509 6th Street SE | 509 6th St SE
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509 6th Street SE 509 6th St SE
6 Unit Apartment Building $992,222 CAD ($165,370 CAD/Unit) 7.37% Cap Rate Minneapolis, MN 55414
Investment Highlights
- University of Minnesota Off-Campus Housing Area
Executive Summary
THIS TRIPLEX IS A RARE FIND WITH POTENTIAL TO INCREASE RENTAL INCOME WITHIN THE MARCY-HOLMES NEIGHBORHOOD - A POPULAR UNIVERSITY OF MINNESOTA OFF-CAMPUS HOUSING AREA! BUILT IN 1916, NEWLY REFINISEHD HARDWOOD FLOORS, INTRIOR PAINT, LOVELY SUNROOMS, LARGE DRIVEWAY FOR OFF-STREET PARKING, NEWER ROOF & GUTTERS - OVERALL IN GOOD CONDITION READY TO LEASE. ALL UNITS RENTED WITH STRONG POSSIBILITIES TO INCREASE RENT ROLL AFTER CURRENT LEASES EXPIRE. EACH UNIT COMES WITH APPLIANCES AND IN-UNIT LAUNDRY MACHINES. WALKABLE TO PARKS, RESTAURANTS AND THE UNIVERSITY OF MN. QUESTIONS CALL DAN O'BRIEN AT 612-562-3773
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,506
|
$13.77
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,506
|
$13.77
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$26,331
|
$3.64
|
| Net Operating Income |
$73,175
|
$10.13
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,506 |
| Annual Per SF | $13.77 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,506 |
| Annual Per SF | $13.77 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $26,331 |
| Annual Per SF | $3.64 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $73,175 |
| Annual Per SF | $10.13 |
Property Facts
Unit Amenities
- Dishwasher
- Washer/Dryer
- Heating
- Ceiling Fans
- Tile Floors
- Hardwood Floors
- Refrigerator
- Range
- Tub/Shower
- Sunroom
- Yard
- Vinyl Flooring
- Window Coverings
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 6+2 | 1 | - | 3,000 |
| 3+1 | 2 | - | 1,600 |
| 2+1 | 3 | - | 1,225 |
1 of 1
Walk Score ®
Very Walkable (83)
Bike Score ®
Biker's Paradise (99)
zoning
| Zoning Code | Multi-Family |
| Multi-Family |
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509 6th Street SE | 509 6th St SE
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