1 24

Wilen Real Estate

6141 Nicollet Avenue, Minneapolis, MN 55419

6141 Nicollet Avenue, Minneapolis, MN 55419

$1,730,000
Commercial Sale
N/A Beds
N/A Baths
N/A SQFT
1,958 Year Built
0.29 Acres
No Waterfront
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 THIS FALL AND INTO SPRING 2026. THE CURRENT IN PLACE CAP RATE OF 7.93% IS BASED ON A NET OPERATING INCOME $137,250+

Listed by: Apartment Cash Flow, Inc.
TALK WITH AN AGENT & SCHEDULE A SHOWING

Mike Wilen
Licensed Real Estate Agent
612-400-9000
info@WilenRealEstate.com
Mike Wilen - Licensed Real Estate Agent
View full details