Home › 6141 Nicollet Avenue S, Minneapolis, MN 55419 (MLS# 6811146)

6141 Nicollet Avenue S, Minneapolis, MN 55419 (MLS# 6811146)

$1,650,000
6141 Nicollet Avenue S
Minneapolis, MN 55419
MLS# 6811146
Status: Closed
23 beds  |  11 baths
6141 Nicollet Avenue S, Minneapolis, MN 55419
  1 / 30  
6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419 6141 Nicollet Avenue S, Minneapolis, MN 55419

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.

Details
Maps
Documents
Contract Information
Status: Closed
Off Market Date: 2026-02-03
Current Price: 1557500
Closed Date: 2026-04-03
Sales Close Price: 1557500
Contingency: None
ListPrice: 1650000
List Date: 2025-10-29
Owner is an Agent?: No
Auction?: No
General Property Information
Lot Measurement: Acres
Management Company Name: Self Managed
Multiple PIDs?: No
Other Parking Spaces: 9
Owner Occupied: No
Waterfront Present: No
Year Built: 1960
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Bedrooms: 23
Baths Total: 11
Foundation Size: 4000
Management Company Phone: 651-263-3653
Power Company: Xcel Energy
For Sale or Lease: For Sale
Acres: 0.29
Lot Dimensions: 80 x100
Location Tax and Other Information
House Number: 6141
Street Name: Nicollet
Street Suffix: Avenue
Street Direction Suffix: S
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55419
Complex/Dev/Subdivision: Nicollet Heights
Assessments
Tax With Assessments: 23066
Building Information
Building Finished SqFt: 12000
Building SqFt: 12000
Ceiling Height: 8-10
Income and Expenses
Annual Electric Expense: 1104
Annual Fuel Expense: 8116
Annual Gross Expenses: 71689
Annual Gross Income: 218461
Annual Insurance Expense: 9272
Annual Maintenance Expense: 10120
Annual Net Income: 146772
Annual Trash Expense: 3900
Annual Water/Sewer Expense: 7080
Total Annual Expenses: 71689
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
Homestead: No
Ownership
Fractional Ownership: No
Public Survey Info
Range#: 24
Section#: 22
Township#: 28
Sale Options
Sale Includes: Building, Business, Land, Leases, Rental License
Unit 1
Unit Number: 101
Monthly Rent: 1405
Full Baths: 1
Total Bathrooms: 1
Total Bedrooms: 2
Total Rooms: 6
Level: Below Ground
Unit Total SqFt: 735
Leased?: Yes
Lease Expiration Date: 2026-02-28
Unit 10
Full Baths: 1
Lease Expiration Date: 2026-11-30
Leased?: Yes
Level: 2nd Level
Monthly Rent: 1495
Total Bathrooms: 1
Total Bedrooms: 2
Total Rooms: 6
Unit Number: 303
Unit Total SqFt: 735
Unit 11
Full Baths: 1
Lease Expiration Date: 2026-03-31
Leased?: Yes
Level: 2nd Level
Monthly Rent: 1495
Total Bathrooms: 1
Total Bedrooms: 2
Total Rooms: 6
Unit Number: 304
Unit Total SqFt: 735
Unit 2
No. of 2 Bedroom Units: 10
Full Baths: 1
Lease Expiration Date: 2026-09-30
Leased?: Yes
Level: Below Ground
Monthly Rent: 1495
Total Bathrooms: 1
Total Bedrooms: 2
Total Rooms: 6
Unit Number: 102
Unit Total SqFt: 735
Unit 3
No. of 3 Bedroom Units: 1
Full Baths: 1
Lease Expiration Date: 2026-10-31
Leased?: Yes
Level: Below Ground
Monthly Rent: 1395
Total Bathrooms: 1
Total Bedrooms: 2
Total Rooms: 6
Unit Number: 104
Unit Total SqFt: 735
Unit 4
Full Baths: 1
Lease Expiration Date: 2026-02-28
Leased?: Yes
Level: Main Level
Monthly Rent: 1495
Total Bathrooms: 1
Total Bedrooms: 2
Total Rooms: 6
Unit Number: 201
Unit Total SqFt: 735
Unit 5
Full Baths: 1
Lease Expiration Date: 2026-02-28
Leased?: Yes
Level: Main Level
Monthly Rent: 1505
Total Bathrooms: 1
Total Bedrooms: 2
Total Rooms: 6
Unit Number: 202
Unit Total SqFt: 735
Unit 6
Full Baths: 1
Lease Expiration Date: 2026-02-28
Leased?: Yes
Level: Main Level
Monthly Rent: 2005
Total Bathrooms: 1
Total Bedrooms: 3
Total Rooms: 7
Unit Number: 203
Unit Total SqFt: 1100
Unit 7
Full Baths: 1
Lease Expiration Date: 2026-02-28
Leased?: Yes
Level: Main Level
Monthly Rent: 1505
Total Bathrooms: 1
Total Bedrooms: 2
Total Rooms: 6
Unit Number: 204
Unit Total SqFt: 735
Unit 8
Full Baths: 1
Lease Expiration Date: 2026-07-31
Leased?: Yes
Level: 2nd Level
Monthly Rent: 1550
Total Bathrooms: 1
Total Bedrooms: 2
Total Rooms: 6
Unit Number: 301
Unit Total SqFt: 735
Unit 9
Full Baths: 1
Lease Expiration Date: 2026-02-28
Leased?: Yes
Level: 2nd Level
Monthly Rent: 1520
Total Bathrooms: 1
Total Bedrooms: 2
Total Rooms: 6
Unit Number: 302
Unit Total SqFt: 735
Unit Details
Total Units: 11
Property Features
Accessible: None
Air Conditioning: Window Unit(s)
Amenities Unit: Cable; Ceiling Fan(s); Hardwood Floors; Tile Floors; Walk-In Closet
Appliances: Dishwasher; Range; Refrigerator
Assumable Loan: Not Assumable
Basement: Full
CMU Style: Apartments/Multi Family
Construction Materials: Block; Brick
Construction Status: Previously Owned
Current Use: Residential
Existing Financing: Conventional
Exterior: Brick/Stone
Fencing: None
Financing Terms: Cash
Flooring: Carpet; Tile; Vinyl/Linoleum; Wood
Fuel: Natural Gas
Heating: Boiler
Internet Options: Cable
Loan Terms: Cash; Conventional
Lock Box Type: None
Lot Description: Corner Lot
On Site Utilities: Electric Separate; Heating Common; Hot Water Common
Owner Pays: Gas; Hot Water; Lawn; Lawn
Parking Characteristics: Paved Lot
Pool Description: None
Potential Use: Income
Rent Rate per Foot: Per Month
Rental License Type: Standard
Road Frontage: City Street
Road Responsibility: Public Maintained Road
Roof: Age Over 8 Years; Flat
Sewer: City Sewer/Connected
Stories: Three Or More
Tenant Pays: Broadband; Cable TV; Electricity
Topography: Level
Water: City Water/Connected

Listing Office: Apartment Cash Flow, Inc.

Last Updated: April - 05 - 2026

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.

Sunday 31st of May 2026 06:23 AM

218-998-4400

Search For Your New Home!
Residential
MultiFamily
Farm
Land
Commercial
Rental
to
to
to
to
More Search Options