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2204 Emerson AVE N Minneapolis, MN 55411
6,098 Sqft Lot
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision Bakers Amd To Highland Park
MLS Listing ID 7161032
Year Built 1926
Annual Tax Amount $7,426
Tax Year 2026
Contingent None
Lot Size 6,098 Sqft
Lot Dimensions 43x140
Property Description
Renovated five-unit apartment building featuring all two-bedroom, one-bath units. Taken down to the studs in 2023 with $386,042 in documented improvements, including a new 30-year roof, PEX plumbing, new gas lines to each unit, six-zone boiler, updated electrical, new windows, granite countertops, new cabinetry, stainless steel appliances, and LVP flooring. Security features include hardwired smoke and CO detectors, digital keypad entry, an alarmed steel rear door, and security cameras. Gas and electric are separately metered and tenant-paid; water, sewer, and trash are recovered through RUBS. Four garage stalls and on-site laundry. Minneapolis Tier 1 rental license. **Investors:** Projected pro forma NOI of $55,600, reflecting an 8.0% cap rate. **Owner-users:** Former group home use, well-suited for a housing program operator. Metro Transit Route 5 at the corner and METRO D Line two blocks south. Full offering memorandum available.
Location
State MN
County Hennepin
Zoning Residential-Multi-Family
Interior
Heating Boiler
Inclusions Building
Fireplace No
Appliance Range, Refrigerator, Stainless Steel Appliances
Exterior
Parking Features Detached Garage
Garage Spaces 4.0
Utilities Available Electric Separate, Heating Separate
Present Use Residential
Building
Foundation 1591
Sewer City Sewer/Connected
Water City Water/Connected
New Construction false
Schools
School District Minneapolis
Listed by Joe Allen • Pemberton RE
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