2541 3rd Avenue S Minneapolis, MN 55404 (Sold)

$500,000 3 3
Price Bedrooms Bathrooms
Price did not change before being sold on 1/17/2020
Status: Sold

MLS #: 5317648

Other Sq. Feet: 3260
Date Sold: 1/17/2020 Lot Size: 0.14 Acres
Neighborhood: See All Properties for Sale in Whittier
DESCRIPTION
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Priced to sell! This home is a large historic beauty and provides amazing cash flow for an investor or owner occupant! Two 3-Bedroom Units. Unit #2 is rented for $2,325 per month. Unit #1 is recently renovated and market rent is estimated at $2,700 per month for a combined total of $60,300 annual rental income! Over $50k in updates - new boiler, new water heater, new windows, new kitchen counters, cabinets, appliances, fresh paint, buffed floors - this house shines! Hugely desirable rental area in the Whittier neighborhood being located directly across from the Minneapolis College of Art and Design (MCAD) and Minneapolis Institute of Art (MIA). Original floors, amazing woodwork, beautiful brick and large living spaces. New windows, Owner is agent. Buyers to verify all measurements.
ARCHITECTURE
Bedrooms: 3
Bathrooms: 3
Year Built: 1900
Stories: 2
Construction: Brick/Stone
Construction Status: Previously Owned
Foundation Size: 1740
Basement: Unfinished
FEATURES / AMENITIES
Unit 1: 3 beds, 1 bath. Rent: $26400
Unit 2: 3 beds, 2 baths. Rent: $27900
Heating: Radiant
Fuel: Natural Gas
SQUARE FOOTAGE
Finished Sq. Ft.
Above Grade 3260
Below Grade 0
Total 3260
PROPERTY FEATURES
Lot Size: 0.14 Acres / 6098.4 Sq. Ft.
Lot Dimensions: 50x128
Water: City Water/Connected
Sewer: City Sewer/Connected
COMMUNITY, TAX AND RELATED INFO
School District: Minneapolis
County: Hennepin
Tax Amount: $5, 173.00
Tax Year: 2019
Annual Gross Income: 54300.00
Annual Insurance Expense: 1800
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Listing Information Last Updated 1/20/2020
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Property Summary

2541 3rd Avenue S
Minneapolis, MN 55404

MLS®: 5317648

List Price: $500,000

Description:

MLS # 5317648: This property at 2541 3rd Avenue S, Minneapolis, MN 55404 is located in the Whittier subdivision and is listed for $500,000. MLS # 5317648 has been on the market for 109 days.