MN > Minneapolis > Nicollet Heights
Minneapolis, MN 55419,6141 Nicollet AVE S
Minneapolis, MN 55419,6141 Nicollet AVE S
Minneapolis, MN 55419,6141 Nicollet AVE S
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$1,650,000
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0.29 Acres Lot
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6141 Nicollet AVE S Minneapolis, MN 55419

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Steve Fiorella

Steve Fiorella

+1(612) 388-8186

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Key Details

Property Type Condo, Commercial

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Nicollet Heights

MLS Listing ID 6811146

Year Built 1960

Annual Tax Amount $23,066

Tax Year 2025

Contingent None

Lot Size 0.290 Acres

Acres 0.29

Lot Dimensions 80 x100

Property Sub-Type Apartment

Property Description

THE NICOLLET AVE APARTMENTS OFFERS INVESTORS A HIGHER RETURN FOR THEIR MONEY THEN MOST DEALS ON THE MARKET TODAY!! THE OWNER HAS CAREFULLY RENOVATED EVERY UNIT WITH NEWER KITCHENS, NEWER BATHROOMS, ALL NEW LIGHTING AND PLUMBING FIXTURES, NEW CARPET, REFINISHED ORIGINAL OAK HARDWOOD FLOORING, AND NEW TILE AND QUARTZ COUNTERTOPS!! EACH KITCHEN HAS ALSO RECEIVED A COMPLETE STAINLESS-STEEL APPLIANCE PACKAGE THAT INCLUDES FULL-SIZE DISHWASHERS. THE LAUNDRY MACHINES ARE LEASED THROUGH BDS ON A REVENUE SHARED PROGRAM AND OFFERS RESIDENTS AN ELECTRONIC PAYMENT SYSTEM. THE OWNER HAS ALSO INCREASED REVENUE SIGNIFICANTLY BY IMPLEMENTING A UTILITY REIMBURSEMENT PROGRAM THROUGH RUBS. THIS ASSET WILL CHANGE HANDS FULLY RENTED AND STABILIZED WITH MARKET RENTS AND LEASES RUNNING THROUGH SPRING/SUMMER OF 2026. THE CURRENT IN PLACE CAP RATE OF 8.9% IS BASED ON A NET OPERATING INCOME $146,772.

Location

State MN

County Hennepin

Zoning Residential-Multi-Family

Rooms

Basement Finished, Full

Interior

Heating Boiler

Cooling Window Unit(s)

Inclusions Building, Business, Land, Leases, Rental License

Fireplace No

Appliance Dishwasher, Range, Refrigerator

Exterior

Parking Features Paved

Utilities Available Electric Separate, Heating Common, Hot Water Common

Roof Type Age Over 8 Years,Flat

Present Use Residential

Building

Lot Description Corner Lot

Story Three Or More

Foundation 4000

Sewer City Sewer/Connected

Water City Water/Connected

Level or Stories Three Or More

Structure Type Brick/Stone

Schools

School District Minneapolis

Listed by Nathan Opatz • Apartment Cash Flow, Inc.

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Steve Fiorella

Steve Fiorella

Broker Associate | License ID: 40551269

+1(612) 388-8186

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6141 Nicollet AVE S

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