Minneapolis, MN 55411

$1,750,000
Property Type: Commercial Square Footage: 35,493 Lot Size (sq. ft.): 14,810 Status: Closed
Current Price: $1,750,000 List Date: 7/12/2024 Last Modified: 3/31/2025

Overview

Description

This trio of historic apartment buildings totaling 35 Units is located on the western fringe of Minneapolis, in the city’s Willard-Hay neighborhood. Tenants enjoy access to Theodore Wirth Parkway/Park amenities less than a ½ mile away, as well as quick walking access to the newly opened METRO C Line for fast access to downtown Minneapolis. The buildings have been cared for, well maintained, and are fully stabilized. These properties MUST be sold as a package. Currently all 3 properties are professionally managed by a quality local management company. ADDRESSES: 2517 Golden Valley Road, 2601 Golden Valley Road, 1900 Thomas Avenue.

Listing Details MLS# 6382838

General Property Information

Lot Measurement
Acres
Multiple PIDs?
Yes
Other Parking Spaces
19
Year Built
1929
Yearly/Seasonal
Yearly
Zoning
Residential-Multi-Family
Foundation Size
35493
For Sale or Lease
For Sale
Acres
0.34
Lot Dimensions
34406
Assessment Pending
Unknown
Garage Stalls
0

Property Features

Accessible: None CMU Style: Apartments/Multi Family Construction Status: Previously Owned Current Use: Residential Exterior: Brick/Stone Financing Terms: Conventional Fuel: Natural Gas Heating: Boiler On Site Utilities: Electric Separate; Heating Common Parking Characteristics: Parking Lot Sewer: City Sewer/Connected Water: City Water/Connected

Contract Information

Off Market Date
2024-09-23
Closed Date
2025-03-31
Sales Close Price
1750000
Contingency
None
ListPrice
1985000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

Postal City
Minneapolis
County
Hennepin
State
MN
Zip Code
55411
Complex/Dev/Subdivision
Fairlawn Add

Additional Parcels Information

Property ID #2
1702924420004
Property ID #3
1702924140112

Assessments

Tax With Assessments
39649
Assessment Balance
0

More Information

Building Information

Building Finished SqFt
35493
Building SqFt
35493

Income and Expenses

Annual Gross Expenses
188309
Annual Gross Income
376618
Annual Net Income
188309

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Public Survey Info

Range#
24
Section#
17
Township#
29

Sale Options

Sale Includes
Building

Unit 1

No. of 1 Bedroom Units
21

Unit 2

No. of 2 Bedroom Units
10

Unit 3

No. of 3 Bedroom Units
Yes

Unit Details

Total Units
35

Unit Information

No. of Efficiency Units
3

Office/Member Info

Association
SPAAR
MLSID
RMLS

Location, Tax and Other Information

Listing City
Minneapolis
Map Page
106
Municipality
Minneapolis
Rental License?
No
School District
Minneapolis
School District Phone
612-668-0000
Zip Plus 4
3331
Property ID Number
1702924410120
Tax Year
2023
Tax Amount
39649
In Foreclosure?
No
Potential Short Sale?
No
Lender Owned?
No

Directions & Remarks

Public Remarks
This trio of historic apartment buildings totaling 35 Units is located on the western fringe of Minneapolis, in the city’s Willard-Hay neighborhood. Tenants enjoy access to Theodore Wirth Parkway/Park amenities less than a ½ mile away, as well as quick walking access to the newly opened METRO C Line for fast access to downtown Minneapolis. The buildings have been cared for, well maintained, and are fully stabilized. These properties MUST be sold as a package. Currently all 3 properties are professionally managed by a quality local management company. ADDRESSES: 2517 Golden Valley Road, 2601 Golden Valley Road, 1900 Thomas Avenue.
Directions
From HWY100 Exit Duluth Street/Golden Valley Road. Eastbound 1.8 Miles to destination.

Accessible

None
Yes

Construction Status

Previously Owned
Yes

Exterior

Brick/Stone
Yes

Financing Terms

Conventional
Yes

Fuel

Natural Gas
Yes

Heating

Boiler
Yes

Parking Characteristics

Parking Lot
Yes

Sewer

City Sewer/Connected
Yes

Water

City Water/Connected
Yes

On Site Utilities

Electric Separate
Yes
Heating Common
Yes

CMU Style

Apartments/Multi Family
Yes

Current Use

Residential
Yes
IDX
Listing Office: MRG Realty Partners, LLC
Last Updated: March - 31 - 2025
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.

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