5th Street 11-Unit

For Sale

515 5th Street SE, Minneapolis, MN 55414

This Minneapolis property for sale is located at 515 5th Street SE. The current listed sale price for 5th Street 11-Unit is $1,600,000. 5th Street 11-Unit is situated on a lot that is 0.25 acre in size.

Contacts

broker

Chad Heer

KW Commercial - Roseville, MN

(612) 963-5147

Property Details

  • Property Type Multi-Family
  • Property Size 7,776 SF
  • Units 11
  • Lot Size 0.25 Acre
  • Property Tenancy Multi-Tenant
  • Year Built 1960
  • Date Updated Apr 3, 2024
Wonderful location, with tons of nearby restaurants & amenities and close to the U of MN. 35 W to 4th St Exit to 5th Ave, to 5th Street SECome see this rarely available, easy to manage brick 11 unit apartment building right next to the U of M campus! All units are two bedrooms in addition to a brand new basement 3 bedroom unit. This property is neat, tidy, square, and easy to maintain with full brick exterior and newer flat roof. Huge rear parking lot with space for every unit. Mechanicals have been meticulously maintained. Long term owner who has been very active in maintaining great condition throughout. Never have an issue with vacancy again! This location is special, easy to rent, and quiet. Don't miss out on this opportunity. Centrally located and easy to manage 11-Unit apartment building near the University of MN campus! Majority of the units are 2-BR with one being a hard to find 3-BR that has been recently updated. This property is in solid condition with longstanding tenants in place and an opportunity for rent increases over time as current tenants vacate. Full brick exterior and a newer flat roof. Park off-street in the rear parking lot behind building, with plenty of space for each unit. Well maintained mechanicals and solid ownership. Boiler Heat and Natural Gas Fuel. Residential/Multi-Family zoning. Public Transportation is within walking distance to building. This is a quiet and well leased location for your next investment property. Tenants pay for Electric & Phone/Internet. Landlord pays for all other building expenses.

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Highlights

  • 11 Units
  • Close to the University of MN
  • Easy to manage
  • Tons of upside with rent increases and utilities moved to tenants
  • Sale Price: $1,600,000
  • Unit Mix:
  • 10, 2 BR & 1 BA Units
  • 1, 3BR & 1 BA Units
  • Lot Size: 10,978 SF
  • Building Size: 7,776 SF
  • Year Built: 1960

Getting around

  • 85/100

    Walk Score ®

  • 63/100

    Transit Score ®

  • 99/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Minneapolis, MN
  • Neighborhood Marcy Holmes
  • Zip Code 55414
  • Market Minneapolis St Paul

Points of Interest

  • West Bank

    1.01 miles

  • U.S. Bank Stadium

    1.03 miles

  • Government Plaza

    1.15 miles

  • East Bank

    1.16 miles

  • Nicollet Mall

    1.26 miles

  • Cedar-Riverside

    1.27 miles

  • Warehouse District/Hennepin Avenue

    1.37 miles

  • Stadium Village

    1.42 miles

  • Target Field

    1.51 miles

  • Target Field - Platform 1

    1.52 miles

  • Holiday

    0.37 miles

  • ChargePoint

    0.86 miles

  • Nelson Auto World

    0.89 miles

  • Bobby and Steve's Auto World

    0.89 miles

  • Speedway

    1.15 miles

  • Greenlots

    1.19 miles

  • Tesla Supercharger

    1.52 miles

  • Speedway

    1.54 miles

  • Tesoro

    1.59 miles

  • Holiday

    1.64 miles

  • St. Anthony Falls Ramp

    0.38 miles

  • C-44

    0.46 miles

  • C-45

    0.48 miles

  • C-42

    0.51 miles

  • C-43

    0.53 miles

  • 1308 5th Street SE Garage

    0.60 miles

  • Mill Ruins Parking

    0.63 miles

  • C-48

    0.69 miles

  • C-47

    0.69 miles

  • C-20

    0.70 miles

  • University Inn

    0.34 miles

  • Wales House

    0.47 miles

  • Nicollet Island Inn

    0.68 miles

  • Aloft Minneapolis

    0.80 miles

  • Residence Inn at the Depot

    0.86 miles

  • Courtyard Minneapolis Downtown

    0.88 miles

  • Canopy by Hilton Minneapolis Mill District

    0.90 miles

  • The Depot Renaissance Minneapolis Hotel

    0.91 miles

  • Radisson RED Minneapolis Downtown

    0.95 miles

  • The Hotel Minneapolis

    1.15 miles

  • Lunds & Byerlys

    0.43 miles

  • Target

    0.65 miles

  • Trader Joe's

    0.85 miles

  • Whole Foods Market

    1.13 miles

  • Gaviidae Common

    1.36 miles

  • Saks Fifth Avenue

    1.38 miles

  • Marshalls

    1.40 miles

  • Union 73

    1.41 miles

  • City Center

    1.42 miles

  • Cub Foods

    1.48 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Chad Heer

KW Commercial - Roseville, MN

(612) 963-5147