Minneapolis, MN 55411,2050 W Broadway AVE
Minneapolis, MN 55411,2050 W Broadway AVE
Minneapolis, MN 55411,2050 W Broadway AVE
42
$425,000
$424,900
Est.Price: ?

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3,588 SqFt

2050 W Broadway AVE Minneapolis, MN 55411

Est. payment /mo
SOLD DATE : 02/01/2021

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Key Details

Sold Price $425,000

Property Type Multi-Family

Sub Type Triplex

Listing Status Sold

Purchase Type For Sale

Square Footage 3,588 sqft

Price per Sqft $118

Subdivision Forest Heights

MLS Listing ID 5349456

Sold Date 02/01/21

Year Built 1904

Annual Tax Amount $2,939

Tax Year 2020

Contingent None

Lot Size 5,662 Sqft

Acres 0.13

Lot Dimensions 45x125

Property Description

In the heart of Broadway & Penn. Come see all the new development that surround this Triplex. The building has been gutted and re-built; EVERYTHING IS NEW - Electrical, Plumbing, Duct Work, Water Heaters, HVAC, Framing, Insulation, Drywall, leveling of floors, Windows, bathrooms, kitchens, finish work, doors, AC and the list goes on. All units have separate front and back entrances, separate HVAC, separate utilities and a shared basement area for storage and laundry. 3 furnaces. 3 water heaters. 3 central air units. Common laundry area in basement. Storage space in basement. APPLIANCES ARE BEING INSTALLED. Sprinkler system in building. Based on the average rents and estimation for additional income, CAP Rates are coming in at 8.03% and Cash on Cash is 13.90% with 25% down at a rate of 4.5%. With tax breaks, that's a 17.24% return. These are the best returns I've seen in this market.

Location

State MN

County Hennepin

Zoning Business/Commercial,Residential-Multi-Family

Rooms

Family Room Other

Basement Daylight/Lookout Windows, Full

Interior

Heating Forced Air

Fireplace No

Exterior

Parking Features Detached

Garage Spaces 2.0

Fence None

Roof Type Age 8 Years or Less,Asphalt

Building

Lot Description Public Transit (w/in 6 blks)

Story More Than 2 Stories

Foundation 1204

Sewer City Sewer/Connected

Water City Water/Connected

Level or Stories More Than 2 Stories

Structure Type Brick/Stone,Vinyl Siding

New Construction false

Schools

School District Minneapolis

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Listed by Alexander Boylan • Edina Realty, Inc.

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J B

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+1(612) 607-3999

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