3001 N 3rd Street Minneapolis, MN $ 995,000
3001 N 3rd Street
$ 995,000
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3001 N 3rd Street

Minneapolis, MN, 55411
$ 995,000
Baths0.0 Sq 7,392

Monthly Estimate*

$ 6,950

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Studio

Commercial Property for sale in Minneapolis, MN

for $995,000. This 7,392 square foot building was built in 1963 on a lot size of 0.21.

Now for sale, 3001 N 3rd St is a fully renovated 8 Unit with updated units and mechanicals offering investors a low maintenance and affordable investment option to add to their portfolio. The building is conveniently located off Highway 94 which is less than 5 miles or a 10 minute drive to North Loop and downtown Minneapolis. A strong mix of 1 & 2 beds, desirable layouts and numerous modern security updates give tenants a sense of safety. New owners will be able to capitalize on the properties 4-D tax status and tax rate of an estimated .25%! (reduced from an estimated 1.6%).

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Commercial Active

Price

$ 995,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 7,105

Style

Apartment

Lot Size

0.21

Year Built

1963

Town/City

Minneapolis

County/Region

Hennepin

MLS | Web ID

6513337

Features
General
Sewer City Sewer/Connected
Heating Boiler
Cooling Wall Unit(s)
Utilities Electric Separate
Roof Age Over 8 Years
Appliances Cooktop Exhaust Fan Microwave Range Refrigerator Stainless Steel Appliances
Garage Spaces 0
Construction Materials Brick/Stone Stucco
Year Built 1963
Tenant Pays Electricity
Levels Two
Property SubType Apartment
Tax Year 2023
Current Use Residential
Gross Income 119971.51
Accessibility None
County Hennepin
Net Operating Income 65820.92
Operating Expense 48152.01
Insurance Expense 8441.2
Property Type Commercial Sale
Association Amenities Coin-op Laundry Owned
Contingency None
Subdivision Name Morrisons Add To North
Directions 94 north to N 26th Ave North on N 3rd St property will be on your left
City Minneapolis
Buyer Agent Compensation 2.70
High School District Minneapolis
Zoning Description Business/Commercial Residential-Multi-Family
Total Units 8
Street Name 3rd
Land Lease Y/N N
Tax Annual Amount 7105
Electric Expense 1121.56
Fuel Expense 5471.36
Trash Expense 3367.19
Water Sewer Expense 8225.73
Additional Parcels Y/N N
Days on Market 23
Standard Status Active
Lender Owned No
Buyer Agent Compensation Type %
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Exterior
Parking Features Parking Lot
Water Source City Water/Connected
Inclusions Rental License
Lot Size Area 0.21
Building Area Total 7392
Lot Dimensions 52x170
Lot Size Units Acres
Foundation Area 3696
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Interior
Basement (Y/N) N
Street Suffix Street
Fuel Natural Gas
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Internal Only
Street Number 1 3001
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* Excluded Features
List By
Mrg Realty Partners, Llc

Broker

nate@mrgrealtypartners.com

Email

Affordability Calculator

$7,542
Per Month
92%
8%
0%
Monthly Principal & Interest
$6,950
Monthly Property Taxes
$592
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
4/4/2024$995,000 Listed Price

Map


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3001 N 3rd Street, Minneapolis, MN, 55411 is a Commercial Property for sale at $995,000 with 7,392 sqft and a lot size of 0.21. 3001 N 3rd Street is a studio with 0.0 baths and was built in 1963. The property's zip code is 55411 which is in Minneapolis, MN