Minnesota Investment Real Estate

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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.

Scott Ficek is a Realtor with Keller Williams Integrity in Minneapolis and helps new and seasoned investors buy and own investment real estate.  He owns and manages almost 30 investment property units from single to multi-family.  Find his blog at www.minnesotainvestmentrealestate.com and his website can be found at www.mnirea.com.

This entry was posted on Tuesday, September 18th, 2007 at 3:14 pm and is filed under Minneapolis, Flipping Property, Buying Property. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.