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Alexis Peters
(218) 850-1205
Counselor Realty, Inc |
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3033 15th Avenue S, Minneapolis, MN 55407
STATUS: Active
PROPERTY TYPE: Commercial - Business
SUBDIVISION: Williams Add
SCHOOL: Minneapolis
Property Description
Well-maintained 8-unit apartment building offering consistent in-place income and long-term ownership stability. Fully occupied with a mix of one-bedroom and studio units, generating over $100,000 / year in rental income.This property is enrolled in the Minneapolis 4D Affordable Housing Program, providing a significant property tax reduction and enhancing overall cash flow ? an attractive feature for investors seeking reliable returns.Recent ownership has focused on maintaining a clean, functional property with stable tenancy, making this a true turnkey opportunity. Building features include coin-operated laundry, separate electric, and practical unit layouts that support consistent occupancy.Additional upside potential exists through continued rent optimization and operational efficiencies.Also available is the adjacent lot at 3037 15th Ave S, offering potential for future development, expanded amenities, or added income (buyer to verify).Ideal for investors seeking: Strong day-one cash flow, tax-advantaged ownership and a stabilized asset with operational upside.Consider purchasing the vacant lot that is available next door.
Property Features
Property Type: Commercial - Business Cooling: Wall Unit(s) Fuel Type: Natural Gas Heating: Boiler, Hot Water, Radiator Lot Size: 0.17 Acres Roof Type: Flat, Rubber Stories: 2.0 Taxes: $2,329 Year Built: 1971
Feature Descriptions
Appliances: Gas Water Heater, Range, Refrigerator
Basement: None
Current Use: Residential
Days on Site: 43
Exterior: Frame
Foundation Size: 2384
Lot: Tree Coverage - Light
Lot Dimensions: 60 x 123
Owners Expense: Gas, Heat, Hot Water, Insurance, Grounds Care, Repairs, Sewer, Snow Removal, Taxes, Trash Collection, Water
Parcel#: 0202824120153
Parking: Concrete
Road Frontage: City Street
Sale Includes: Building, Land, Leases
Sewer: City Sewer/Connected
Tenant Expenses: Electricity
Units: 8
Utilities: Electric Separate, Heating Common, Hot Water Common
Water: City Water/Connected
Local Schools
School District: Minneapolis
Listed By / Shown By
Agency Name: Peritus Real Estate
Agency Phone: 612-554-7794
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Agency License Information: Counselor Realty, Inc. is licensed in Minnesota and Wisconsin; Counselor Realty, Inc. of Alexandria is licensed in Minnesota; Counselor Realty Detroit Lakes, LLC is licensed in Minnesota; Counselor Realty of Rochester is licensed in Minnesota; Counselor Realty of Victoria, LLC is licensed in Minnesota; Counselor Realty of Brainerd is licensed in Minnesota.
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3033 15th Avenue S | MLS# 7049047
This commercial property located at 3033 15th Avenue S, Minneapolis, MN 55407 is currently listed for sale with an asking price of $775,000. 15th Avenue S is located within the Minneapolis school district. Search Minneapolis real estate on apeters.counselorrealty.com today.