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3318 E Lake Street Minneapolis, MN $ 469,000
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3318 E Lake Street
$ 469,000
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3318 E Lake Street

Minneapolis, MN, 55406
$ 469,000
Baths0.0 Sq 4,066

Monthly Estimate*

$ 3,117

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Studio

Commercial Property for sale in Minneapolis, MN

for $469,000. This 4,066 square foot building was built in 1926 on a lot size of 0.18.

You do not want to miss this great investment and cash flowing opportunity! Nicely located in the Longfellow neighborhood of Minneapolis and close to several local amenities, Easy access to major roadways and public transportation. This beauty consists of four commercial spaces and one 2 bed/1 bath unit, Many of the units have been rented with long term tenants, 11 Parking spots and on-street parking too! 1 Loading Docks for each lower space. Buyer is aware and acknowledges that Seller intends to perform an IRC Section 1031 tax deferred exchange. Seller requests Buyer’s cooperation in such an exchange and agrees to hold Buyer harmless from any and all claims, costs, liabilities, or delays in time resulting from such an exchange. Buyer agrees to an assignment of this contract by the Seller.

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Commercial Active

Price

$ 469,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 12,182

Style

Apartment,Mixed Use,Low Rise,Office

Lot Size

0.18

Year Built

1926

Town/City

Minneapolis

County/Region

Hennepin

MLS | Web ID

6561135
Features
General
Sewer City Sewer/Connected
Heating Boiler
Cooling None
Utilities Electric Common Heating Common Hot Water Common
Roof Age Over 8 Years Rubber
Appliances Gas Water Heater Range Refrigerator
Garage Spaces 0
Construction Materials Block Stucco
Year Built 1926
Tenant Pays Cable TV Electricity
Levels Two
Property SubType Apartment Mixed Use Low Rise Office
Tax Year 2023
Current Use Commercial Manufacturing Office Other Professional Service Residential Warehouse
Gross Income 55140
Accessibility None
County Hennepin
Operating Expense 0
Property Type Commercial Sale
Association Amenities Other
Contingency None
Subdivision Name South Minneapolis Add
Directions Heading northeast on MN-55 / Hiawatha Ave toward E 33rd St Take the ramp on the right for E Lake St/ County -3 and head toward E Lake St Turn right onto E Lake St/ County Hwy-3 Arrive at 3318 E Lake
City Minneapolis
Buyer Agent Compensation 2.00
High School District Minneapolis
Zoning Description Business/Commercial
NumberOfUnitsTotal 5
Lot Size Units Acres
Land Lease Y/N N
Tax Annual Amount 12182
Additional Parcels Y/N N
Standard Status Active
Lender Owned No
Buyer Agent Compensation Type %
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Interior
Basement Block Concrete
Basement (Y/N) Y
Fuel Electric Natural Gas
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Exterior
Parking Features Asphalt Guest Parking On-Street Parking Only Other Paved
Lot Features Public Transit (w/in 6 blks)
Water Source City Water/Connected
Inclusions Building Fixture/Equipment
Lot Size Area 0.18
Building Area Total 4066
Lot Dimensions 92.32x86
Foundation Area 2320
Road Frontage Type City Street Curbs Paved Streets Sidewalks Street Lights Storm Sewer
Road Responsibility Public Maintained Road
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Internal Only
Street Number 1 3318
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* Excluded Features
List By
Edina Realty, Inc.

Broker

JoshMandel@edinarealty.com

Email

Affordability Calculator

$4,132
Per Month
75%
25%
0%
Monthly Principal & Interest
$3,117
Monthly Property Taxes
$1,015
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.99% 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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The time to sell is now
THE TIME TO SELL IS NOW!
Nearby
708364 Elementary School
708967 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
6/28/2024$469,000 Listed Price

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3318 E Lake Street, Minneapolis, MN, 55406 is a Commercial Property for sale at $469,000 with 4,066 sqft and a lot size of 0.18. 3318 E Lake Street is a studio with 0.0 baths and was built in 1926. The property's zip code is 55406 which is in Minneapolis, MN

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