27
See all 27 photos
$1,200,000
Est. payment /mo
5,227 Sqft Lot
Active
2700 Garfield AVE Minneapolis, MN 55408
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UPDATED:
10/30/2024 02:05 AM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Hedderly & Mcgreggors Add
MLS Listing ID 6624560
Year Built 1959
Annual Tax Amount $16,315
Tax Year 2024
Contingent None
Lot Size 5,227 Sqft
Acres 0.12
Lot Dimensions 118'x42'
Property Description
MOTIVATED SELLER - Encouraging Offers! Located in the heart of the Whittier neighborhood, this beautifully renovated 8-unit apartment presents an exceptional investment opportunity - featuring a unit mix of seven x one-bedroom units and one x studio, along with five parking stalls. With a mix of long-term tenants and fully furnished mid-term and short-term units, this property is already generating strong income, grossing north of $11,000 per month, representing an in-place cap rate of 7.81%! The property has undergone an extensive renovation, addressing everything from the exterior façade and landscaping to the common areas and in-unit upgrades. Each unit is tastefully updated, ensuring a modern living experience for all residents. Whether you're looking to expand your portfolio or seeking a solid investment in a vibrant Minneapolis neighborhood, 2700 Garfield Avenue South offers a rare blend of immediate income and long-term value appreciation. Don’t miss out on this well-maintained, high-performing asset in one of the city's most sought-after areas!
Location
State MN
County Hennepin
Zoning Business/Commercial
Interior
Heating Boiler, Hot Water
Inclusions Fixture/Equipment
Fireplace No
Exterior
Parking Features Driveway - Other Surface
Utilities Available None
Present Use Residential
Building
Foundation 2664
Sewer City Sewer/Connected
Water City Water/Connected
Structure Type Brick/Stone
Schools
School District Minneapolis
Listed by Paul Begich • Compass