$1,650,000
6141 Nicollet Avenue S Minneapolis, MN 55419
For Sale MLS# 6811146
12,000 sq ft Commercial
Details for 6141 Nicollet Avenue S
MLS# 6811146
Description for 6141 Nicollet Avenue S, Minneapolis, MN, 55419
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.
Listing Information
Property Type: Commercial, Apartments/Multi Family
Status: Active
Bedrooms: 23
Bathrooms: 11
Lot Size: 0.29 Acres
Square Feet: 12,000 sq ft
Year Built: 1960
Foundation: 4,000 sq ft
Stories: Three Or More
Subdivision: Nicollet Heights
Number Of Units Total: 11
Current Use: Residential
County: Hennepin
Days On Market: 54
Construction Status: Previously Owned
School Information
District: 1 - Minneapolis
Interior Features
Appliances: Dishwasher, Range, Refrigerator
Flooring: Carpet,Tile,Vinyl/Linoleum,Wood
Basement: Full, Finished (Livable)
Additional Interior Features: Cable, Tile Floors, Walk-In Closet, Hardwood Floors, Ceiling Fan(s)
Utilities
Water: City Water/Connected
Sewer: City Sewer/Connected
Other Utilities: Electric Separate,Heating Common,Hot Water Common
Cooling: Window
Heating: Boiler, Natural Gas
Exterior / Lot Features
Open Parking: 9
Parking Description: Paved Lot
Exterior: Brick/Stone
Roof: Age Over 8 Years, Flat
Lot Dimensions: 80 x100
Zoning: Residential-Multi-Family
Topography: Level
Additional Exterior/Lot Features: Corner Lot, Land Inclusions - Building,Business,Land,Leases,Rental License, Road Frontage - City
Unit Information
Unit 1 Actual Rent: 1495
Unit 1 Baths Total: 1
Unit 1 Beds Total: 2
Unit 1 Rooms Total: 6
Unit 2 Actual Rent: 1395
Unit 2 Baths Total: 1
Unit 2 Beds Total: 2
Unit 2 Rooms Total: 6
Unit 3 Actual Rent: 1495
Unit 3 Baths Total: 1
Unit 3 Beds Total: 2
Unit 3 Rooms Total: 6
Unit 4 Actual Rent: 2005
Unit 4 Baths Total: 1
Unit 4 Beds Total: 3
Unit 4 Rooms Total: 7
Unit 5 Actual Rent: 1505
Unit 5 Baths Total: 1
Unit 5 Beds Total: 2
Unit 5 Rooms Total: 6
Unit 6 Actual Rent: 1405
Unit 6 Baths Total: 1
Unit 6 Beds Total: 2
Unit 6 Rooms Total: 6
Driving Directions
Hwy 35 to Hwy 62
Financial Considerations
Tenant Pays: Broadband,Cable T.V.,Electric
Owner Pays: Gas,Hot Water,Lawn
Gross Income: 218461
Expense: 71689
Tax/Property ID: 2202824430070
Tax Amount: 23066
Tax Year: 2025
HomeStead Description: Non-Homesteaded
A broker reciprocity listing courtesy: Apartment Cash Flow, Inc.
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Edina Realty, Inc. are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail and detailed information about them includes the name of the listing brokers. Edina Realty, Inc. is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Edina Realty, Inc., a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc. IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Open House information is subject to change without notice. Information deemed reliable but not guaranteed.
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Payment Calculator
Interest rate and annual percentage rate (APR) are based on current market conditions, are for informational purposes only, are subject to change without notice and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score and other variables. Estimated closing costs used in the APR calculation are assumed to be paid by the borrower at closing. If the closing costs are financed, the loan, APR and payment amounts will be higher. If the down payment is less than 20%, mortgage insurance may be required and could increase the monthly payment and APR. Contact us for details. Additional loan programs may be available. Accuracy is not guaranteed, and all products may not be available in all borrower's geographical areas and are based on their individual situation. This is not a credit decision or a commitment to lend.
Sales History & Tax Summary for 6141 Nicollet Avenue S
Sales History
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Tax Summary
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Data powered by ATTOM Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
Schools
Schools nearby 6141 Nicollet Avenue S
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The schools shown represent both the assigned schools and schools by distance based on local school and district attendance boundaries. Attendance boundaries change based on various factors and proximity does not guarantee enrollment eligibility. Please consult your real estate agent and/or the school district to confirm the schools this property is zoned to attend. Information is deemed reliable but not guaranteed.
SchoolDigger ® Rating
The SchoolDigger rating system is a 1-5 scale with 5 as the highest rating. SchoolDigger ranks schools based on test scores supplied by each state's Department of Education. They calculate an average standard score by normalizing and averaging each school's test scores across all tests and grades.
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