Rare Opportunity – S MPLS 4 Plex Listing Under $380K Sold

  • $SOLD
  • 8 beds
  • 4 baths
  • 3,188 sqft
Sold

Rare Opportunity – S. MPLS 4-Plex 2+ BR Units  Listing Under $380K

Great Cash Flow Investment Property!
RSVP FOR ACCESS – DETAILS BELOW

$4,340/mo. Gross Rents + Garage Rent & Laundry Revenue 

2913 – 18th Ave S – Minneapolis, MN 55407

3,188 SF / 4 Plex / 2+ BR Units / 2 Car Garage
ARV: $479K+   REHAB Est: $20K-40K

Wholesale Cash Price $362,000 

Nothing like this has SOLD…this low…in over 2 years!

 

 

Comps to Consider

Most of these comps are only 1 BR / 1 BA units

 

Parking Off-Street for 6+ Vehicles & 2 Car Garage

Gross Rents = $4,340 / mo. plus Garage Rent & Laundry Revenue

(Currently $1,040 to $1060 per unit – Month to Month)

Most tenants will stay with even a raise in rent to $1,095/mo. 

 

>> UPDATED PHOTOS HERE <<

 

South Minneapolis

Midtown Neighborhood Details

Neighborhood watch has sealed off the streets & created a

nice safe environment for residents. 

Midtown Neighborhood: Is an up and coming area and is home to the Children’s Minnesota Minneapolis Hospital, the Midtown Global Market, and Saint Mary’s University of Minnesota-Twin Cities Campus. And while there are businesses scattered throughout the neighborhood, most can be found along Lake Street. The Midtown Global Market, located in the old Sears building, offers more than 45 shops and restaurants from more than 22 different cultures.  1/2 Block from the Midtown Greenway Trail
  • WALK SCORE®   89  Very Walkable
  • TRANSIT SCORE®  58   Good Transit

South Minneapolis 4 Plex Details

        • 4 Units with 2 Bedrooms or more – Currently rented month to month
          • Unit #1: Has bonus room…almost 6′ x 12′ that is being used as an extra bedroom = $1,020/month
          • Unit #2: Good size 3 BR with storage room in the basement = $1,080/mo.
          • Unit # 3: 2nd Level – Decent size 2BR unit = $1,040/mo. (They want to leave 8/15/20)
          • Unit #4: Is the nicest and most up to date unit = $1,050/mo. (Might want to go rather than pay more rent)
        • 2003 – Roof, new plumbing & mechanicals
        • 2004 – Furnace & Water heater
        • 2008 – New Windows
        • 2012  – New Electrical & Subpanels updated
        • 2017  – New Water heater & Coin Laundry (Owned)
        • 2020 – Taxes: $6,407
        • 2020 – Estimated Market Value: $380,500

Note: Tenants own their own A/C window units. Landlord pays for Heat, Hot Water, Cooking, Trash & Water, Lawn & Snow, and Maintenance. Approx. cost is  $10,400/yr + Insurance, Taxes & License fees.

Buyer will pay ALL closing costs, taxes after 6/30/20, and Seller is guaranteed to net $362K or more at the closing minus their loan pay off amount.

AGENTS: Add your fee to the offer price and get supplements from the MLS listing

Property is sold “AS-IS”

>> CLICK HERE FOR COMPS << 

RSVP DETAILS

You will be assigned a specific walk thru time slot when you RSVP

CALL, TEXT or EMAIL Marty to RSVP/Gain Access:

612-695-0167
MartyTurner123@gmail.com
Martin Turner is a agent with eXp Realty

 
** AN RSVP EMAIL  IS REQUIRED IN ORDER TO GAIN PROPERTY ACCESS **
(Include the Address in Subject Line/Text Msg) 
  1. Include a pre-approval or proof a of funds letter in your email RSVP request to Marty
  2. Parking instructions & additional financial information will be sent (via email) upon the confirmation of your RSVP
  3. Face coverings/masks must be worn at all times while on and in the property. Thank you!
  4. You will be assigned a specific walk thru time slot when you RSVP

 

NOTE:
Some of our properties are occupied. Please do not disturb occupants. For access and more information or questions about the property contact our agent. $5,000 Non-Refundable Earnest Money Required to Secure Property with all offers.

 

REALTORS:

If you are currently working with a client, and wish to receive commission, please note that the wholesale price does not include your commission.

You may want to negotiate a commission with your client separate from the wholesale price or you may adjust the wholesale price upwards to include your commission.

There is a listing agreement in place.

 

DISCLAIMERS:

* PropertyInvestmentMN.com is a website brand owned and controlled by Property Investment Enterprises, LLC., and all properties listed herein are owned or under contract by Property Investment Enterprises, LLC or listed with one of our licensed partner agents. Property Investment Enterprises, LLC is in the business of acquiring properties and selling wholesale to investors.

 

** A contract or listing of the property is being marketed, and may not currently be owned by Property Investment Enterprises, LLC. Property Investment Enterprises, LLC is not a real estate brokerage and does not represent buyers or sellers, nor does it receive commissions of any kind. Property Investment Enterprises, LLC is represented by eXp Realty and licensee Martin Turner to facilitate all its’ transactions and state forms are used in all sales. Property will not be considered under contract until signed contract and deposit is received by the title company with all contingencies removed. Sales Price is net to Property Investment Enterprises, LLC.

 

*** Property Investment Enterprises, LLC (PIE) has exclusively relied upon the information listed within the County Assessors and Property Tax office to determine all measurements including lot size, square footage, number of bathrooms, number of bedrooms, number of rooms, zoning, permitted and prohibited uses, construction materials, parking, year of construction, and all other pertinent data relating to the physical improvements and land area of the subject property. Investor acknowledges and accepts that PIE makes no representations and warranties of any kind, whatsoever, as to the actual conditions that may exist within or around the property.  Investor acknowledges that it has conducted its own investigation of these facts and due diligence. Investor will verify all material facts including square footage and is purchasing the subject property based upon its own conclusions. Investor expressly acknowledges that it is purchasing the property in “as is, where is” condition. All properties are subject to errors, omissions, deletions, additions, cancellation.

Price:
$SOLD
Address:
2913 18th Ave S
Minneapolis, MN 55407
Square Feet:
3,188
Bedrooms:
8
Bathrooms:
4
Terms:
For Sale
Property Type:
Multi-family
Year Built:
1891
Const. Type:
Multi Family - 2 Story

Call 651 401 8029 for more details

Property Location