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34395607
34395633

4220 4th Street Northeast, Minneapolis, MN 55421 For Sale

NS
MN 40691605
MRG Realty Partners
MRG Realty Partners
Listed by MRG Realty Partners
$615,000
6 days on market
Updated 6 days ago

4220 4th St NE - Columbia Heights

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 4,450
Net Rentable (SqFt) 4,450
Units 5
NOI $46,962
Occupancy 100%
Class C
Year Built 1961
Buildings 1
Acreage 0.250
Parking Spaces 6 spaces
Parking per 1,000 SqFt 1.35
Investment Type Stabilized

5 Units | Proactively Maintained | Stabilized

Marketing description

Proactively well maintained five-unit building in the western side of Columbia Heights’ Huset Park neighborhood. Easy access to NE Minneapolis amenities & I-694 via University Ave. The property is only blocks from Huset Park & numerous local neighborhood businesses on 40th Ave NE. The unit mix is one large 3BR plus four 2BR units, currently 100% occupied. Detail-oriented owners have kept this a solid & stable building. Major systems are already handled include: boiler (2022), water heater (2021) & updated electrical. Six off-street parking spaces. A new owner or manager can step into place & focus on cash flow instead of planning major repairs, on a building that has been cared for the right way by hands-on ownership. Great fit for an investor who wants a stable, fully occupied property that has actually been maintained.

Investment highlights

Proactively well maintained five-unit building in the western side of Columbia Heights’ Huset Park neighborhood. Easy access to NE Minneapolis amenities & I-694 via University Ave. The property is only blocks from Huset Park & numerous local neighborhood businesses on 40th Ave NE. The unit mix is one large 3BR plus four 2BR units, currently 100% occupied. Detail-oriented owners have kept this a solid & stable building. Major systems are already handled include: boiler (2022), water heater (2021) & updated electrical. Six off-street parking spaces. A new owner or manager can step into place & focus on cash flow instead of planning major repairs, on a building that has been cared for the right way by hands-on ownership. Great fit for an investor who wants a stable, fully occupied property that has actually been maintained. Contact David Dirkers at 651-998-9380 or [email protected] for more information.

Listing Contacts

NS
MN 40691605
MRG Realty Partners
MRG Realty Partners
Listed by MRG Realty Partners

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$46,962.00
$3,913.50/mo

Valuation Metrics

0
DSCR
7.64%
Cap Rate
7.64%
ROI

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Additional Information

Name
Nate Schammel
License
40691605
Brokerage Phone
6519554255
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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