Kalie Normandin
MLS#7107359
STATUSActive
PROPERTY TYPECommercial - Business
SUBDIVISIONDeans Add
SCHOOLMinneapolis
Property Description
* Sale Price: Negotiable* Rare 60 Unit (3 Building) Brownstone Multifamily Portfolio* Located on a 0.49-acre site totaling approximately 21,344 sf* Corner of Lagoon & Humboldt, across from Lunds & Byerly's, near The Lakes, and next to the Midtown Greenway Trail* Longtime family-owned asset* 95% Occupancy - Desirable unit mix: (18) studios, (41) 1 bedrooms, (1) 2 bedroom.* 3 Parcels: 2870 (33-029-24-34-0014), 2882 (33-029-24-34-0016), land parcel between the buildings (33-029-24-34-0015)* Stabilized property with true value-add upside through rent growth, unit/common area improvements and management/operational efficiencies* Perfect 1031 Tax exchange and Investment * Opportunity to acquire three adjacent multifamily buildings in a single transaction (management efficiency)* Desirable Uptown/Lagoon Ave location with excellent access to nearby restaurant, retail, entertainment, parks & transit* Flexible zoning with 2870 Humboldt Avenue South zoned UN3 and 2876/2882 Humboldt Avenue South zoned RM1, allowing for continued multifamily use in an urban residential setting.
Property Features
Property Type: Commercial - Business
Fuel Type: Natural Gas
Heating: Boiler
Lot Size: 0.49 Acres
Taxes: $130,803
Year Built: 1915
Feature Descriptions
Current Use: Residential
Days on Site: 11
Foundation Size: 3611
Lot Dimensions: 128X168
Parcel#: 3302924340014
Parking: Parking Lot
Sale Includes: Building, Leases
Sewer: City Sewer/Connected
Units: 60
Utilities: Electric Common, Heating Common, Hot Water Common
Water: City Water/Connected
Local Schools
School District: Minneapolis
Listed By / Shown By
Listed By
Agency Name: RE/MAX Results
Agency Phone: 651-251-4800
Shown By
Agent Name: Kalie Normandin
Agent Phone: (218) 289-5054
Agency Title: LeBlanc Realty
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2870 & 2876 & 2882 Humboldt Avenue S | MLS# 7107359
This commercial property located at 2870 & 2876 & 2882 Humboldt Avenue S, Minneapolis, MN 55408 is currently listed for sale with an asking price of $1. & 2876 & 2882 Humboldt Avenue S is located within the Minneapolis school district. Search Minneapolis real estate on knormandin.leblancrealty.com today.