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$900,000
Est. payment /mo
5 Beds
6 Baths
6,098 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 6,098 sqft
Price per Sqft $147
Subdivision Motor Line Add
MLS Listing ID 6696001
Bedrooms 5
Year Built 1960
Annual Tax Amount $10,760
Lot Size 6,098 Sqft
Acres 0.14
Lot Dimensions 46' x 128'
Property Description
SELLER FINANCING AVAILABLE w/ the following terms: 25% down, 5.0% interest (interest-only), on a seven-year term. Fantastic investment opportunity to buy an apartment with seller-financing in the heart of Lyn-Lake! This fully renovated six-unit apartment at 3029 Garfield offers modern, updated units with leases running through Summer of 2025 – one unit has been left vacant to accommodate on-site showings. The unit mix consists of 1 x studio, and 5 x one-bedrooms. Tenants enjoy the convenience of mobile-friendly laundry and eight dedicated parking spaces. The property generates over $7,300/month, which includes revenue from rent, parking, pet fees, RUBs, and laundry – with the seller financing terms, this equates to a cash-on-cash return of over 10%! A turnkey investment in one of Minneapolis's most popular rental areas—this is an income-producing property you won't want to miss!
Location
State MN
County Hennepin
Community Motor Line Add
Direction North on Lyndale, Right on 31st, Left on Garfield
Interior
Heating Boiler
Exterior
Parking Features Parking Lot
Utilities Available Electric Common, Electric Separate, Heating Common, Hot Water Common
Accessibility None
Building
Water City Water/Connected
Others
Senior Community No
Tax ID 0302824220064
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Listed by Compass
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