Steven Pierce 6123252476

1802 11th Ave S 6 Unit Apartment Building $2,637,960 CAD ($439,660 CAD/Unit) Minneapolis, MN 55404

INVESTMENT HIGHLIGHTS

WALKING DISTANCE TO US BANK STADIUM ! THIS IS THE FIRST BUILDING OVER THE 11TH AVE BRIDGE. COULD BE IDEAL FOR AN OWNER OCCUPANT TO LIVE FOR FREE !
IT IS SET UP SO IT CAN BE CONDOMINIUMS BUT SHORT TERMS STAYS ARE MOST LIKELY THE BEST USE.
The entire top of the Parking Canopy is covered with solar panels.

THIS IS A ONE OF A KIND DESIGNER PROJECT; THE OWNER /Contractor DID MUCH OF THE WORK HIMSELF.
$100,000 of furniture included in the sale for short terms stays.
CONTRACT FOR DEED TERM AVAILABLE.

EXECUTIVE SUMMARY

THIS IS BASICALLY A BRAND NEW BUILDING WITH A BEAUTIFUL BROWNSTONE SHELL !
A return to the pre-covid use of short term stays will be the likely course of action for a new owner. The income was up to $229,000. There are many short term stay platforms now; not just AIRBNB. The current leases are month to month.
CONTRACT FOR DEED TERMS considered with sizable down payment.
The owner started out with 12 worn out apartments, gutted the entire building, and put in 6 brand new apartments / condominiums. The units are set up so they can be condos with the values showing up as $450,000 to $480,000.
It is very energy efficient; it was insulted with spray foam and has solar panels.

Stay Chateau OM 2024 sfs

FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access	ANNUAL (CAD)	ANNUAL PER SF (CAD)
Gross Rental Income	$99,999	$9.99
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$99,999	$9.99
Taxes	$99,999	$9.99
Operating Expenses	$99,999	$9.99
Total Expenses	$99,999	$9.99
Net Operating Income	$99,999	$9.99

PROPERTY FACTS

Price	$2,637,960 CAD
Price Per Unit	$439,660 CAD
Sale Type	Investment
No. Units	6
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.23 AC
Building Size	8,841 SF
Average Occupancy	100%
No. Stories	3
Year Built/Renovated	1902/2017
Parking Ratio	0.68/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	MF

UNIT AMENITIES

Washer/Dryer
Yard
Double Pane Windows

Patio
Wheelchair Accessible (Rooms)

SITE AMENITIES

Laundry Facilities
Picnic Area

Furnished Units Available

UNIT MIX INFORMATION

DESCRIPTION	NO. UNITS	AVG. RENT/MO	SF
2+2	4	-	-
1+1	1	-	-
Studios	1	-	-

Walk Score®

Very Walkable (77)

Transit Score®

Excellent Transit (74)

Bike Score®

Biker's Paradise (96)

PROPERTY TAXES

Parcel Number	26-029-24-34-0049	Total Assessment	$1,708,106 CAD (2023)
Land Assessment	$187,920 CAD (2023)	Annual Taxes	-$1 CAD ($0.00 CAD/SF)
Improvements Assessment	$1,520,186 CAD (2023)	Tax Year	2025

MAP

ADDITIONAL PHOTOS

Building Photo

Bathroom w coins in floor !

Solar Panels & view from bldg

Building Photo

At night with Downtown Skyline

Interior Photo

Multi Bed Option

DR with sliding door

Interior Photo

Studio with murphy bed up

Interior Photo

Hall to Lower Level

Studio with Murphy Bed Down

Transom Windows

Above Front Door

Platform Lift

Rear Entrance

Covered Parking 5 & 1 outside canopee

Listing ID: 29198999
Date on Market: 2023-08-05
Last Updated: 2025-04-14
Address: 1802 11th Ave S, Minneapolis, MN 55404

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1802 11th Ave S 6 Unit Apartment Building $2,637,960 CAD ($439,660 CAD/Unit) Minneapolis, MN 55404

INVESTMENT HIGHLIGHTS

EXECUTIVE SUMMARY

ATTACHMENTS

FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access

PROPERTY FACTS

AMENITIES

UNIT AMENITIES

SITE AMENITIES

UNIT MIX INFORMATION

PROPERTY TAXES

MAP

ADDITIONAL PHOTOS

Listing ID: 29198999

Date on Market: 2023-08-05

Last Updated: 2025-04-14

Address: 1802 11th Ave S, Minneapolis, MN 55404