2818 E 31st Street Minneapolis, MN ^$ 685,000

2818 E 31st Street

^$ 685,000

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2818 E 31st Street

Minneapolis, MN, 55406

^$ 685,000

Studio Baths0.0 Sq 5,324

Monthly Estimate*

^$ 4,785

2818 E 31st Street, Minneapolis, MN 55406 - Image 1

2818 E 31st Street, Minneapolis, MN 55406 - Image 2

2818 E 31st Street, Minneapolis, MN 55406 - Image 3

2818 E 31st Street, Minneapolis, MN 55406 - Image 4

2818 E 31st Street, Minneapolis, MN 55406 - Image 5

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2818 E 31st Street, Minneapolis, MN 55406 - Image 7

2818 E 31st Street, Minneapolis, MN 55406 - Image 8

2818 E 31st Street, Minneapolis, MN 55406 - Image 9

2818 E 31st Street, Minneapolis, MN 55406 - Image 10

2818 E 31st Street, Minneapolis, MN 55406 - Image 11

Studio

Commercial Property for sale in Minneapolis, MN

for $685,000. This 5,324 square foot building was built in 1960 on a lot size of 0.1.

Updated 6 unit building fully rented with a 7.7% cap rate! 54k on NOI. Great location in Longfellow neighborhood. Walking distance to trails and river. Building consists of (4) 2 bedroom units, (2) 1 bedroom units. Units have been updated over the years. Laundry is in building run by BDS. Building offers 6 Parking spots. Great cash flow and upside. Contract For Deed Available.

Commercial Active

Price

^$ 685,000

Bedrooms

Studio

Property Type

Commercial

Taxes

^$ 9,541

Style

Apartment

Lot Size

0.1

Year Built

1960

Town/City

Minneapolis

County/Region

Hennepin

MLS | Web ID

6495781

Features

General

Sewer City Sewer/Connected

Heating Baseboard Hot Water

Cooling Wall Unit(s)

Utilities Electric Common Heating Common Hot Water Common

Roof Asphalt

Appliances Range Refrigerator

Garage Spaces 0

Construction Materials Stucco

Year Built 1960

Tenant Pays Cable TV Electricity

Levels Two

Property SubType Apartment

Tax Year 2023

Current Use Residential

Gross Income 83400

Accessibility None

County Hennepin

Net Operating Income 54059

Operating Expense 29341

Property Type Commercial Sale

Association Amenities Coin-op Laundry Leased

Contingency None

Subdivision Name Libbys Add

Directions Minnehaha to E 31st

City Minneapolis

Buyer Agent Compensation 2.00

High School District Minneapolis

Zoning Description Business/Commercial

Total Units 6

Street Name 31st

Land Lease Y/N N

Tax Annual Amount 9541

Additional Parcels Y/N N

Days on Market 55

Standard Status Active

Lender Owned No

Buyer Agent Compensation Type %

Exterior

Parking Features Parking Lot

Water Source City Water/Connected

Inclusions Building Leases Rental License

Lot Size Area 0.1

Building Area Total 5324

Lot Dimensions 6X70

Lot Size Units Acres

Foundation Area 1962

Interior

Basement (Y/N) N

Street Suffix Street

Fuel Natural Gas

Internal Only

Street Number 1 2818

* Excluded Features

List By

Exp Realty

Broker

corey.wright@exprealty.com

Affordability Calculator

$5,580

Per Month

Monthly Principal & Interest: $4,785
Monthly Property Taxes: $795
Monthly Home Insurance: --

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Interest Rate

Yearly Property Taxes

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 58%

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
4/24/2024	$685,000	-2.13%	Price Down
2/28/2024	$699,900		Listed Price

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2818 E 31st Street, Minneapolis, MN, 55406 is a Commercial Property for sale at $685,000 with 5,324 sqft and a lot size of 0.1. 2818 E 31st Street is a studio with 0.0 baths and was built in 1960. The property's zip code is 55406 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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2818 E 31st Street

Commercial Property for sale in Minneapolis, MN

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