1500 10th Avenue S Minneapolis, MN - Image 11500 10th Avenue S Minneapolis, MN - Image 2

$1,300,000

1 Beds 1 Baths 10,020 SQFT 0.25 Acres
Type: Commercial

1500 10th Avenue S
Minneapolis, MN 55404

MLS#: 7090913
Ted Bergstrom
Ted Bergstrom
The Real Estate Advantage
Agent
Phone: 612.723.5444
Office: 952.224.8800
Presented by: HomeSmart Sapphire Realty

Property Description

 

Exceptional investment opportunity in high-demand Elliot Park! This well maintained 12-unit apartment building features spacious one bedroom, one bath units with generous living areas, several of which have been tastefully remodeled. Located just minutes from downtown Minneapolis, the property enjoys a highly walkable location with excellent access to public transit. Close to parks, universities, shopping, and dining. Strong rental history units are always occupied and lease quickly in this high-demand area. Current rents are below market, offering significant upside potential for the next owner. A standout feature: one of the few buildings in the area with a large off-street parking lot accommodating one car per unit, a major draw for tenants. Solid cash flow today with room to grow.


 

Interior Features

Bedrooms

Total Bedrooms1

Bathrooms

Total Baths1

Other Interior Features

Basement (Y/N)No
Foundation Dimensions49.10 x 71.3
FuelElectric, Natural Gas

General

AccessibilityNone
Additional Parcels Y/NNo
CityMinneapolis
ContingencyNone
CountyHennepin
Current UseResidential
DirectionsI-35W to E 11th St, east to Park Ave, south to E 15th St, east to 10th Ave S. Property on right.
Electric Expense1960
Fuel Expense6280
Garage Spaces0
Gross Income136800
HeatingBaseboard, Boiler
High School DistrictMinneapolis
Land Lease Y/NNo
Lender OwnedNo
LevelsTwo
Lot Size UnitsAcres
MaintenanceExpense1440
Net Operating Income123920
New ConstructionNo
Number Of Units Total12
Operating Expense12880
OwnerPaysGas, Repairs, Trash Collection, Water
PostalCityMinneapolis
Property TypeCommercial Sale
SewerCity Sewer/Connected
Standard StatusActive
Subdivision NameJ S & W Elliots Add
Tax Annual Amount$23,343
Tax Year2025
Tenant PaysEscalation
Trash Expense3000
UtilitiesElectric Separate
Water Sewer Expense4320
Year Built1968
Zoning DescriptionResidential-Multi-Family

Exterior

Building Area Total10,020 sqft
Foundation Area3,340 sqft
InclusionsBuilding, Land
Lot Dimensions75.10 X 145.00
Lot Size Area0 sqft
Parking FeaturesParking Lot, Paved Lot
Water SourceCity Water/Connected
Waterfront Y/NNo

Additional Details

Price History

Schools 

Elementary School N/A
Middle School N/A
High School N/A

  

Similar Properties

$1,300,000

1 Beds 1 Baths 10,020 SQFT 0.25 Acres
Type: Commercial

1500 10th Avenue S
Minneapolis, MN 55404

MLS#: 7090913
Ted Bergstrom
Ted Bergstrom
The Real Estate Advantage
Agent
Phone: 612.723.5444
Office: 952.224.8800