3848 Cedar Ave S
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3848 Cedar Ave S
10 Unit Apartment Building $1,000,000 ($100,000/Unit) Minneapolis, MN 55407
Investment Highlights
- Low historical turnover
- Impeccably well maintained
- Owned by the same family for over 50 years!
- Updated Kitchens and Bathrooms with 9/10 hardwood floors
Executive Summary
This pristine 10 unit brownstone has been lovingly owned & maintained by the same family for more than 60 years and offers a stable investment opportunity with minimal day-1 required maintenance.
Units have been updated over the past 15 years with new kitchens, bathrooms, electrical and plumbing. Mechanicals have been routinely maintained and preventative maintenance has been completed so investors can focus on management efficiency and bringing rents to market.
Separately metered for cooking gas / electric, investors can implement a “rationed utility billing system” (RUBS) for heating & water / sewer to further hedge their risk of utility inflation and increase income.
Units have been updated over the past 15 years with new kitchens, bathrooms, electrical and plumbing. Mechanicals have been routinely maintained and preventative maintenance has been completed so investors can focus on management efficiency and bringing rents to market.
Separately metered for cooking gas / electric, investors can implement a “rationed utility billing system” (RUBS) for heating & water / sewer to further hedge their risk of utility inflation and increase income.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Pro forma - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
| Price | $1,000,000 | Building Class | C |
| Price Per Unit | $100,000 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 9,657 SF |
| No. Units | 10 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1929 |
| Apartment Style | Low Rise | Parking Ratio | 0.41/1,000 SF |
| Price | $1,000,000 |
| Price Per Unit | $100,000 |
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 9,657 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1929 |
| Parking Ratio | 0.41/1,000 SF |
Unit Amenities
- Dishwasher
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | $912.50 | 600 - 650 |
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Walk Score ®
Very Walkable (79)
Bike Score ®
Very Bikeable (89)
PROPERTY TAXES
| Parcel Number | 11-028-24-11-0127 | Total Assessment | $1,051,000 (2023) |
| Land Assessment | $85,000 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $966,000 (2023) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
11-028-24-11-0127
Land Assessment
$85,000 (2023)
Improvements Assessment
$966,000 (2023)
Total Assessment
$1,051,000 (2023)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
zoning
| Zoning Code | R4 |
| R4 |
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3848 Cedar Ave S
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