4101 Cedar Ave, Minneapolis, MN 55407

This exceptional four-unit apartment building, located at 4101 Cedar Ave S in Minneapolis, MN 55407, presents a compelling investment opportunity. Built in 1928 and extensively renovated in 2023, this property boasts 4,368 square feet and offers a strong net operating income (NOI) of $37,088. Each unit features a spacious one-bedroom, one-bathroom layout, updated with modern finishes and energy-efficient systems, including individual water heaters. The lower units command a monthly rent of $1,140, while the upper units rent for $1,240, resulting in a price per unit of $167,250. Three to four designated parking spots are available for tenants. The property benefits from its prime location in Minneapolis, just north of Lake Nokomis, and is situated in Hennepin County. Furthermore, this property is enrolled in the 4D Affordable Housing Program, which will provide up to an 80% property tax reduction starting in 2025, significantly enhancing its long-term financial prospects. The asking price for this fully occupied, turn-key property is $599,999. This presents a rare chance to acquire a well-maintained, high-performing multifamily asset in a desirable Minneapolis neighborhood with significant potential for appreciation and strong rental income. The property's APN is 1202824230145.