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CITY
Minneapolis, MN
UNITS
8
SALES PRICE
$362,000
DOWN PAYMENT
$90,500
TERMS
Cash or Submit
Highlights
  • Controlled access front & back entries
  • On-site laundry
  • Newer furnace (2003)
  • Newer roof (2008)

Call MBG at (952) 922 -4405

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Description

The Fortune Apartments features eight, one-bedroom units in close proximity to the Hiawatha Light Rail Transit Station. The property is equipped with secured front and back entrances and is surrounded by solid chain-link fencing. This asset includes four off-street parking spaces behind the building, and an onsite laundry. Average monthly rents run from $618 to $683.

The one-bedroom units include large living rooms with bay windows. Most kitchens have small eating areas, white appliances with vent hoods and double stainless steel sinks. Some of the baths have newer pedestal sinks with tile tub surrounds and inset window vents. Most appliances have been replaced within the past five years, and many units have new or newer flooring.

The property is located in a friendly, residential neighborhood just blocks from the Hiawatha Blue Line. Property values of housing and businesses along transit line routes have been found to be positively affected. The East Phillips neighborhood's property values are expected to increase 3.1 percent next year compared to a 2.3 percent rise for Minneapolis as a whole (Zillow).

 

Summary
Property Type
2 1/2 story building
Year Built
1906
Units / Rents
04 -- 1 Bedroom– (small)- $618
04 – 1 Bedroom (large)– $683
Heating & Air Conditioning

Gas fired hot water

A/C - None

Laundry
1 washer & 1 dryer (leased)
Assessed Market Value
N/A
Real Estate Taxes
2013 - $6,128
Parcel Size
.14acres
Parking
Off street
Roofs
Flat, membrane
©2008 MINNESOTA BROKERAGE GROUP
4725 Excelsior Blvd. Suite 500 / Minneapolis, MN. 55416
952.922.4405