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    2050 W Broadway Avenue

    Minneapolis, MN 55411
    • $424,900
    • STATUS: Contingent
    • ON SITE: 100 days
    • ID#: 5349456
    $424,900
    • 6
      BEDS
    • 0.13
      ACRES
    • 2
      BATHS
    • 0
      1/2 BATHS
    • 3,588
      SQFT
    • $118
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1904
    County:
    Area:

    School Ratings & Info

    School District:
    Listing courtesy of Edina Realty, Inc..

    Description

    In the heart of Broadway & Penn. Come see all the new development that surround this Triplex. The building has been gutted and re-built; EVERYTHING IS NEW - Electrical, Plumbing, Duct Work, Water Heaters, HVAC, Framing, Insulation, Drywall, leveling of floors, Windows, bathrooms, kitchens, finish work, doors, AC and the list goes on. All units have separate front and back entrances, separate HVAC, separate utilities and a shared basement area for storage and laundry. 3 furnaces. 3 water heaters. 3 central air units. Common laundry area in basement. Storage space in basement. APPLIANCES ARE BEING INSTALLED. Sprinkler system in building. Based on the average rents and estimation for additional income, CAP Rates are coming in at 8.03% and Cash on Cash is 13.90% with 25% down at a rate of 4.5%. With tax breaks, that's a 17.24% return. These are the best returns I've seen in this market.

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    IDX data © 2020 Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than The Pomerleau Team are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. The Pomerleau Team is not a Multiple Listing Service, nor does it offer MLS access. This website is a service of The Pomerleau Team, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc. Information deemed reliable but not guaranteed. By viewing the listings on this site, you are agreeing to abide by the RMLS End-User License Agreement. Data last updated 2020-10-22T00:08:29.77.

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    2050 W Broadway Avenue Minneapolis, MN 55411

    • Price: $424,900
    • Status: Contingent
    • ID#: 5349456
    6
    Beds
    2
    Baths
    0
    ½ Baths
    0.13
    Acres
    3,588
    SQFT
    $118
    $/SQFT
    1904
    Built
    Neighborhood:
    Forest Heights
    County:
    Hennepin
    Area:
    Minneapolis
    School District:
    1 - Minneapolis
    Property Description
    In the heart of Broadway & Penn. Come see all the new development that surround this Triplex. The building has been gutted and re-built; EVERYTHING IS NEW - Electrical, Plumbing, Duct Work, Water Heaters, HVAC, Framing, Insulation, Drywall, leveling of floors, Windows, bathrooms, kitchens, finish work, doors, AC and the list goes on. All units have separate front and back entrances, separate HVAC, separate utilities and a shared basement area for storage and laundry. 3 furnaces. 3 water heaters. 3 central air units. Common laundry area in basement. Storage space in basement. APPLIANCES ARE BEING INSTALLED. Sprinkler system in building. Based on the average rents and estimation for additional income, CAP Rates are coming in at 8.03% and Cash on Cash is 13.90% with 25% down at a rate of 4.5%. With tax breaks, that's a 17.24% return. These are the best returns I've seen in this market.
    Exterior Features

    Construction Materials Vinyl SidingBrick/Stone Fencing None Garage Square Feet 0 Levels More Than 2 Stories Lot Features Public Transit (W/In 6 Blks) Lot Size Dimensions 45X125 Parking Features Detached Roof AsphaltAge 8 Years Or Less Waterfront YN No

    Interior Features

    Above Grade Finished Area 2384 Basement FullDaylight/Lookout Windows Below Grade Finished Area 1204 Fireplace YN No Foundation Area 1204 Heating Forced Air SQFTAbove Ground Total 2384.00 SQFTBelow Ground Total 0.00 SQFTMain Total 1204.00 SQFTTotal 2384.00 U1 Unit Sq Ft 913 U2 Unit Sq Ft 913 Unit1 Bedroom1 Description Bedroom 1 Unit1 Bedroom1 Dimensions 8X8 Unit1 Bedroom1 Level Main Unit1 Bedroom2 Description Bedroom 2 Unit1 Bedroom2 Dimensions 11X12 Unit1 Bedroom2 Level Main Unit1 Bedroom3 Description Bedroom 3 Unit1 Bedroom3 Dimensions 8X9 Unit1 Bedroom3 Level Main Unit1 Dining Room Description Dining Room Unit1 Dining Room Dimensions 10X12 Unit1 Dining Room Features Informal Dining Room Unit1 Dining Room Level Main Unit1 Kitchen Description Kitchen Unit1 Kitchen Dimensions 9X13 Unit1 Kitchen Level Main Unit1 Living Room Description Living Room Unit1 Living Room Dimensions 12X14 Unit1 Living Room Level Main Unit1 Total Rent 1375.00 Unit2 Bedroom1 Description Bedroom 1 Unit2 Bedroom1 Dimensions 9X9 Unit2 Bedroom1 Level Upper Unit2 Bedroom2 Description Bedroom 2 Unit2 Bedroom2 Dimensions 11X12 Unit2 Bedroom2 Level Upper Unit2 Bedroom3 Description Bedroom 3 Unit2 Bedroom3 Dimensions 8X10 Unit2 Bedroom3 Level Upper Unit2 Dining Room Description Dining Room Unit2 Dining Room Dimensions 12X13 Unit2 Dining Room Features Informal Dining Room Unit2 Dining Room Level Upper Unit2 Kitchen Description Kitchen Unit2 Kitchen Dimensions 9X15 Unit2 Kitchen Level Upper Unit2 Living Room Description Living Room Unit2 Living Room Dimensions 12X12 Unit2 Living Room Level Upper Unit2 Total Rent 1375.00

    Property Features

    Accessibility Features None Additional Parcels YN No Association Amenities PorchFire Sprinkler System Contingency Inspection Electric Circuit Breakers100 Amp Service Electric Expense 0 Expenses 0.00 Foreclosure Status No Fuel Natural Gas Fuel Expense 0 Gross Income 46500 Insurance Expense 0 Lender Owned No Maintenance Expense 0 Manager Expense 0 Neighborhood Jordan New Construction YN No Operating Expense 0 Other Expense 0 Owner Pays TaxesInsuranceWaterTrash Collection Postal City Minneapolis Potential Short Sale No Present Use Yearly Property Sub Type Triplex Road Frontage Type City StreetPaved StreetsCurbsSidewalks School District Number 1 Sewer City Sewer/Connected Tax Annual Amount 2939 Tax With Assessments 4189.78 Tax Year 2020 Tenant Pays ElectricityFuel Trash Expense 0 Unit Type Unit 1Unit 2Unit 3Unit 4 Water Sewer Expense 0 Water Source City Water/Connected Zoning Description Residential-Multi-FamilyBusiness/Commercial

    © 2020 Regional Multiple Listing Service of Minnesota, Inc. All rights reserved.
    Listing courtesy of Edina Realty, Inc.. This home sale information is not an appraisal, competitive or comparative market analysis, CMA or home valuation. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items.


    IDX data © 2020 Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than The Pomerleau Team are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. The Pomerleau Team is not a Multiple Listing Service, nor does it offer MLS access. This website is a service of The Pomerleau Team, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc. Information deemed reliable but not guaranteed. By viewing the listings on this site, you are agreeing to abide by the RMLS End-User License Agreement. Data last updated 2020-10-22T00:08:29.77.

    Click here for Digital Millennium Copyright Act
     
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    The Pomerleau Team
    11671 Fountains Drive, Suite 200
    Maple Grove MN, 55369
    Listing courtesy of Edina Realty, Inc..