Property Description
Renovated five-unit apartment building featuring all two-bedroom, one-bath units. Taken down to the studs in 2023 with $386,042 in documented improvements, including a new 30-year roof, PEX plumbing, new gas lines to each unit, six-zone boiler, updated electrical, new windows, granite countertops, new cabinetry, stainless steel appliances, and LVP flooring. Security features include hardwired smoke and CO detectors, digital keypad entry, an alarmed steel rear door, and security cameras. Gas and electric are separately metered and tenant-paid; water, sewer, and trash are recovered through RUBS. Four garage stalls and on-site laundry. Minneapolis Tier 1 rental license. **Investors:** Projected pro forma NOI of $55,600, reflecting an 8.0% cap rate. **Owner-users:** Former group home use, well-suited for a housing program operator. Metro Transit Route 5 at the corner and METRO D Line two blocks south. Full offering memorandum available.
Property Features
Property Type: Commercial - Business
Fuel Type: Natural Gas
Garage: 4
Heating: Boiler
Lot Size: 0.14 Acres
Taxes: $7,426
Year Built: 1926
Feature Descriptions
Appliances: Range, Refrigerator, Stainless Steel Appliances
Current Use: Residential
Days on Site: 3
Foundation Size: 1591
Lot Dimensions: 43x140
Parcel#: 1602924130002
Parking: Detached Garage
Sale Includes: Building
Sewer: City Sewer/Connected
Units: 5
Utilities: Electric Separate, Heating Separate
Water: City Water/Connected
Local Schools
School District: Minneapolis
Listed By / Shown By
Listed By
Agency Name: Pemberton RE
Agency Phone: 612-260-8777
Shown By
Agent Name: Derrick Guevremont
Agent Phone: (507) 272-8018
Agency Title: Counselor Realty
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2204 Emerson Avenue N | MLS# 7161032
This commercial property located at 2204 Emerson Avenue N, Minneapolis, MN 55411 is currently listed for sale with an asking price of $695,000. Emerson Avenue N is located within the Minneapolis school district. Search Minneapolis real estate on derrick.counselorrealtyofrochester.com today.