2735 Aldrich AVE S Minneapolis, MN 55408
6,098 Sqft Lot
UPDATED:
02/08/2025 02:05 AM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Penneys Sub 13 Russells Outlot
MLS Listing ID 6658670
Year Built 1920
Annual Tax Amount $24,137
Tax Year 2024
Contingent None
Lot Size 6,098 Sqft
Acres 0.14
Lot Dimensions 50x119
Property Description
This wonderfully located 8 unit building recently completed a major renovation - including adding significant finished living space, all new kitchens and bathrooms, new & refinished floors, appliances, new roof, new plumbing and electrical throughout, fresh paint, trim and fixtures. The renovation wonderfully mixes the old charm and character of the original building with fresh updates throughout that will attract tenants and keep repair and maintenance expenses low.
Annual gross income is $151,200. Cap rate is above market at 8%.
Unit breakdown: 1BR+1 BA (4x). 2 BR+1 BA (2x). 3BR+ 2BA. 4BR+ 2BA. Two units are fully furnished and operating as STRs and mid-term rentals.
Location
State MN
County Hennepin
Zoning Residential-Multi-Family
Rooms
Basement Egress Window(s), Finished, Full, Partially Finished, Shared Access
Interior
Heating Boiler, Radiant
Cooling Window Unit(s)
Inclusions Building, Fixture/Equipment, Land, Leases, Rental License
Fireplace No
Appliance Dryer, Freezer, Gas Water Heater, Range, Refrigerator, Washer
Exterior
Parking Features Assigned, Asphalt, Paved, Open
Utilities Available Electric Separate, Heating Common, Hot Water Common
Roof Type Flat
Present Use Residential
Building
Story Two
Foundation 2816
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
Structure Type Brick/Stone
Schools
School District Minneapolis
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