Triplex | 620 S 9th St
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Triplex 620 S 9th St
3 Unit Apartment Building $1,278,378 CAD ($426,126 CAD/Unit) 8.26% Cap Rate Minneapolis, MN 55404
Investment Highlights
- Modern finishes and gas appliances.
- Building is grandfathered to be 100% investment opportunity.
- Full basement with future conversion opportunity.
- Great STR for historical events and sports events.
Executive Summary
Welcome to this unique and historic Elliott Park Brownstone located in the heart of downtown Minneapolis. This stunning property offers a rare opportunity to own a fully functioning short term rental business with two, 2-bedroom units and one, 1-bedroom unit, each with a 4.8 star rating on Air BNB. The property features a rooftop deck with sweeping views of the city (unit 3), perfect for entertaining or relaxing after a long day. The basement has the potential to be converted into a fourth rental unit, providing even more income potential for the savvy investor. Enjoy the privacy of your own backyard oasis, a rare find in the bustling downtown area. With three off-street parking spaces, parking will never be an issue for you or your guests. This brownstone underwent a full gut remodel in 2008, blending modern amenities with historic charm. Walk to US Bank Stadium, theaters, restaurants, and more from this ideal location. Don't miss your chance to own this one-of-a-kind property in a prime downtown location. FOR ALL INQUIRES - PLEASE CONTACT BRIAN LENEWEAVER (612)584-4008!!!
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| 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
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,278,378 CAD | Property Subtype | Apartment |
| Price Per Unit | $426,126 CAD | Apartment Style | Low Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 8.26% | Lot Size | 0.06 AC |
| Sale Conditions | High Vacancy Property | Building Size | 3,052 SF |
| Gross Rent Multiplier | 10.45 | No. Stories | 3 |
| No. Units | 3 | Year Built/Renovated | 1886/2008 |
| Property Type | Multifamily |
| Price | $1,278,378 CAD |
| Price Per Unit | $426,126 CAD |
| Sale Type | Investment |
| Cap Rate | 8.26% |
| Sale Conditions | High Vacancy Property |
| Gross Rent Multiplier | 10.45 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.06 AC |
| Building Size | 3,052 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1886/2008 |
Unit Amenities
- Air Conditioning
- Yard
- Patio
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Walk Score ®
Very Walkable (87)
Transit Score ®
Excellent Transit (82)
Bike Score ®
Biker's Paradise (97)
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Triplex | 620 S 9th St
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