6141 Nicollet AVE S Active Save Request In-Person Tour Request Virtual Tour
Minneapolis,MN 55419
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Nicollet Heights
MLS Listing ID 6699993
Year Built 1958
Annual Tax Amount $22,595
Tax Year 2024
Contingent None
Lot Size 0.290 Acres
Acres 0.29
Lot Dimensions 80 x100
Property Sub-Type Apartment
Property Description
THE NICOLLET AVE APARTMENTS OFFERS INVESTORS A HIGHER RETURN FOR THEIR MONEY THEN MOST DEALS ON THE MARKET TODAY!! THE OWNER HAS CAREFULLY RENOVATED EVERY UNIT WITH NEWER KITCHENS, NEWER BATHROOMS, ALL NEW LIGHTING AND PLUMBING FIXTURES, NEW CARPET, REFINISHED ORIGINAL OAK HARDWOOD FLOORING, NEW TILE AND QUARTZ COUNTERTOPS!! EACH KITCHEN HAS RECEIVED A COMPLETE STAINLESS-STEEL APPLIANCE PACKAGE THAT INCLUDES DISHWASHERS. THE LAUNDRY MACHINES ARE LEASED THROUGH BDS ON A REVENUE SHARED PROGRAM AND OFFERS RESIDENTS AN ELECTRONIC PAYMENT SYSTEM. THE OWNER HAS ALSO INCREASED REVENUE SIGNIFICANTLY BY IMPLEMENTING A UTILITY REIMBURSEMENT PROGRAM THROUGH RUBS. THIS ASSET WILL CHANGE HANDS FULLY RENTED AND STABILIZED WITH MARKET RENTS AND LEASES RUNNING THROUGH THIS FALL AND INTO SPRING 2026. CURRENT IN-PLACE CAP RATE OF 7.97% ON NET OPERATING INCOME $139,000+
Location
State MN
County Hennepin
Zoning Residential-Multi-Family
Rooms
Basement 8 ft+ Pour,Finished,Full
Interior
Heating Boiler
Cooling Window Unit(s)
Inclusions Building,Business,Land,Leases,Rental License
Fireplace No
Appliance Dishwasher,Range,Refrigerator
Exterior
Parking Features Paved
Utilities Available Electric Separate,Heating Common,Hot Water Common
Roof Type Age Over 8 Years,Flat
Present Use Residential
Building
Story Three Or More
Foundation 4000
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Three Or More
Structure Type Brick/Stone
Schools
School District Minneapolis