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$2,400,000
Est. payment /mo
0.34 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision J T Blaisdells Rev Add
MLS Listing ID 7141393
Year Built 1968
Annual Tax Amount $34,164
Tax Year 2026
Contingent None
Lot Size 0.340 Acres
Property Description
Outstanding value-add investment opportunity in South Minneapolis. This 100%-occupied, 21-unit apartment building at 2725 Pleasant Ave S (1 efficiency, 3 studio/1-bath, 15 one-bedrooms, 2 two-bedrooms, plus 25 surface parking spaces and on-site laundry) offers a buyer immediate cash flow with significant upside as rents move to market.
15 units have already been updated, including 5 with new bathrooms, the 21st unit is currently being renovated and reactivated for an added income stream. Major capital items are already addressed — a full roof and parapet wall rebuild ($350,000, 2023) and a 2026 sewer main lining — plus fresh common-area paint and new hallway carpet on order.
A building-wide RUBS program was implemented within the past 12 months, shifting water/sewer, trash, and electric/gas costs to tenants, and the 25 parking spaces (currently free) offer a straightforward paid-parking upside.
Seller financing may be available for qualified buyers.
15 units have already been updated, including 5 with new bathrooms, the 21st unit is currently being renovated and reactivated for an added income stream. Major capital items are already addressed — a full roof and parapet wall rebuild ($350,000, 2023) and a 2026 sewer main lining — plus fresh common-area paint and new hallway carpet on order.
A building-wide RUBS program was implemented within the past 12 months, shifting water/sewer, trash, and electric/gas costs to tenants, and the 25 parking spaces (currently free) offer a straightforward paid-parking upside.
Seller financing may be available for qualified buyers.
Location
State MN
County Hennepin
Zoning Business/Commercial
Interior
Heating Other
Inclusions Building, Leases
Fireplace No
Exterior
Parking Features Parking Lot
Utilities Available None Available
Present Use Residential
Building
Story Two
Foundation 1
Sewer City Sewer/Connected
Water City Water - In Street
Level or Stories Two
New Construction false
Schools
School District Minneapolis
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Listed by Adam Hunt • Fuze Real Estate
Nearby School & Business
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