3017 19th Ave S Minneapolis, MN 55407

Listing details for 3017 19th Ave S, Minneapolis, MN 55407 : Located adjacent to South High School, this late 50's construction (known for being well-built) 4 Plex has been very well maintained and professionally managed by an experienced owner to position the property for an easy takeover. Tenants are charged back for water-sewer-trash, units are separately metered for electricity, and the owner pays for gas/heat. Mechanicals, roof, and windows are in good shape leaving no immediate projects for a buyer. There's meat on the bone for an investor to bring the remaining two units to market rent (+$300/M), charge appropriately for a storage closet and large storage room in the basement (+$200/M), charge for parking (+$125/M). This brings potential income close to $70,000/ year! The owner is looking to complete a 1031 exchange, and if not for that opportunity, they would likely keep it as it runs so smoothly. Units have quickly rented when turned over.