2641 Girard Ave S
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2641 Girard Ave S
7 Unit Block of Flats £1,143,261 (£163,323/Unit) 8.19% Net Initial Yield Minneapolis, MN 55408
Investment Highlights
- Several units recently renovated
- 5 car parking lot in rear
- ~10,800 sf total building size
- Huge 1,300 sf, 3+ Bedroom Units
- Fully Leased ~7.9% Cap Rate
- Beautiful hardwood floors, 3 season porch, & brick
Executive Summary
Price Reduced - Fully leased with nearly an 8% Cap Rate! Several units were just renovated. Bring all offers to this 7-Unit Multifamily Building For Sale near the Lakes in South Minneapolis! Renovated & huge 3+ bedroom, 1,300+ square foot units. Beautiful hardwood floors, 3 season porches, exposed brick & great natural light throughout. Rear room off the kitchen could be a 4th bedroom, dining room, or office. One legal and large garden level unit. Total building size of about 10,800 square feet. Coin-Op laundry in the basement with one washer and one dryer.
Tenants pay all utilities and each unit has new separately metered high efficiency gas boilers for hot water baseboard heat. 5 off-street parking stalls for additional income.
Contact Listing Brokers for tours and rent roll/expenses.
Tenants pay all utilities and each unit has new separately metered high efficiency gas boilers for hot water baseboard heat. 5 off-street parking stalls for additional income.
Contact Listing Brokers for tours and rent roll/expenses.
Property Facts
| Price | £1,143,261 | Building Class | C |
| Price Per Unit | £163,323 | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 10,800 SF |
| Net Initial Yield | 8.19% | Average Occupancy | 100% |
| No. Units | 7 | Number of Floors | 4 |
| Property Type | Residential | Year Built/Renovated | 1910/2024 |
| Property Subtype | Apartment | Parking Ratio | 0.42/1,000 SF |
| Apartment Style | Mid Rise |
| Price | £1,143,261 |
| Price Per Unit | £163,323 |
| Sale Type | Investment |
| Net Initial Yield | 8.19% |
| No. Units | 7 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 10,800 SF |
| Average Occupancy | 100% |
| Number of Floors | 4 |
| Year Built/Renovated | 1910/2024 |
| Parking Ratio | 0.42/1,000 SF |
Unit Amenities
- Cable Ready
- Dishwasher
- Bay Window
- Crown Moulding
- Eat-in Kitchen
- Wooden Floors
- Basement
- Built-In Bookshelves
- Deck
- Dining Room
Site Amenities
- Controlled Access
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 4+1 | 7 | - | 1,350 |
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Walk Score ®
Walker's Paradise (92)
Bike Score ®
Biker's Paradise (96)
PROPERTY TAXES
| Parcel Number | 33-029-24-42-0168 | Improvements Assessment | £821,033 |
| Land Assessment | £234,649 | Total Assessment | £1,055,682 |
PROPERTY TAXES
Parcel Number
33-029-24-42-0168
Land Assessment
£234,649
Improvements Assessment
£821,033
Total Assessment
£1,055,682
zoning
| Zoning Code | UN3 (Urban Neighborhood 3) |
| UN3 (Urban Neighborhood 3) |
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Mark Hulsey -
Hayden Hulsey, CCIM -
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2641 Girard Ave S
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