3515 2Nd Ave Minneapolis, MN 55408
- Commercial real estate
- 8,500 SF
- 0.19 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 3515 2Nd Ave
- Year built
- 1923
- Lot size
- 0.19 lot acres
- Property size
- 8,500 SF
- Property type
- Commercial real estate
- APN
- 03-028-24-42-0041
Description
This 12-unit apartment building in Minneapolis, MN, offers a compelling investment opportunity. Built in 1923 and fully renovated in 2016, the property boasts 8,500 square feet, with 7,950 square feet of net rentable space across a diverse unit mix: one studio, two one-bedroom, five two-bedroom, and four three-bedroom apartments. Situated on a 0.19-acre lot, it includes nine on-site parking spaces. The extensive 2016 renovation encompassed new plumbing, HVAC systems, and high-end finishes including solid surface countertops, new cabinetry, stainless steel appliances, and contemporary flooring. The property enjoys a prime location in the Central neighborhood, near Interstate 35W, public transportation, and ample retail options. The current average rent is $2.08 per square foot. A potential loan assumption of $1,383,922 at 5.68% interest for three years is available, subject to lender approval and assumption fees. This turnkey asset presents a rare chance to acquire a stabilized, high-quality property in a desirable Minneapolis location, blending modern amenities with classic charm. The property's address is 3515 2nd Ave S, Minneapolis, MN 55408. The Hennepin County APN is 03-028-24-42-0041. The building is three stories.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Minneapolis
- County
- Hennepin
- State
- Minnesota
- Longitude
- -93.2737114
- Latitude
- 44.939032
