1802 11th Ave S
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1802 11th Ave S
6 Unit Block of Flats £1,486,655 (£247,776/Unit) Minneapolis, MN 55404
Investment Highlights
- WALKING DISTANCE TO US BANK STADIUM ! THIS IS THE FIRST BUILDING OVER THE 11TH AVE BRIDGE. COULD BE IDEAL FOR AN OWNER OCCUPANT TO LIVE FOR FREE !
- IT IS SET UP SO IT CAN BE CONDOMINIUMS BUT SHORT TERMS STAYS ARE MOST LIKELY THE BEST USE.
- $100,000 of furniture included in the sale for short terms stays.
- THIS IS A ONE OF A KIND DESIGNER PROJECT; THE OWNER /Contractor DID MUCH OF THE WORK HIMSELF.
- ASSUMABLE LOAN OF ABOUT $1,000,000 AT 3.5% AVAILABLE !
- The entire top of the Parking Canopy is covered with solar panels.
Executive Summary
THIS IS BASICALLY A BRAND NEW BUILDING WITH A BEAUTIFUL BROWNSTONE SHELL !
A return to the pre-covid use of short term stays will be the likely course of action for a new owner. The income was up to $229,000. There are many short term stay platforms now; not just AIRBNB. The current leases are month to month.
CONTRACT FOR DEED TERMS considered with sizable down payment.
The owner started out with 12 worn out apartments, gutted the entire building, and put in 6 brand new apartments / condominiums. The units are set up so they can be condos with the values showing up as $450,000 to $480,000.
It is very energy efficient; it was insulted with spray foam and has solar panels.
A return to the pre-covid use of short term stays will be the likely course of action for a new owner. The income was up to $229,000. There are many short term stay platforms now; not just AIRBNB. The current leases are month to month.
CONTRACT FOR DEED TERMS considered with sizable down payment.
The owner started out with 12 worn out apartments, gutted the entire building, and put in 6 brand new apartments / condominiums. The units are set up so they can be condos with the values showing up as $450,000 to $480,000.
It is very energy efficient; it was insulted with spray foam and has solar panels.
Financial Summary (Pro forma - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £1,486,655 | Lot Size | 0.23 AC |
| Price Per Unit | £247,776 | Building Size | 8,841 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| No. Units | 6 | Number of Floors | 3 |
| Property Type | Residential | Year Built/Renovated | 1902/2017 |
| Property Subtype | Apartment | Parking Ratio | 0.68/1,000 SF |
| Apartment Style | Low Rise | Opportunity Zone |
Yes
|
| Building Class | C |
| Price | £1,486,655 |
| Price Per Unit | £247,776 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 8,841 SF |
| Average Occupancy | 100% |
| Number of Floors | 3 |
| Year Built/Renovated | 1902/2017 |
| Parking Ratio | 0.68/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Washer/Dryer
- Yard
- Double Pane Windows
- Patio
- Wheelchair Accessible (Rooms)
Site Amenities
- Laundry Facilities
- Picnic Area
- Furnished Units Available
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+2 | 4 | - | - |
| 1+1 | 1 | - | - |
| Studios | 1 | - | - |
1 of 1
Walk Score ®
Very Walkable (76)
Transit Score ®
Excellent Transit (74)
Bike Score ®
Biker's Paradise (96)
PROPERTY TAXES
| Parcel Number | 26-029-24-34-0049 | Total Assessment | £929,551 (2023) |
| Land Assessment | £102,266 (2023) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £827,284 (2023) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
26-029-24-34-0049
Land Assessment
£102,266 (2023)
Improvements Assessment
£827,284 (2023)
Total Assessment
£929,551 (2023)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2025
zoning
| Zoning Code | MF |
| MF |
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1802 11th Ave S
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