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    2014 2Nd Ave Minneapolis, MN 55404

    Sponsored
    For Sale
    $1,025,000

    Historic 9-unit apartment building, prime location.

    Property size:
    9,480 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 9-unit apartment building, situated at 2014 2nd Ave S in Minneapolis, Minnesota, presents a compelling investment opportunity. Built in 1929, this three-story structure boasts a total of 9,480 square feet and offers a diverse unit mix including four one-bedroom apartments, four efficiency units, and one three-bedroom apartment. The property includes four onsite parking spaces, a significant amenity in this desirable location. Recent capital improvements include a new roof installed in 2016 and a new boiler system in 2022, enhancing both the building's functionality and its long-term value. Several units have been updated with newer windows. Adding to its appeal, this building holds a prestigious designation as a historic apartment building by the Minneapolis Heritage Preservation Commission. Its proximity to the Minneapolis Institute of Arts further enhances its desirability and potential for strong rental income. The asking price is $1,025,000, translating to $108.12 per square foot and $113,888.89 per unit. This property offers a blend of historic charm, modern updates, and a prime Minneapolis location.

    Property Features for 2014 2Nd Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    9,480 SF

    Building Details

    Year Built
    1929
    Buildings
    1
    Stories
    3
    Units
    9

    HighLights

    • $1,025,000 asking price for a 9‑unit apartment building.
    • 9,480 square feet, offering $108.12 per square foot.
    • Nine units, averaging $113,889 per unit.
    • Three‑story building constructed in 1929.
    • Four onsite parking spaces.
    • New roof (2016) and boiler (2022).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Law Firm Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.2743433
    Latitude
    44.9620467

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    FAQs

    What type of property is this?
    Multifamily property - Historic 9-unit apartment building, prime location.
    Where is this multifamily property located?
    The property is located at 2014 2Nd Ave Minneapolis, MN.
    What is the asking price?
    The asking price for this property is $1,025,000.
    What are key features of this property?
    This property features: $1,025,000 asking price for a 9-unit apartment building.; 9,480 square feet, offering $108.12 per square foot.; Nine units, averaging $113,889 per unit.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2014 2Nd Ave Minneapolis, MN 55404
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