Great Minneapolis Multi-Unit Investment Property Opportunities
18 September, 2007
(2) Comment
I continue to be amazed by the quality of the investment properties that are for sale in Minneapolis. Many of these are priced 10-20% below what they would have been priced at just 12-18 months ago.
Here are some examples:
- 30xx 3rd Ave South, Minneapolis, $324,000. 4-plex building, each unit has 3 bedrooms, 1 bath. It has updated kitchens, hardwood floors and bathrooms. All utilities are separated with newer furnaces and water heaters. This building should cash flow over $1500/month for a well qualified borrower!
- 27xx Blaisdell Ave South, Minneapolis, $499,000. 7-unit building. Most units have 1 bedroom, 1 bath. It has been exceptionally well maintained building by a caretaker that has lived there for 14 years! Even with owner-paid heat, this property cash flows almost $1000 per month.
- 36xx Elliot Ave South, Minneapolis, $300,000. 4 unit building that is currently bank-owned and vacant. It needs light renovation, but could be a gem as it has 2 bedroom units and all utilities are paid by tenants (4 boilers). Once repaired and rented, it could generate over $1100 per month.
These are just a couple of the outstanding opportunities in the investment property market right now. Don’t wait, call me now and discuss how you can get started.
Good Information! I think the real estate market is offering incredible investment opportunities and investors are making excellent profits from buying properties.
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just looking for some options in relation to multi units in minneapolis. My family currently owns a number of multi units in minneapolis but I, myself, have realized how important location truly is in realestate. People on the southside do not want to move to the north side; renting to section 8 tenants may be the closest thing guaranteed money but the likelihood of them taking care of the property is slim. Anyway, I want to relieve our work load and Im thinking that a 4 – 30 unit property in a great neighborhood will help us tremendously.
I also would like to know what you think about buying property near the U of M. Good turn around but tenant quality comes into question.