Minneapolis, MN 55428

$2,125,000

Property Type: Commercial Bedrooms: 3 Baths: 2 Square Footage: 22,000 Lot Size (sq. ft.): 59,677 Status: Closed

Current Price: $2,125,000 List Date: 2/26/2026 Last Modified: 5/05/2026

Overview

Description

Entire complex of 16 Townhomes offered, all large 3BR 3-Level units with identical layout, including in-unit laundry, central A/C and large backyard. These units are very attractive to renters. Tenants pay separately metered gas and electric. Tenants pay a majority of Water and Trash via Utility RUBS addendum. All 16 units are separate PIDs and so an HOA could be implemented; the units could be sold individually as townhomes, or retained as a multi-family rental complex. Agent is Owner.

Listing Details MLS# 7027214

General Property Information

Lot Measurement: Acres
Management Company Name: EIG Property Management
Multiple PIDs?: Yes
Other Parking Spaces: 16
Owner Occupied: No
Waterfront YN: No
Year Built: 1962
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 11000
For Sale or Lease: For Sale
Acres: 1.37
Lot Dimensions: 240X490
Assessment Pending: Unknown

Property Features

Accessible: None Air Conditioning: Central Air Appliances: Dishwasher; Microwave; Range; Refrigerator Assumable Loan: Yes w/ Qualifying Basement: Partially Finished CMU Style: Apartments/Multi Family; Common Wall Construction Status: Previously Owned Current Use: Residential Existing Financing: Conventional Exterior: Brick Veneer Financing Terms: Conventional Foundation: Combination Fuel: Natural Gas Heating: Forced Air Loan Terms: Assumable; Cash; Conventional On Site Utilities: Electric Separate; Heating Separate Parking Characteristics: Parking Lot Rental License Type: Standard Sewer: City Sewer/Connected Stories: Two Tenant Pays: Electricity; Gas; Heat; Trash Collection; Water Water: City Water/Connected

Contract Information

Off Market Date: 2026-05-05
Closed Date: 2026-05-01
Sales Close Price: 2125000
Contingency: None
ListPrice: 2300000
Owner is an Agent?: Yes
Auction?: No

Location Tax and Other Information

Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55428
Complex/Dev/Subdivision: Lincoln Manor

Additional Parcels Information

Property ID #2: 0511821210130
Property ID #3: 0511821210129,0511821210128,0511821210127,0511821210126,0511821210125,0511821210124,0511821210123,0511821210122,0511821210121,0511821210119,0511821210118,0511821210117,0511821210116,0511821210131

Assessments

Tax With Assessments: 35039

More Information

Building Information

Building Finished SqFt: 22000
Building SqFt: 22000

Income and Expenses

Annual Gross Expenses: 180000
Annual Gross Income: 368556
Annual Net Income: 180000
Total Annual Expenses: 199269

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 05/118/21
Section#: 05
Township#: 118

Sale Options

Sale Includes: Building, Land

Unit 1

Unit Number: 16
Monthly Rent: 1732
Full Baths: Yes
Half Baths: Yes
Total Bathrooms: 2
Total Bedrooms: 3
Level: Multi-Level
Unit Total SqFt: 1364
Leased?: Yes
Lease Expiration Date: 2025-06-30

Unit 3

No. of 3 Bedroom Units: 16

Unit Details

Total Units: 16

Listing Office: Manarola LLC

Last Updated: May - 05 - 2026

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.

, Minneapolis, MN 55428 (MLS# 7027214)