409 7th Street SE Minneapolis, MN ^$ 431,900

409 7th Street SE

^$ 431,900

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409 7th Street SE

Minneapolis, MN, 55414

^$ 431,900

Studio Baths0.0 Sq 3,548

Monthly Estimate*

^$ 3,017

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Studio

Commercial Property for sale in Minneapolis, MN

for $431,900. This 3,548 square foot building was built in 1900 on a lot size of 0.21.

Large Lot with 5-unit apartment property located in the Marcy Holmes neighborhood near the University of MN. Total of 8 rental rooms, one 3-Bed, one 2-Bed, one 1-Bed and 2 Studio units. Units are in good condition and the roof was replaced in 2023. Large lot provides highly desired off-street parking and an opportunity for future redevelopment. Located near the U of MN, this property has been a solid rental for many years. Easy access to downtown Minneapolis via Hennepin and Central Avenues and HWY 35w. Listed below assessed value. Gross Potential Income: $56,000.

Commercial Active

Price

^$ 431,900

Bedrooms

Studio

Property Type

Commercial

Taxes

^$ 7,585

Style

Apartment

Lot Size

0.21

Year Built

1900

Town/City

Minneapolis

County/Region

Hennepin

MLS | Web ID

6508584

Features

General

Sewer City Sewer - In Street

Heating Forced Air

Utilities Electric Common Heating Common

Garage Spaces 0

Construction Materials Fiber Cement

Year Built 1900

Tenant Pays Cable TV

Property SubType Apartment

Tax Year 2023

Current Use Residential

Gross Income 55830

Accessibility None

County Hennepin

Net Operating Income 26252

Operating Expense 25222

Insurance Expense 4163

Property Type Commercial Sale

Contingency None

Subdivision Name Auditors Sub 028

Directions Follow I-35W N to Minneapolis. Take exit 18 from I-35W N. Follow SE 4th St and 5th Ave SE to 7th St SE.

City Minneapolis

Buyer Agent Compensation 2.30

High School District Minneapolis

Zoning Description Residential-Multi-Family

Total Units 5

Street Name 7th

Land Lease Y/N N

Tax Annual Amount 7585

Electric Expense 272

Fuel Expense 2679

Trash Expense 2486

Water Sewer Expense 2096

Additional Parcels Y/N N

Days on Market 24

Standard Status Active

Lender Owned No

Buyer Agent Compensation Type %

Exterior

Parking Features Gravel

Water Source City Water/Connected

Inclusions Rental License

Lot Size Area 0.21

Building Area Total 3548

Lot Dimensions 54.00 X 166.00

Lot Size Units Acres

Foundation Area 1572

Interior

Basement (Y/N) N

Street Suffix Street

Fuel Natural Gas

Garage Dimensions 0

Garage Door Width 0

Garage Square Feet 0

Internal Only

Street Number 1 409

* Excluded Features

List By

Metro Group Real Estate

Broker

lj8411@gmail.com

Affordability Calculator

$3,649

Per Month

Monthly Principal & Interest: $3,017
Monthly Property Taxes: $632
Monthly Home Insurance: --

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Yearly Home Insurance

Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Commerical listings in Minneapolis, MN

Average List Price ^$1,081,128

Percent of Sale Price 150%

About Minneapolis, MN

417,625 Population

9% Since 2002

^$56,777 Median Income

35.08 Median Age

21% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

708364 Elementary School

708967 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
3/25/2024	$431,900		Listed Price

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409 7th Street SE, Minneapolis, MN, 55414 is a Commercial Property for sale at $431,900 with 3,548 sqft and a lot size of 0.21. 409 7th Street SE is a studio with 0.0 baths and was built in 1900. The property's zip code is 55414 which is in Minneapolis, MN

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Broker Reciprocity Program of the Regional Multiple Listing Service of Minnesota, Inc.

The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data is updated as of 4/27/2024.

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409 7th Street SE

Commercial Property for sale in Minneapolis, MN

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