Listed By
Agency Name: Apartment Cash Flow, Inc.
Agency Phone: 651-263-3653
Shown By
Agency Title: Counselor Realty
Agency Phone: 612-405-8404
Property Description
THE NICOLLET AVE APARTMENTS OFFERS INVESTORS A HIGHER RETURN FOR THEIR MONEY THEN MOST DEALS ON THE MARKET TODAY!! THE OWNER HAS CAREFULLY RENOVATED EVERY UNIT WITH NEWER KITCHENS, NEWER BATHROOMS, ALL NEW LIGHTING AND PLUMBING FIXTURES, NEW CARPET, REFINISHED ORIGINAL OAK HARDWOOD FLOORING, AND NEW TILE AND QUARTZ COUNTERTOPS!! EACH KITCHEN HAS ALSO RECEIVED A COMPLETE STAINLESS-STEEL APPLIANCE PACKAGE THAT INCLUDES FULL-SIZE DISHWASHERS. THE LAUNDRY MACHINES ARE LEASED THROUGH BDS ON A REVENUE SHARED PROGRAM AND OFFERS RESIDENTS AN ELECTRONIC PAYMENT SYSTEM. THE OWNER HAS ALSO INCREASED REVENUE SIGNIFICANTLY BY IMPLEMENTING A UTILITY REIMBURSEMENT PROGRAM THROUGH RUBS. THIS ASSET WILL CHANGE HANDS FULLY RENTED AND STABILIZED WITH MARKET RENTS AND LEASES RUNNING THROUGH SPRING/SUMMER OF 2026. THE CURRENT IN PLACE CAP RATE OF 8.9% IS BASED ON A NET OPERATING INCOME $146,772.
Property Features
Feature Descriptions
Local Schools
6141 Nicollet Avenue S, Minneapolis, MN 55419
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6141 Nicollet Avenue S, Minneapolis, MN 55419
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6141 Nicollet Avenue S, Minneapolis, MN 55419.
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6141 Nicollet Avenue S | MLS# 6811146
This commercial property located at 6141 Nicollet Avenue S, Minneapolis, MN 55419 is currently listed for sale with an asking price of $1,650,000. Nicollet Avenue S is located within the Minneapolis school district. Search Minneapolis real estate on www.counselorrealestate.com today.