a Berkshire Hathaway affiliate

$424,900

2050 W Broadway Avenue, Minneapolis, MN 55411


2050 W Broadway Avenue Minneapolis, MN 55411

For Sale MLS# 5349456

8 beds 3 baths 3,588 sq ft Multi-family

Data current as of {{getLocalTime('2020-09-26T18:05:39Z')}}

Details

MLS# 5349456

Description for 2050 W Broadway Avenue, Minneapolis, MN, 55411


In the heart of Broadway & Penn. Come see all the new development that surround this Triplex. The building has been gutted and re-built; EVERYTHING IS NEW - Electrical, Plumbing, Duct Work, Water Heaters, HVAC, Framing, Insulation, Drywall, leveling of floors, Windows, bathrooms, kitchens, finish work, doors, AC and the list goes on. All units have separate front and back entrances, separate HVAC, separate utilities and a shared basement area for storage and laundry. 3 furnaces. 3 water heaters. 3 central air units. Common laundry area in basement. Storage space in basement. APPLIANCES ARE BEING INSTALLED. Sprinkler system in building. Based on the average rents and estimation for additional income, CAP Rates are coming in at 8.03% and Cash on Cash is 13.90% with 25% down at a rate of 4.5%. With tax breaks, that's a 17.24% return. These are the best returns I've seen in this market.

Listing Information


Property Type: Multi-family, Triplex, More Than 2 Stories

Status: Active

Bedrooms: 8

Bathrooms: 3

Lot Size: 0.13 Acres

Square Feet: 3,588 sq ft

Year Built: 1904

Foundation: 1,204 sq ft

Garage: Yes

Stories: More Than 2 Stories

Construction:

Property Attached: No

Date Available:

Model Home:

Development:

Completion date:

Subdivision: Forest Heights

Builder:

Foundation:

Total Units: 3

Current Use:

Background Check: No

Furnished:

Smoking Permitted: No

In Foreclosure: No

Lender Owned: No

Potential Short Sale: No

Auction: No

County: Hennepin

Days On Market: 75

HERS Score:

Construction Status: Previously Owned

School Information


District: 1 - Minneapolis

Elementary:

Middle:

High:

Room Information


Bathrooms

Full Baths: 2

Interior Features


Square Footage above: 2,384 sq ft

Square Footage below: 1,204 sq ft

Flooring:

Basement: Day/Lookout Windows, Full

Additional Interior Features:

Utilities


Water: City Water/Connected

Sewer: City Sewer/Connected

Available Utilities:

Other Utilities:

Heating: Forced Air, Natural Gas

Exterior / Lot Features


Garage Spaces: 2

Parking Description: Detached Garage

Exterior: Vinyl, Brick/Stone

Roof: Age 8 Years or Less, Asphalt Shingles

Lot View:

Lot Dimensions: 45x125

Farm Type:

Crop Type:

Zoning: Residential-Multi-Family,Business/Commercial

Additional Exterior/Lot Features: City Bus (w/in 6 blks), Road Frontage - City, Curbs, Paved Streets, Sidewalks

Soil Type:

Tillable Acres:

Community Features


Community Amenities: Other

Complex Features: Porch, Fire Sprinkler System

Pets Allowed: No

Association Name:

Unit Information


Number of Units Like This: 1

Monthly Rent: 1375

Total Baths: 1

Total Bedrooms: 3

Total Rooms: 6

Number of Units Like This: 1

Monthly Rent: 1375

Total Baths: 1

Total Bedrooms: 3

Total Rooms: 6

Number of Units Like This: 1

Monthly Rent: 1125

Total Baths: 1

Total Bedrooms: 2

Total Rooms: 5

Driving Directions


Just east of Penn Ave N, on the north side of West Broadway Ave.

Financial Considerations


Other Deposit Fees:

Assessments: $1,251

Covenants/Deed Restrictions:

Terms:

Tenant Pays: Electric,Fuel

Owner Pays: Taxes,Insurance,Water/Sewer,Trash

Annual Income: $46,500

Ownership Type:

Tax/Property ID: 1602924220171

Tax Amount: $2,939

Tax Year: 2020

HomeStead Description: Non-Homesteaded

Price Changes


$474,900 Original Price
$424,900 Current Price
-$50,000 Total Change
Date Price Change
9/24/2020 01:01 PM $424,900 -$25,000
9/14/2020 11:59 AM $449,900 -$10,000
7/28/2020 01:48 PM $459,900 -$15,000
7/13/2020 11:24 AM $474,900

Sales History

Date Price Change
{{sales.saleDateDisplay}} {{sales.saleAmountDisplay}} {{sales.saleAmountChangeDisplay}}
Currently not available.

Tax Summary

Data provided for tax year {{salesHistoryAndTax.taxAssessment.taxYear}}

Estimated Market Value Taxable Market Value Total Tax
{{salesHistoryAndTax.taxAssessment.calculatedTotalValue}} {{salesHistoryAndTax.taxAssessment.assessedTotalValue}} {{salesHistoryAndTax.taxAssessment.taxAmount}}

Data powered by Onboard Informatics. Copyright© 2020. Information deemed reliable but not guaranteed.

Schools nearby 2050 W Broadway Avenue

Schools in attendance boundaries Grades Distance SchoolDigger® Rating i
{{forSchool.institutionNameDisplay}} ({{forSchool.institutionTypeDisplay}}) {{forSchool.gradeSpanCode}} {{forSchool.distanceDisplay}} {{forSchool.greatSchoolsTestRatingDisplay}}


Schools nearby Grades Distance SchoolDigger® Rating i
{{nearSchool.institutionNameDisplay}} ({{nearSchool.institutionTypeDisplay}}) {{nearSchool.gradeSpanCode}} {{nearSchool.distanceDisplay}} {{nearSchool.greatSchoolsTestRatingDisplay}}

Data powered by Onboard Informatics. Copyright© 2020. Information deemed reliable but not guaranteed.

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.

Stats for homes in {{marketTrend.postalCity}}, {{marketTrend.stateOrProvince}}

{{marketTrend.medianSalePriceDisplay}} Median Sold
Price
Up arrow
{{marketTrend.recentSalesDisplay}} Recently Sold
Listings
Up arrow
{{marketTrend.medianDaysOnMarket}} Days on
Market
Up arrow
{{marketTrend.activeListingsDisplay}} Active
Listings
Change from prior year (3-month average) Based on information from the applicable Multiple Listing Service for the years indicated. Copyright ©2020. All rights reserved.
  • Population {{marketTrend.populationDisplay}}
  • Population Density (persons per Square Mile) {{marketTrend.populationDensityDisplay}}
  • Median Household Income {{marketTrend.medianHouseholdIncomeDisplay}}
  • Households with Children {{marketTrend.householdsWithChildrenDisplay}}
  • Median Age of Home {{marketTrend.medianAgeOfHomeDisplay}}
  • Owned Homes {{marketTrend.dwellingsOwnedDisplay}}
  • Rented Homes {{marketTrend.dwellingsRentedDisplay}}
  • Vacant Homes {{marketTrend.dwellingsVacantDisplay}}

Currently not available.

Data powered by Onboard Informatics. Copyright© 2020. Information deemed reliable but not guaranteed.

Walk Score

Please enter a valid phone number.
Clear all
*Required field
{{contactForm.message}}

Request Sent

Thank you for your inquiry. We will be in touch shortly regarding your question.

Please enter a valid phone number.

Are you working with an Edina Realty agent?*

Clear all
*Required field

{{scheduleShowing.message}}

Request Sent

Thank you for your inquiry. We will be in touch shortly regarding your question.

Status Definitions

For sale: Properties which are available for showings and purchase

Active contingent: Properties which are available for showing but are under contract with another buyer

Pending: Properties which are under contract with a buyer and are no longer available for showings

Sold: Properties on which the sale has closed.

Coming soon: Properties which will be on the market soon and are not available for showings.

Contingent and Pending statuses may not be available for all listings