Address
2050 W Broadway Avenue Minneapolis, MN
Price
$ 424,900
Property Attributes
  • ML#5349456
  • TypePending
  • CountyHENNEPIN
  • CityMinneapolis
  • AreaForest Heights
  • NeighborhoodJordan
  • Zip55411
  • StyleResidential Income
  • Year Built1904
  • Taxes2939
  • Price$ 424,900
  • Bedrooms8
  • Full Bathrooms2
  • Half Bathrooms0
  • Sqr Footage3588
  • Lot Size5,663 SqFt
Listing Provided Courtesy Of:
Edina Realty, Inc.
Property Description

In the heart of Broadway & Penn. Come see all the new development that surround this Triplex. The building has been gutted and re-built; EVERYTHING IS NEW - Electrical, Plumbing, Duct Work, Water Heaters, HVAC, Framing, Insulation, Drywall, leveling of floors, Windows, bathrooms, kitchens, finish work, doors, AC and the list goes on. All units have separate front and back entrances, separate HVAC, separate utilities and a shared basement area for storage and laundry. 3 furnaces. 3 water heaters. 3 central air units. Common laundry area in basement. Storage space in basement. APPLIANCES ARE BEING INSTALLED. Sprinkler system in building. Based on the average rents and estimation for additional income, CAP Rates are coming in at 8.03% and Cash on Cash is 13.90% with 25% down at a rate of 4.5%. With tax breaks, that's a 17.24% return. These are the best returns I've seen in this market.

Price History
7/13/2020 Listed $474,900
7/28/2020 4% - $459,900
9/14/2020 3% - $449,900
9/24/2020 6% - $424,900

General Features

Construction Materials Vinyl Siding, Brick/Stone
Contingency None
Heating Forced Air
New Construction No
Parking Features Detached
Property Type Residential Income
Sewer City Sewer/Connected
Standard Status Pending
Subdivision Name Forest Heights
Total Units 3

Interior Features

Basement Full, Daylight/Lookout Windows
Below Grade Finished Area 1204
Fireplace Y/N No

Exterior Features

Lot Dimensions 45x125
Lot Size Area 0.13
Lot Size Units Acres
Water Source City Water/Connected

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 55411

Price
AVG $220K
$420K
Taxes
AVG $2,159
$2,939
Visits
AVG 54
157
Year Built
AVG 1931
1904
Walkscore
AVG 65
73
Data Provided by Walkscore ® not using MLS data