Property Description

1619 Hubbard Avenue is a remarkable investment opportunity to acquire 9 well-appointed units steps away from the prestigious Hamline University and five blocks south of the Minnesota State Fairgrounds. Every apartment is unique and spacious with some of them receiving solid surface quartz countertops, stainless steel appliances, refinished hardwood flooring, original French doors and luxury vinyl plank. Kitchens and bathrooms are remodeled with newer tile, cabinets, plumbing and lighting fixtures and fresh paint. Newer hot water boiler services all the apartments for heat. All the electrical panels and breakers have been updated. The exterior siding is maintenance free and windows have all been replaced. Both the pitched roofs on the main building and detached garage are newer. Building sits on a larger 0.34 acres with a five-car garage for additional income and a back parking lot for tenants with plenty of off-street parking. Lower level has the potential to add another unit making it a 10-unit. This asset is 100% full and super easy to keep rented. In place NOI of $67,772 and a 6.16% cap rate. This property has been well managed over the years and has great curb appeal!