2413 1st Avenue S
Minneapolis, MN 55404
Price: $1,999,900
This stunning, nearly new multi-family building constructed in 2022 offers 18 bedrooms and 15 bathrooms across 6 units, delivering exceptional cash flow. Each unit features beautiful cabinetry, premium appliances, quartz countertops, and convenient kitchen center islands. You'll also find front-load washer and dryer sets in every unit, plus private balconies for enjoying fresh air and views. The tasteful, modern design flows seamlessly throughout with high-quality finishes, including tiled bathroom floors and showers. Located just one block from the prestigious Minneapolis College of Art and Design (MCAD), this property is perfectly positioned for student housing, young professionals, or long-term tenants. The previous tenant for 4 years rented the entire building for $15,000 per month (tenant paid all utilities and exterior maintenance), with the current lease ending at the end of April 2026. Units are actively leasing up, with projected total rents exceeding $15,500 per month. Built in 2022, the property requires minimal maintenance or repairs. This is a rare opportunity to own a new modern, income-producing asset that cannot be easily recreated. Schedule your showing today and take advantage of this fabulous cash-flow opportunity!
Basic Features:
| Type |
Commercial Sale |
| Zoning |
Residential-Multi-Family |
| Year Built |
2022 |
| School District |
Minneapolis |
| County |
Hennepin |
| Lot Size |
47 x 125 |
| Acreage |
0.14 acres |
| Bedrooms |
18 |
| Total Baths |
15 |
| Number of Units |
6 |
| Tax $ / Year |
$22,723 / 2025 |
| Tax ID |
|
| Legal Description |
|
Includes:
Cooktop,Dishwasher,Disposal,Dryer,Electric Water Heater,Freezer,Microwave,Range,Refrigerator,Stainless Steel Appliances,Washer,Building,Land
Additional Features
| Government Programs |
|
| Section |
34 |
| Terrain Type |
|
| Basement |
Drain Tiled,Drainage System,Egress Window(s),Finished,Concrete,Tile Shower |
| Cooling |
Central Air |
| Driveway |
|
| Foundation |
2030.00 |
| Fuel Source |
Electric |
| Handicap Access |
Other |
| Heating |
Forced Air |
| Roof |
Age 8 Years or Less,Asphalt |
| Sewer Service |
City Sewer/Connected |
| Water Service |
City Water/Connected |
| Water Heater |
|
| Parking Lot |
Driveway - Other Surface |
| Exterior Construction |
|
| Fencing |
Wood |
| Utilities |
Electric Common |
| Laundry |
N |
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 Coldwell Banker Nybo & Associates 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.
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