729 E 16th St
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729 E 16th St
12 Unit Apartment Building For Sale Minneapolis, MN 55404
Investment Highlights
- Updated Electrical, plumbing, common areas
- Updates include new cabinets, granite, countertops, flooring, appliances, and bathrooms
- All units have been updated over the past 15 years
- Short Sale opportunity
Executive Summary
Electrical, plumbing, common areas, and all units have been updated over the past 15 years.
Updates include new cabinets, granite, countertops, flooring, appliances, and bathrooms.
The property was previously being used as a short-term rental for business and medical professionals and it is now operating as a traditional apartment building.
This is an ideal candidate for the Minneapolis 4-D tax program, which offers incentives of up to 80% reduction of property taxes, solar energy initiatives and grants, and more if accepted.
Updates include new cabinets, granite, countertops, flooring, appliances, and bathrooms.
The property was previously being used as a short-term rental for business and medical professionals and it is now operating as a traditional apartment building.
This is an ideal candidate for the Minneapolis 4-D tax program, which offers incentives of up to 80% reduction of property taxes, solar energy initiatives and grants, and more if accepted.
Data Room Click Here to Access
- Operating and Financials
- Third Party Reports
- Title and Insurance
- Miscellaneous
Property Facts
| Sale Type | Investment | Building Class | C |
| Sale Conditions | Short Sale | Lot Size | 0.20 AC |
| No. Units | 12 | Building Size | 7,952 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1962/2011 |
| Apartment Style | Low Rise | Parking Ratio | 1.51/1,000 SF |
| Sale Type | Investment |
| Sale Conditions | Short Sale |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 7,952 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1962/2011 |
| Parking Ratio | 1.51/1,000 SF |
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 11 | $972.50 | 700 |
| Studios | 1 | $735.00 | 500 |
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Walk Score ®
Very Walkable (80)
Transit Score ®
Excellent Transit (77)
Bike Score ®
Biker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 26-029-24-32-0041 | Improvements Assessment | $1,259,300 |
| Land Assessment | $221,700 | Total Assessment | $1,481,000 |
PROPERTY TAXES
Parcel Number
26-029-24-32-0041
Land Assessment
$221,700
Improvements Assessment
$1,259,300
Total Assessment
$1,481,000
zoning
| Zoning Code | R6 (BFC6 / Corridor 6 Built Form Overlay District DP / Downtown Parking Overlay District DT2 / Downtown Destination District) |
| R6 (BFC6 / Corridor 6 Built Form Overlay District DP / Downtown Parking Overlay District DT2 / Downtown Destination District) |
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729 E 16th St
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