Address Hidden Per Request Of Owner

$450,000

Pending

| MLS # 6732823

Pending

About The Listing

PROPERTY HIGHLIGHTS
- Property has a boiler system for heat; the front portion of building has central rooftop
unit for A/C, and other portions have window A/C units 2008 roof
- 3-year old rubber membrane roof on front of building; shingled roof on back side of building
- Washer, dryer, breakroom, and storage in lower level
- 21'x20' detached garage, 2-stalls
- Recent Renovations: New 10'x 25' shed, new shower and kitchen in residential portion, new concrete apron for driveway, painted exterior in 2022, new gutters, new 40 gallon water heater, new awning, new double pane windows for residential portion, new doors upstairs Lower-level laundry
- Seconds from shopping destinations: Grocery, retail, restaurants, and coffee shops
Seller willing to leaseback the main and lower level for 3 years at $3,000/month. The AIRBNB has averaged $2,252/month over the last 18 months. Assuming those numbers, below is how the property performs financially:
Gross Income: $63,024
Operating Expenses:$25,609
Debt Service: $27,345 (25% down payment, $450K purchase price, 6.50% interest rate, 25 year amortization)
Cash Flow After Debt Service: $10,069
Cap Rate: 8.31%
Cash on Cash: 8.95%

Listing courtesy of Royce Durhman, Keller Williams Premier Realty Lake Minnetonka

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Property Details

Features

Property Type: Commercial

Status: Pending

Contingency Type: None

Year Built: 1923

MLS #: 6732823

Garage Spaces: 2

Parking Description: Detached, Parking Lot

Sewer Description: City Sewer/Connected

Air Conditioning Type: Central Air

Water: City Water/Connected

Heat Type: Radiator(s)

Basement: Storage Space, Tile Shower

Construction Description: Stucco

Roof Description: Asphalt, Rubber

Days On Market (Continuous): 8

Disability Features: Doors 36"+

Latest Update: 06/23/2025

List Date: 06/04/2025

Listing Agent ID: 502211908

Listing Office: Keller Williams Premier Realty Lake Minnetonka

Listing Office ID: 6588

Data Source: NorthstarMLS - The Regional MLS of Minnesota

Interior

Appliances: Cooktop, Freezer, Microwave, Refrigerator, Stainless Steel Appliances, Wall Oven, Washer

Exterior

Lot Dimensions: 40x134

Lot Size: 0.12 Acres

Lot Features: Infill Lot

Schools

School District: Minneapolis

Financials

Tax Year: 2025

Estimated Taxes: $10,293

Contingency Type: None

Location

Subdivision: Minnehaha Park Add

Listing last updated: 06/23/25

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