3407 Lyndale Avenue S Minneapolis, MN $ 1,050,000
3407 Lyndale Avenue S
$ 1,050,000
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3407 Lyndale Avenue S

Minneapolis, MN, 55408
$ 1,050,000
Baths0.0 Sq 5,562

Monthly Estimate*

$ 7,335

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Studio

Commercial Property for sale in Minneapolis, MN

for $1,050,000. This 5,562 square foot building was built in 1925 on a lot size of 0.13.

Beautiful, extensively remodeled apartment building with 5 units, 2 car garage, and parking spots. Kitchens remodeled with new cabinets, new appliances, new countertops, and laundry. Floors refinished throughout, walls painted, new plumbing and electrical. Washer and dryer in some units, laundry roughed in for another unit, and shared laundry in the basement for tenants as well. Some new windows, some new doors, and some new tile in bathrooms. Owner was planning to hold on to this property indefinitely, therefore, he upgraded plumbing, electrical, and other items not seen being the walls to ensure it's a wonderful rental property into the future. Seller only selling due to a recent new business opportunity. 4 units have 2 bedrooms and 1 bathroom. 1 unit, unit 5 in the basement, has 3 bedrooms and 2 bathrooms. 4 units with month-to-month leases with 60 days notice necessary. Unit 2 is recently vacated with easy showing. Storage lockers in the basement for tenants to use.

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Commercial Active

Price

$ 1,050,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 11,577

Style

Lot Size

0.13

Year Built

1925

Town/City

Minneapolis

County/Region

Hennepin

MLS | Web ID

6439428

Features
General
Sewer City Sewer/Connected
Heating Boiler Radiator(s)
Cooling Window Unit(s)
Utilities Electric Separate Heating Common Hot Water Common
Roof Flat Rubber
Appliances Dishwasher Dryer Microwave Range Refrigerator Washer
Garage Spaces 2
Construction Materials Stucco
Year Built 1925
Tenant Pays Cable TV Electricity
Topography Level
Levels Two
Tax Year 2023
Current Use Residential
Gross Income 96540
Accessibility None
County Hennepin
Net Operating Income 96540
Property Type Commercial Sale
Association Amenities Coin-op Laundry Owned
Contingency None
Subdivision Name Bakers Add
Directions Lyndale Ave S to 3407
City Minneapolis
Buyer Agent Compensation 2.70
High School District Minneapolis
Zoning Description Business/Commercial Residential-Multi-Family
Total Units 5
Street Name Lyndale
Land Lease Y/N N
Tax Annual Amount 11577
Additional Parcels Y/N N
Days on Market 95
Standard Status Active
Lender Owned No
Amenities Unit Ceiling Fan(s) Hardwood Floors Kitchen Window Main Floor Primary Bedroom Natural Woodwork Tile Floors Washer/Dryer Hookup
Buyer Agent Compensation Type %
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Interior
Basement Egress Window(s) Finished Full Storage/Locker Storage Space
Basement (Y/N) Y
Street Suffix Avenue
Fuel Natural Gas
Garage Square Feet 500
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Exterior
Parking Features Detached Asphalt Parking Lot Paved Unassigned
Lot Features Public Transit (w/in 6 blks) Tree Coverage - Light
Water Source City Water/Connected
Inclusions Building Land Leases Rental License
Lot Size Area 0.13
Building Area Total 5562
Lot Dimensions 45x121
Lot Size Units Acres
Foundation Area 2181
Road Frontage Type Curbs Paved Streets Sidewalks Storm Sewer Township
Road Responsibility Public Maintained Road
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Internal Only
Street Number 1 3407
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* Excluded Features
List By
Re/Max Results

Broker

Ryan@ProTeamMN.com

Email

Affordability Calculator

$8,299
Per Month
88%
12%
0%
Monthly Principal & Interest
$7,335
Monthly Property Taxes
$965
Monthly 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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The time to sell is now
THE TIME TO SELL IS NOW!
Nearby
708364 Elementary School
708967 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
12/15/2023$1,050,000 Listed Price

Map


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3407 Lyndale Avenue S, Minneapolis, MN, 55408 is a Commercial Property for sale at $1,050,000 with 5,562 sqft and a lot size of 0.13. 3407 Lyndale Avenue S is a studio with 0.0 baths and was built in 1925. The property's zip code is 55408 which is in Minneapolis, MN