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$585,000

12 Beds 4 Baths 4,196 SQFT 0.12 Acres
Type: Multi-Family

1016 Newton Avenue N
Minneapolis, MN 55411

MLS#: 7135334
Ted Bergstrom
Ted Bergstrom
The Real Estate Advantage
Agent
Phone: 612.723.5444
Office: 952.224.8800
Presented by: RE/MAX Results

Property Description

 

Massive hard to find Cash flowing 4 unit building featuring 12 beds and 4 baths in Near North, perfect for the owner occupier to supplement living expenses or the investor alike with the building's fully occupied rent total potential sitting right around $100,000 annually. All 4 units feature nice newer eat in kitchens with stone countertops, 3 nice sized bedrooms, newer baths, and more. Each unit also has separate furnaces and water heaters, plus there is a large parking area out back for off street parking.


 

Interior Features

Bedrooms

Total Bedrooms12

Bathrooms

Total Baths4

Other Interior Features

Above Grade Finished Area4,196 sqft
BasementBlock
Basement (Y/N)Yes
Below Grade Finished Area0 sqft
FuelNatural Gas

General

AccessibilityNone
Additional Parcels Y/NNo
CityMinneapolis
ContingencyNone
CountyHennepin
DirectionsFrom HWY 55, north on Penn, right on oak park, property is on the right.
Electric Expense0
Fuel Expense0
Garage Spaces0
Gross Income92160
HeatingForced Air
High School DistrictMinneapolis
Insurance Expense7821.96
Land Lease Y/NNo
Lender OwnedNo
LevelsTwo
Living Area4,196 sqft
Lot Size UnitsSquare Feet
MaintenanceExpense0
New ConstructionNo
Number Of Units Total4
Operating Expense18220.64
OwnerPaysInsurance, Grounds Care, Snow Removal
PostalCityMinneapolis
Property SubtypeFourplex
Property TypeResidential Income
SewerCity Sewer/Connected
Standard StatusActive
Subdivision NameOak Park Add
Tax Annual Amount$0
Tax Year2024
Tenant PaysBroadband, Cable TV, Electricity, Gas, Telephone
Trash Expense1800
Water Sewer Expense18000
Year Built1921
Zoning DescriptionResidential-Multi-Family

Exterior

Building Area Total4,196 sqft
Foundation Area2,112 sqft
Lot Dimensions42.05x126.8
Lot Size Area5,331 sqft
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

$585,000

12 Beds 4 Baths 4,196 SQFT 0.12 Acres
Type: Multi-Family

1016 Newton Avenue N
Minneapolis, MN 55411

MLS#: 7135334
Ted Bergstrom
Ted Bergstrom
The Real Estate Advantage
Agent
Phone: 612.723.5444
Office: 952.224.8800