Residential Income
1221 / 1223 Mount Curve Avenue, Minneapolis, MN 55403
For Sale
$1,200,000
Built in 1914, the property includes a finished lower level with storage and walk-out access.
Property Size5,338 SF
Price / SF$224.80
Days on Market22
Property Features for 1221 / 1223 Mount Curve Avenue
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Amenities
Natural Gas
Walk-Out Access, Block, Finished, Full, Storage Space
Attached
Building Details
Building Size
Year Built
Listed By:
Susan Westerman
(612) 599-7050
Source:
Evrealestate
Added: Oct 24
Changed: Nov 10
Last Checked: Nov 12 at 7:00AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Susan Westerman
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Investment Insights
Based on property information with market context.
This residential income property at 1221 / 1223 Mount Curve Avenue was built in 1914 and is zoned Residential-Multi-Family. Its full lower level is finished and includes storage space and walk-out access. Natural gas is also listed among the interior features.
The property is situated at the corner of Mount Curve Avenue and Fremont Avenue in Minneapolis.
The property is situated at the corner of Mount Curve Avenue and Fremont Avenue in Minneapolis.
Key Highlights
- Built in 1914
- Residential‑Multi‑Family zoning
- Finished full lower level with storage and walk‑out access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,634
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,432,680
$1.4M
Cap Rate 7%
$1,023,343
$1.0M
Cap Rate 9%
$795,933
$795.9K
Market Conditions
NOI Build-Up for 5,338 SF
Gross rent
$139.0K $26.04/SF
− Vacancy
−$8.8K −$1.64/SF
EGI
$130.2K $24.40/SF
− OpEx
−$58.6K −$10.98/SF
NOI
$71.6K $13.42/SF
Area
Minneapolis, MN
Vacancy
6.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,432,680
Cap Rate 7%
$1,023,343
Cap Rate 9%
$795,933
Alternative Uses
Best Use
Apartment 5plus
$1.02M
$895.4K – $1.19M
NOI $71,634 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.49M
NOI $89,148 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,456
Businesses Nearby
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Business Placement
Demographics for 55403, MN
17,707
Population
12,906
Households
1.4
Avg Household Size
35
Median Age
59%
College-Educated
96%
High-School Grad
1.4 sq mi
ZIP Area
12,648
Density / Sq Mi
$59,928
Median Household Income
$50,876
Median Earnings
$1,199
Median Rent
$285,200
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Minneapolis, MN
Properties on Market for Residential income properties in Minneapolis
Frequently Asked Questions
What type of property is this?
Residential income property - Built in 1914, the property includes a finished lower level with storage and walk-out access.
Where is this residential income property located?
The property is located at 1221 / 1223 Mount Curve Avenue Minneapolis, MN.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Built in 1914; Residential‑Multi‑Family zoning; Finished full lower level with storage and walk‑out access
