Minneapolis, MN 55419 6141 Nicollet Avenue S
$1,650,000
19 more
Presented By: Apartment Cash Flow, Inc.
SQFT • 12,000
Home Details
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 8.38% IS BASED ON A NET OPERATING INCOME $138,384.
Presented By: Apartment Cash Flow, Inc.
Interior Features for 6141 Nicollet Avenue S
Other Interior Features
BasementFinished, Full
Basement (Y/N)Yes
Ceiling Height8-10
FuelNatural Gas
General for 6141 Nicollet Avenue S
AccessibilityNone
Additional Parcels Y/NNo
AppliancesDishwasher, Range, Refrigerator
CityMinneapolis
Construction MaterialsBrick/Stone
ContingencyNone
CoolingWindow Unit(s)
CountyHennepin
Current UseResidential
DirectionsHwy 35 to Hwy 62
Electric Expense1104
Fuel Expense8116
Garage Spaces
Gross Income218461
HeatingBoiler
High School DistrictMinneapolis
Insurance Expense9272
Land Lease Y/NNo
Lender OwnedNo
LevelsThree Or More
Lot Size UnitsAcres
MaintenanceExpense10020
Net Operating Income146772
Number Of Units Total11
Operating Expense71689
OwnerPaysGas, Grounds Care
Possible UseInvestment
PostalCityMinneapolis
Property SubtypeApartment
Property TypeCommercial Sale
RoofAge Over 8 Years, Flat
SewerCity Sewer/Connected
Standard StatusActive
Subdivision NameNicollet Heights
Tax Annual Amount23066
Tax Year2025
Tenant PaysCable TV, Electricity
TopographyLevel
Trash Expense3900
UtilitiesElectric Separate, Heating Common, Hot Water Common
Water Sewer Expense7080
Year Built1960
Zoning DescriptionResidential-Multi-Family
Exterior for 6141 Nicollet Avenue S
Building Area Total12000
Foundation Area4000
InclusionsBuilding, Business, Land, Leases, Rental License
Lot Dimensions80 x100
Lot Size Area0.29
Parking FeaturesPaved
Road Frontage TypeCity Street
Road ResponsibilityPublic Maintained Road
Water SourceCity Water/Connected
Additional Details
Price History
John Wichmann
Agent