2700 Garfield Avenue

Minneapolis, MN 55408

$1,200,000
Price
—
Beds
5,328 Sq. Ft.
$225 / Sq. Ft.
5,328
Sq. Ft.
$225
per Sq. Ft.

Listed By Compass

Listed By Compass

Description

MOTIVATED SELLER - Encouraging Offers! Located in the heart of the Whittier neighborhood, this beautifully renovated 8-unit apartment presents an exceptional investment opportunity - featuring a unit mix of seven x one-bedroom units and one x studio, along with five parking stalls. With a mix of long-term tenants and fully furnished mid-term and short-term units, this property is already generating strong income, grossing north of $11,000 per month, representing an in-place cap rate of 7.81%! The...MOTIVATED SELLER - Encouraging Offers! Located in the heart of the Whittier neighborhood, this beautifully renovated 8-unit apartment presents an exceptional investment opportunity - featuring a unit mix of seven x one-bedroom units and one x studio, along with five parking stalls. With a mix of long-term tenants and fully furnished mid-term and short-term units, this property is already generating strong income, grossing north of $11,000 per month, representing an in-place cap rate of 7.81%! The property has undergone an extensive renovation, addressing everything from the exterior façade and landscaping to the common areas and in-unit upgrades. Each unit is tastefully updated, ensuring a modern living experience for all residents. Whether you're looking to expand your portfolio or seeking a solid investment in a vibrant Minneapolis neighborhood, 2700 Garfield Avenue South offers a rare blend of immediate income and long-term value appreciation. Don’t miss out on this well-maintained, high-performing asset in one of the city's most sought-after areas!

Listing Agent

  1. Paul Begich

    Paul Begich

    Listing Agent

    Compass

    paul.begich@compass.com

    P: (952)-847-3406

    CallTextEmail

Property Details for 2700 Garfield Avenue

Neighborhood
Whittier
Subdivision Name
Hedderly & Mcgreggors Add
Zoning Jurisdiction
Business/Commercial
LISTING UPDATED: 10/29/2024 09:05 PM

Property Details for 2700 Garfield Avenue

StatusActive
MLS #6624560
Days on Compass23
Taxes$16,315 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeApartment
MLS TypeCommercial Sale / Apartment
Year Built1959
Lot Size0.12 AC / 5,227 SF
CountyHennepin County

Building Information for 2700 Garfield Avenue

Stories-Residences8Year Built1959Lot Size0.12 AC / 5,227 SF

Property Information for 2700 Garfield Avenue

Summary
Location and General Information
  • City Name: Minneapolis
  • County Or Parish: Hennepin
  • County: Hennepin-MN
  • Directions: North on Lyndale, Right on 27th, Property to the Right
  • Latitude: 44.953605
  • Longitude: -93.287132
  • Map Coordinate: 106-C4
  • Map Coordinate Source: King's Street Atlas
  • City and Location: Minneapolis
  • City and Location Text: Minneapolis(MN)
  • Postal Code: 55408
  • State Or Province: MN
  • Public Survey Township: 29
Taxes and HOA Information
  • Additional Parcels: No
  • Parcel Number: 3402924320097
  • Tax Annual Amount: $16,315.00
  • Tax Legal Description: LOT 001 BLOCK 002 HEDDERLY & MCGREGGORS ADDN TO MPLS
  • Tax Other Annual Assessment Amount: $.00
  • Tax Year: 2024
  • Tax With Assessments: 16314.6800
School Information
  • High School District: 1 - Minneapolis
  • School District Number: 1
  • School District Phone: 612-668-0000
Property
Lot Information
  • Current Use: Residential
  • Lot Size Area: 0.12
  • Lot Size Dimensions: 118'x42'
  • Lot Size Units: Acres
  • Property Sub Type: Apartment
  • Property Type: Commercial Sale
  • Building Area Total: 5328.0
Property and Assessments
  • Age Of Property: 65
Utilities
  • Sewer: City Sewer/Connected
  • Utilities: None
  • Water Source: City Water/Connected
Interior and Exterior Features
Exterior Features
  • Accessibility Features: None
  • Foundation Area: 2664.0
  • Fuel: Natural Gas
Interior Features
  • Heating: Boiler, Hot Water
  • Basement YN: No

Property History for 2700 Garfield Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2700 Garfield Avenue

Taxable ValueLand$151,000Additions$871,000Total$1,022,000
Tax Record2023$16,315 ($1,360 / month)
Home Facts
Total Finished SqFt2,664 SqFtAbove Grade Finished SqFt2,664 SqFtStories1Lot Size5,227 SqFtStyleMulti-Family Res (5+ Units)Year Built1959ZoningR2BCountyHENNEPINAPN34-029-24-32-0097

Schools near 2700 Garfield Avenue

This home is within Minneapolis Public School Dist..
Rating
School
Type
Grades
Distance
Whittier International
Public - PK to 5
Andersen Community
Public - PK to 8
South Senior High School
Public - 9 to 12
Merc Extended
Public - 9 to 12
Rating
School
Distance
Whittier International
PublicPK to 5

Andersen Community
PublicPK to 8

South Senior High School
Public9 to 12

Merc Extended
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 2700 Garfield Avenue, Minneapolis, MN 55408

2700 Garfield Avenue is for sale in Minneapolis, MN 55408. This property was listed for sale on October 29, 2024 by Compass, it's currently listed at $1,200,000. It has been on the market for a total of 23 days and was last sold on February 22, 2022. This listing's school district is Minneapolis Public School Dist.. Nearby schools include Whittier International, Andersen Community and South Senior High School. 2700 Garfield Avenue is a 0-bed, 0-bath, 5,328 sqft built in 1959.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Based on information from one of the following Multiple Listing Services: Minneapolis Northstar, REALTORS Association of Northeast Wisconsin and Lake Superior Area REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Minneapolis Northstar and REALTORS Association of Northeast Wisconsin is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Data last updated on 10/29/2024 09:05 PM