647 Snelling Avenue N

This 1930's classic brick building offers add-value opportunity and consists of 17 studios and two one-bedroom apartments. With a modest footprint, this building is ideal for investors interested in small, easy-to-rent, maintain, or renovate apartment units. It is located on a quiet block, but conveniently located near several amenities and the Green Line Train is steps away. The City's master plan is for significant redevelopment and investment focus on the surrounding area of Midway/Hamline. The property has added appeal being in a defined Opportunity Zone (the Opportunity Zones program provides tax relief for investors who re-invest their unrealized capital gains into specific low-income communities.) Additionally, the building is approved for the 4D Tax-reduction program and will benefit from a significant tax reduction this next calendar year (see city website for more information. See attachments for financial information.