Property Description Exceptional investment opportunity in high-demand Elliot Park! This well maintained 12-unit apartment building features spacious one bedroom, one bath units with generous living areas, several of which have been tastefully remodeled. Located just minutes from downtown Minneapolis, the property enjoys a highly walkable location with excellent access to public transit. Close to parks, universities, shopping, and dining. Strong rental history units are always occupied and lease quickly in this high-demand area.
Current rents are below market, offering significant upside potential for the next owner.
A standout feature: one of the few buildings in the area with a large off-street parking lot accommodating one car per unit, a major draw for tenants. Solid cash flow today with room to grow.
Details
Maps
Contract Information
Status: Active
Current Price: 1300000
Contingency: None
ListPrice: 1300000
List Date: 2026-06-13
Owner is an Agent?: No
Auction?: No
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 12
Waterfront YN: No
Year Built: 1968
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Bedrooms: 1
Baths Total: 1
Foundation Size: 3340
For Sale or Lease: For Sale
Acres: 0.25
Lot Dimensions: 75.10 X 145.00
Assessment Pending: Unknown
Location Tax and Other Information
House Number: 1500
Street Name: 10th
Street Suffix: Avenue
Street Direction Suffix: S
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55404
Complex/Dev/Subdivision: J S & W Elliots Add
Assessments
Tax With Assessments: 27235
Basement
Foundation Dimensions: 49.10 x 71.3
Building Information
Building Finished SqFt: 10020
Building SqFt: 10020
Income and Expenses
Annual Electric Expense: 1960
Annual Fuel Expense: 6280
Annual Gross Income: 136800
Annual Maintenance Expense: 1440
Annual Net Income: 123920
Annual Trash Expense: 3000
Annual Water/Sewer Expense: 4320
Total Annual Expenses: 12880
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
Homestead: No
Ownership
Fractional Ownership: No
Public Survey Info
Range#: 24
Section#: 26
Township#: 29
Sale Options
Sale Includes: Building, Land
Unit 1
No. of 1 Bedroom Units: 12
Unit Details
Total Units: 12
Property Features
Accessible: None
CMU Style: Apartments/Multi Family
Construction Status: Previously Owned
Current Use: Residential
Exterior: Brick Veneer
Foundation: Combination; Slab
Fuel: Electric; Natural Gas
Heating: Baseboard; Boiler
Lock Box Type: Combo
On Site Utilities: Electric Separate
Owner Pays: Gas; Maintenance/Repair; Trash Collection; Water