty Guild
Nearby School & Business
Marketing Trends
Phillips, Minneapolis, MN
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Data provided by Home Junction
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