Active

2700 Garfield Avenue

Minneapolis MN, 55408

$1,200,000


$225.23 per sqft

Active

5,328 sqft

Commercial

Built in 1959

MOTIVATED SELLER - Encouraging Offers! Located in the heart of the Whittier neighborhood, this beautifully renovated 8-unit apartment presents an exceptional investment opportunity - featuring a unit mix of seven x one-bedroom units and one x studio, along with five parking stalls. With a mix of long-term tenants and fully furnished mid-term and short-term units, this property is already generating strong income, grossing north of $11,000 per month, representing an in-place cap rate of 7.81%! The property has undergone an extensive renovation, addressing everything from the exterior facade and landscaping to the common areas and in-unit upgrades. Each unit is tastefully updated, ensuring a modern living experience for all residents. Whether you're looking to expand your portfolio or seeking a solid investment in a vibrant Minneapolis neighborhood, 2700 Garfield Avenue South offers a rare blend of immediate income and long-term value appreciation. Don't miss out on this well-maintained, high-performing asset in one of the city's most sought-after areas!

6624560

MLS ID

October 29, 2024

Listed

November 23, 2024

Updated

Map

2700 Garfield Avenue
Minneapolis MN, 55408

Interior Features

Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Boiler, Hot Water

Exterior/Building Features

Lot Size

0.12 Acres


Sewer

City Sewer/Connected

School Information

School District

Minneapolis

Other Property Details

Taxes

$16,315


Tax Frequency

Annually


Garage

No


Parking

Driveway - Other Surface


View

No


County

Hennepin


Water Source

City Water/Connected


Pool

No

 

Courtesy of Compass

If a listing is in Coming Soon status, it is not currently available for showings but will be soon. Open House information is subject to change without warning. This home sale information is not an appraisal, competitive or comparative market analysis, CMA, or home evaluation. Information Deemed Reliable But Not Guaranteed. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Heather Zielinski shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

©2024 Northstar MLS. All rights reserved. 

Data last updated 2:36 PM UTC, 11/23/2024

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