701 W Lake Street Minneapolis, MN 55408

$1,950,000 N/A N/A
Price Bedrooms Bathrooms
Price has not changed since being added to site on 7/7/2020
Status: Active

MLS #: 5617158

Mixed Use Sq. Feet: N/A
On Site: 202 Days Lot Size: N/A
City: See All Properties for Sale in Minneapolis
DESCRIPTION
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Previous buyer got Corona-Jitters. Mixed use apartment and retail/restaurant building at the southwest corner of Lyndale and Lake in Minneapolis' popular Uptown neighborhood. Prieto Taquria bar/restaurant is on a 10-year NNN lease with 2% annual increases. 3 of 4 apartment units were upgraded in 2017. HVAC for the restaurant is separate. 4/4 apt units have been updated, entire building has been renovated. Mechanical is in great working condition. The remodeled apartments are really nice sizes. Buyer and buyer's agent to verify all info. and measurements. Please contact broker for CA and offering memorandum. Clean phase 1, 2 and soil samples. Turn Key investment.
FEATURES / AMENITIES
Heating: Forced Air
Fuel: Natural Gas, Electric
PROPERTY FEATURES
Lot Dimensions: 80 X 45
Parking Features: On-Street Parking Only
Utilities: Heating Separate, Electric Separate, Electric Common, Hot Water Separate
Sewer: City Sewer - In Street
Water: City Water - In Street
Zoning: Business/Commercial,Residential-Multi-Family
Directions: Corner of Lyndale and West Lake Street in Minneapolis' Uptown/Lyn-Lake neighborhood.
COMMUNITY, TAX AND RELATED INFO
School District: Minneapolis
County: Hennepin
Sale Includes: Leases, Building, Land
Tax Year: 2019
Tax Annual Amount: $40, 374
Gross Income: $209, 493
Net Income: $145, 152
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Listing Information Last Updated 1/24/2021
© Copyright 2021 Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. 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 the owner of this website are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. The Broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. Information deemed reliable but is not guaranteed.
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Property Summary

701 W Lake Street
Minneapolis, MN 55408

MLS®: 5617158

List Price: $1,950,000

Description:

MLS® 5617158: This property at 701 W Lake Street, Minneapolis, MN 55408 is located in the South Uptown subdivision and is listed for $1,950,000. MLS® 5617158 has been on the market for 201 days.