137 17Th St Minneapolis, MN 55403
- Commercial real estate
- 20,480 SF
- 0.22 lot acres
Current Use by Public Records
- Highway Garden / Garden
- Cool Sculpture / Sculpture
Property Details for 137 17Th St
- Year built
- 1918
- Lot size
- 0.22 lot acres
- Property size
- 20,480 SF
- Property type
- Commercial real estate
- APN
- 27-029-24-43-0077
Description
This exceptional 35-unit apartment building, located at 137 E 17th St, Minneapolis, MN 55403, presents a compelling investment opportunity. Built in 1918 and extensively renovated in 2013, this four-story building boasts 20,480 square feet situated on a 0.22-acre lot in Hennepin County. The property features updated kitchens and bathrooms in all 35 units, minimizing future maintenance costs. Major systems, including electrical, have undergone complete modernization. Tenant-paid electric baseboard heating significantly reduces landlord utility expenses, contributing to a higher net operating income (NOI). The building's studio units are notably larger than comparable properties in the market. Furthermore, participation in the 4D program offers the potential for tax reduction by restricting 60% of units to tenants at 60% of the Area Median Income (AMI) for a 10-year period. The property's APN is 27-029-24-43-0077. This well-maintained building offers a strong return on investment with its updated systems, efficient design, and potential tax benefits. The asking price for this prime Minneapolis multifamily property is $3,255,000.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Minneapolis
- County
- Hennepin
- State
- Minnesota
- Longitude
- -93.27456301083
- Latitude
- 44.966288494508
