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CITY
Minneapolis, MN
UNITS
17
SALES PRICE
$766,000
DOWN PAYMENT
$191,500
TERMS
Cash or Submit
Highlights
  • Controlled access with intercom
  • Ample off street parking
  • Bathroom vanities and tile surrounds
  • Ceramic floors
  • Large closets
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Description

Penn Avenue Apartments is a well appointed and maintained 2 ½-story brick complex consisting of 17 spacious units.  The property, built in the early 70’s, also includes an off-street parking lot directly adjacent to the site.  The building is framed by nicely-groomed trees and bushes.

Front & back entries are equipped with double glass security doors and durable ceramic tile flooring.  Halls and stairways are fully carpeted and well lit and feature wrought-iron railings and “knock down” textured walls.  All apartments are nicely decorated with neutral-color finishes, large windows and plenty of closet space.

The property is conveniently located in Minneapolis a few blocks north of Lowry on Penn Avenue.  The neighborhood benefits from a major redevelopment project along Lowry Avenue intended to revitalize the community.  The first phase of the project, which began last year, targeted Lowry Avenue infrastructure development.  The next phase involves fostering new developments and attracting new businesses along the entire corridor.

Summary
Property Type
2 1/2-story brick building
Year Built
1970
Units / Rents
17 - 1 BR - ($629)
Heating & Air Conditioning
Gas fired hot water
Wall units
Laundry
1 washer & 1 dryer (leased)
Assessed Market Value
$ 666,000
Real Estate Taxes
2010 - $ 11,976
Parcel Size
acres
Parking
Ample off street parking
Roofs
Pitched- shingled
©2008 MINNESOTA BROKERAGE GROUP
4725 Excelsior Blvd. Suite 500 / Minneapolis, MN. 55416
952.922.4405