3322 Chicago Avenue

Minneapolis, MN 55407 View Map $975,000 Schedule a Tour
On Site25 days
Year1910

Kris Lindahl Real Estate

(763) 347-2956

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Status: Active
Property Type:Commercial Sale
MLS #:6487362
On Site:25 Days
County:Hennepin
Truly turnkey 1% rule 5 unit. 4/5 units rented at $1895/mo. Just appraised for 1.53m! Incredible opportunity - 1.2 million $ renovation funded by insurance company (storm damage) includes BRAND NEW roof, ALL windows, plumbing, electrical, flooring, bathrooms, kitchens, appliances, and MORE. Each unit has been meticulously gutted and rebuilt from the ground up - all permits pulled and no shortcuts taken. Spacious 3 bedroom units w/ private laundry in each. Upper 4 units are nearly identical, garden level unit is bigger with exposed beams and impressive floorplan. This is as close to new construction as you'll find - on a quiet block of Chicago. Easy to show!

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$000 Monthly Payment
Loan and interest only.

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Community Information

Address:3322 Chicago Avenue, Minneapolis, MN 55407
County:Hennepin
School District:Minneapolis
Zip Code:55407
Neighborhood:Central

Features / Amenities

Appliances: Dishwasher, Dryer, Exhaust Fan, Freezer, Microwave, Range, Refrigerator, Stainless Steel Appliances, Washer
Amenities: Natural Woodwork
Garage Dimensions: 0(0 sq.ft.)
Garage Door: 0 ft. wide X 0 ft. tall
Cooling: Window Unit(s)
Heating: Baseboard, Boiler, Hot Water, Radiator(s), Radiant
Fuel: Natural Gas

Property Features

Lot Dimensions:51x122
Lot Features: Public Transit (w/in 6 blks)
Utilities: Electric Separate, Heating Common, Hot Water Common
Sewer: City Sewer/Connected
Water: City Water/Connected
Road Frontage: City Street
Zoning:Residential-Multi-Family
Directions:Lake to Chicago, South to building.

Tax and Financial Info

Sale Includes: Building, Fixture/Equipment, Land
Tax Year: 2022
Tax Annual Amount: $9,552
Water / Sewer Expense: $3,000
Maintenance Expense: $3,000
Fuel Expense: $2,640
Electric Expense: $660
Insurance Expense: $5,400
Trash Expense: $3,000
Gross Income: $117,000
Net Income: $85,608
Association Amenities: Patio, Security

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3322 Chicago Avenue Minneapolis,  MN 55407
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3322 Chicago Avenue Minneapolis, MN 55407
 
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Listing Information Last Updated 3/4/2024
Listing provided courtesy of Brix Real Estate.
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