$2,700,000
Minneapolis, MN 55414
MLS# 6610616
Status: Closed
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Property Description
We are pleased to offer a recently developed 26 room, 56-60 bed capacity Multifamily and Special Use building For Sale at the University of Minnesota. Excellent like-new condition inside and out with huge renovations & improvements in 2018 including all new systems and an entire 3rd level added. This property has a communal living setup with 1 bedroom units which can accommodate 2 beds each + excellent common area amenities. This is truly a turn-key opportunity for a new Owner who can offer move-in ready units. The Seller has beds for each room which can be part of the sale (~$60k value). Two units on the 1st floor have restrooms in the unit, all other rooms share large recently renovated communal restrooms on each floor with 3 showers and multiple stalls. Perfect for a communal living use such as mental health/rehabilitation or individual room rentals for student or market rate housing. Convenient Dinkytown location.
Details
Maps
Contract Information
Digitally Altered Photos: No
Owner is an Agent?: No
Auction?: No
Status: Closed
Off Market Date: 2024-10-01
Current Price: $2,700,000
Closed Date: 2024-09-27
Sales Close Price: 2700000
Contingency: None
ListPrice: 2700000
List Date: 2024-10-01
Office/Member Info
Association: MAAR
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 19
Year Built: 1952
Yearly/Seasonal: Yearly
Zoning: Business/Commercial, Residential-Multi-Family
Lot Dimensions: 165x115
Acres: 0.44
Foundation Size: 14592
Garage Stalls: 0
For Sale or Lease: For Sale
Assessment Pending: Unknown
Location, Tax and Other Information
Legal Description: BLOCK 001 ST ANTHONY FALLS LOT 5 AND NWLY 49 1/4 FT OF LOT 4
Listing City: Minneapolis
Map Page: 106
Municipality: Minneapolis
School District: Minneapolis
School District Phone: 612-668-0000
Zip Plus 4: 1489
Property ID Number: 2402924310034
Tax Year: 2023
Tax Amount: 24651
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No
Directions & Remarks
Public Remarks: We are pleased to offer a recently developed 26 room, 56-60 bed capacity Multifamily and Special Use building For Sale at the University of Minnesota. Excellent like-new condition inside and out with huge renovations & improvements in 2018 including all new systems and an entire 3rd level added. This property has a communal living setup with 1 bedroom units which can accommodate 2 beds each + excellent common area amenities. This is truly a turn-key opportunity for a new Owner who can offer move-in ready units. The Seller has beds for each room which can be part of the sale (~$60k value). Two units on the 1st floor have restrooms in the unit, all other rooms share large recently renovated communal restrooms on each floor with 3 showers and multiple stalls. Perfect for a communal living use such as mental health/rehabilitation or individual room rentals for student or market rate housing. Convenient Dinkytown location.
Directions: Corner of 5th SE & 10th Ave SE near the University of Minnesota
Accessible
None: 1
Air Conditioning
Window Unit(s): 1
Assessments
Assessment Balance: 0
Tax With Assessments: 24651
Basement
Full: 1
Building Information
Building Finished SqFt: 14592
Building SqFt: 14592
Construction Status
Previously Owned: 1
Exterior
Brick/Stone: 1
Financing Terms
Conventional: 1
Fuel
Natural Gas: 1
Heating
Boiler: 1
Forced Air: 1
Lease Details
Land Leased: Not Applicable
Lot Description
Corner Lot: 1
Miscellaneous Information
Homestead: No
Ownership
Fractional Ownership: No
Parking Characteristics
Paved Lot: 1
Uncovered/Open: 1
Public Survey Info
Range#: 24
Section#: 24
Township#: 29
Rental License Type
Standard: 1
Sale Options
Sale Includes: Building, Land
Sewer
City Sewer/Connected: 1
Unit Details
Total Units: 26
Water
City Water/Connected: 1
On Site Utilities
Electric Common: 1
Heating Common: 1
Hot Water Common: 1
CMU Style
Freestanding: 1
Mixed Use: 1
Current Use
Commercial: 1
Residential: 1
Loan Terms
Cash: 1
Conventional: 1
Location Tax and Other Information
House Number: 1000
Street Name: 5th
Street Suffix: Street
Street Direction Suffix: SE
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55414
Complex/Dev/Subdivision: Saint Anthony Falls
Property Features
Accessible: None
Air Conditioning: Window Unit(s)
Basement: Full
CMU Style: Freestanding; Mixed Use
Construction Status: Previously Owned
Current Use: Commercial; Residential
Exterior: Brick/Stone
Financing Terms: Conventional
Fuel: Natural Gas
Heating: Boiler; Forced Air
Loan Terms: Cash; Conventional
Lot Description: Corner Lot
On Site Utilities: Electric Common; Heating Common; Hot Water Common
Parking Characteristics: Paved Lot; Uncovered/Open
Rental License Type: Standard
Sewer: City Sewer/Connected
Water: City Water/Connected
Listing Office: RE/MAX Results
Last Updated: August - 08 - 2025
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. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.