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31763352
31763351

814 6th St SE, Minneapolis, MN 55414

MM
MN 40282274
Morgan and Trust Realty
Listed by Morgan and Trust Realty
$2,300,000
141 days on market
Updated 36 days ago

814-816 6th St SE

Details
Property Type Multifamily
Sub Type Student Housing
Units 6
Beds 30
Pro-Forma Cap Rate 7.73%
Pro-Forma NOI $177,740
Broker Co-Op Yes
Year Built 2025
Year Renovated 2025
Buildings 2
Stories 3
Zoning Multi Family
Occupancy Date 01/31/2026

Multifamily | 6 Units | $383,333/unit

Marketing description

Six units, two buildings, all new with 5BRs, 2BA and Laundry in each unit. 814 6th is fully leased for $9250 month. 816 6th Property is currently being advertised for lease at $3000-3250 per unit while in final stages of completion. Highly marketable modern interior finishes Strong rental appeal in the Marcy-Holmes / University district. Property summaries and estimated financials. Sq Footage size if for both properties, 814 is 4,893 and 816 is 5088 sq ft.

814 & 816 6th Street SE: Common Lot Development. Both 814 and 816 6th Street SE exist on a single parcel under one PID and were developed as a Common Lot Development in the Marcy-Holmes neighborhood. Together, 814 & 816 6th Street SE form a unified six-unit multifamily asset on a single PID, built and renovated to modern 2020s standards. Between the two structures, nearly every system structural, mechanical, electrical, plumbing, exterior envelope, and interior finishes is new, code-compliant, and designed for long-term durability and ease of maintenance. The site now includes: One fully renovated, expanded triplex (814) and One slab-on-grade new construction triplex (816). A total of six modern, code-compliant residential units were created on the shared lot. Both properties were built to current building, mechanical, electrical, plumbing, zoning, and life-safety standards, including separate utility services, fire systems, and modern energy-efficient components. 814 6th Street SE – Full Gut Renovation & Triplex Conversion: 814 began as an older duplex and was transformed into a three-level triplex through a complete gut renovation and addition. Other than the foundation and the first- and second-floor exterior walls, the structure is essentially new construction. Full interior demolition and rebuild. Added a third story to convert the duplex into a triplex. Constructed a three-story treated-wood rear deck. * 816 6th Street SE – New Construction Slab-on-Grade Triplex (In final phase of completion). 816 was built as a brand-new slab-on-grade triplex, designed to complement 814 while offering fully modern construction and finishes. While layouts differ, the systems and interior standards match 814 to maintain continuity across the parcel. *Structural & Exterior:Ground-up slab-on-grade new construction. LP SmartSide exterior siding. New exterior paint. Pre-finished soffit & fascia. Architectural asphalt shingle roof. Batt + poly insulation package. Single-hung Vector windows, matching 814. Interior staircase access to each unit. *Mechanical, Electrical & Plumbing: New water and new sewer service runs. Three separate electrical services/meters (one per unit). Three independent forced-air heating and cooling systems (Magic-Pak) Three 40-gallon electric water heaters. All electric appliances (ranges, dryers, etc.), consistent with 814. New plumbing system throughout.* Interior Construction & Finishes: LVP flooring throughout. Kitchens and bathrooms identical in finish level to 814, including: Legacy soft-close cabinetry. Quartz countertops. Tile backsplash. Stainless steel appliances. Tile shower surrounds. New trim, interior doors, and full interior paint/enamel. Stackable washer/dryer hookups in each unit. *Both buildings offer: Separate utilities, Updated life-safety systems, Uniform design language and material quality, Low-maintenance exterior finishes.

Investment highlights

814 6th is fully leased for $9250 month. 816 6th Property is currently being advertised for lease at $3000-3250 per unit while in final stages of completion. All income and expenses are estimated based off of other properties of similar size. Rental rate in area ranges from $600-800 bedroom. At $3250 month per unit: NOI, CAP and DSCR all strong.

Listing Contacts

MM
MN 40282274
Morgan and Trust Realty
Listed by Morgan and Trust Realty

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Additional Information

Name
Martin Morgan
License
40282274
Brokerage
Morgan and Trust Realty, LLC
Brokerage Phone
6124325451
Title
Marty Morgan
Brokerage Address
1711 County B Road West
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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