For Sale: Minneapolis MLS# 6826518
Active
New Const
$2,300,000
Commercial: Other
30 br • 12 ba • Built 1925
10131 acres
MLS# 6826518
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Property Description
Investment opportunity. Six units, two buildings, all new with 5BRs, 2BA and Laundry in each unit. Highly marketable modern interior finishes Strong rental appeal in the Marcy-Holmes / University district. 814 & 816 6th Street SE: Common Lot Development. Both 814 and 816 6th Street SE exist on a single parcel under one PID and were developed as a Common Lot Development in the Marcy-Holmes neighborhood. Together, 814 & 816 6th Street SE form a unified six-unit multifamily asset on a single PID, built and renovated to modern 2020s standards. Between the two structures, nearly every system structural, mechanical, electrical, plumbing, exterior envelope, and interior finishes is new, code-compliant, and designed for long-term durability and ease of maintenance. The site now includes: One fully renovated, expanded triplex (814) and One slab-on-grade new construction triplex (816). A total of six modern, code-compliant residential units were created on the shared lot. Both properties were built to current building, mechanical, electrical, plumbing, zoning, and life-safety standards, including separate utility services, fire systems, and modern energy-efficient components. 814 6th Street SE – Full Gut Renovation & Triplex Conversion: 814 began as an older duplex and was transformed into a three-level triplex through a complete gut renovation and addition. Other than the foundation and the first- and second-floor exterior walls, the structure is essentially new construction. Full interior demolition and rebuild. Added a third story to convert the duplex into a triplex. Constructed a three-story treated-wood rear deck. * 816 6th Street SE – New Construction Slab-on-Grade Triplex (In final phase of completion). 816 was built as a brand-new slab-on-grade triplex, designed to complement 814 while offering fully modern construction and finishes. While layouts differ, the systems and interior standards match 814 to maintain continuity across the parcel. *Structural & Exterior:Ground-up slab-on-grade new construction. LP SmartSide exterior siding. New exterior paint. Pre-finished soffit & fascia. Architectural asphalt shingle roof. Batt + poly insulation package. Single-hung Vector windows, matching 814. Interior staircase access to each unit. *Mechanical, Electrical & Plumbing: New water and new sewer service runs. Three separate electrical services/meters (one per unit). Three independent forced-air heating and cooling systems (Magic-Pak) Three 40-gallon electric water heaters. All electric appliances (ranges, dryers, etc.), consistent with 814. New plumbing system throughout.* Interior Construction & Finishes: LVP flooring throughout. Kitchens and bathrooms identical in finish level to 814, including: Legacy soft-close cabinetry. Quartz countertops. Tile backsplash. Stainless steel appliances. Tile shower surrounds. New trim, interior doors, and full interior paint/enamel. Stackable washer/dryer hookups in each unit. *Both buildings offer: Separate utilities, Updated life-safety systems, Uniform design language and material quality, Low-maintenance exterior finishes.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$2,300,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1925
State:
MN
Property Style:
Other
Zip Code:
55414
Neighborhood/Area:
50
Subdivision Name:
Mill Cos Add To St Anthony Falls
Interior
Bedrooms:
30
Bathrooms:
12
Ceiling Height:
8-10
Refrigerators:
Six or More
Basement Details:
Crawl Space
Exterior
Stories:
Three Or More
Garage Spaces:
0
Air Conditioning:
Central Air, Zoned
Foundation Size:
2,024 ft2
Foundation Dimensions:
44x46 35x58
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Forced Air
Parking Features:
Other
Unit Amenities:
- Indoor Sprinklers
- Kitchen Center Island
Road Frontage:
City Street
Roof Details:
- Age 8 Years or Less
- Asphalt
Lot & Land
Acres:
10131
Geolocation:
44.985142, -93.24215
Inclusions:
Building, Land, Leases
Lot Dimensions:
66 x 165 x 51
Zoning:
Residential-Multi-Family
Schools
School District:
558
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
None
Annual Fuel Expense:
None
Annual Insurance Expense:
$9,000
Annual Maintenance Expense:
$2,400
Annual Trash Expense:
$3,600
Annual Water/Sewer Expense:
$2,400
Tenant Expenses:
Electricity, Gas, Heat
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$7,496
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$8,261
Income
Annual Gross Income:
$234,000
Rent
Annual Net Income:
$189,380
Units
Total Units:
6
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Morgan And Trust Realty.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.