1000 5th Street SE, Minneapolis, MN 55414

$2,700,000
Property Type: Commercial Lot Size (sq. ft.): 19,166 Status: Closed
Current Price: $2,700,000 List Date: 10/01/2024 Last Modified: 8/08/2025

Overview

Description

We are pleased to offer a recently developed 26 room, 56-60 bed capacity Multifamily and Special Use building For Sale at the University of Minnesota. Excellent like-new condition inside and out with huge renovations & improvements in 2018 including all new systems and an entire 3rd level added. This property has a communal living setup with 1 bedroom units which can accommodate 2 beds each + excellent common area amenities. This is truly a turn-key opportunity for a new Owner who can offer move-in ready units. The Seller has beds for each room which can be part of the sale (~$60k value). Two units on the 1st floor have restrooms in the unit, all other rooms share large recently renovated communal restrooms on each floor with 3 showers and multiple stalls. Perfect for a communal living use such as mental health/rehabilitation or individual room rentals for student or market rate housing. Convenient Dinkytown location.

Listing Details MLS# 6610616

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Other Parking Spaces
19
Year Built
1952
Yearly/Seasonal
Yearly
Zoning
Business/Commercial, Residential-Multi-Family
Foundation Size
14592
For Sale or Lease
For Sale
Acres
0.44
Lot Dimensions
165x115
Assessment Pending
Unknown
Garage Stalls
0

Property Features

Accessible: None Air Conditioning: Window Unit(s) Basement: Full CMU Style: Freestanding; Mixed Use Construction Status: Previously Owned Current Use: Commercial; Residential Exterior: Brick/Stone Financing Terms: Conventional Fuel: Natural Gas Heating: Boiler; Forced Air Loan Terms: Cash; Conventional Lot Description: Corner Lot On Site Utilities: Electric Common; Heating Common; Hot Water Common Parking Characteristics: Paved Lot; Uncovered/Open Rental License Type: Standard Sewer: City Sewer/Connected Water: City Water/Connected

Contract Information

Digitally Altered Photos
No
Off Market Date
2024-10-01
Closed Date
2024-09-27
Sales Close Price
2700000
Contingency
None
ListPrice
2700000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
1000
Street Name
5th
Street Suffix
Street
Street Direction Suffix
SE
Postal City
Minneapolis
County
Hennepin
State
MN
Zip Code
55414
Complex/Dev/Subdivision
Saint Anthony Falls

Assessments

Tax With Assessments
24651
Assessment Balance
0

Building Information

Building Finished SqFt
14592
Building SqFt
14592

More Information

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Public Survey Info

Range#
24
Section#
24
Township#
29

Sale Options

Sale Includes
Building, Land

Unit Details

Total Units
26

Office/Member Info

Association
MAAR

Location, Tax and Other Information

Legal Description
BLOCK 001 ST ANTHONY FALLS LOT 5 AND NWLY 49 1/4 FT OF LOT 4
Listing City
Minneapolis
Map Page
106
Municipality
Minneapolis
School District
Minneapolis
School District Phone
612-668-0000
Zip Plus 4
1489
Property ID Number
2402924310034
Tax Year
2023
Tax Amount
24651
In Foreclosure?
No
Potential Short Sale?
No
Lender Owned?
No

Directions & Remarks

Public Remarks
We are pleased to offer a recently developed 26 room, 56-60 bed capacity Multifamily and Special Use building For Sale at the University of Minnesota. Excellent like-new condition inside and out with huge renovations & improvements in 2018 including all new systems and an entire 3rd level added. This property has a communal living setup with 1 bedroom units which can accommodate 2 beds each + excellent common area amenities. This is truly a turn-key opportunity for a new Owner who can offer move-in ready units. The Seller has beds for each room which can be part of the sale (~$60k value). Two units on the 1st floor have restrooms in the unit, all other rooms share large recently renovated communal restrooms on each floor with 3 showers and multiple stalls. Perfect for a communal living use such as mental health/rehabilitation or individual room rentals for student or market rate housing. Convenient Dinkytown location.
Directions
Corner of 5th SE & 10th Ave SE near the University of Minnesota

Accessible

None
Yes

Air Conditioning

Window Unit(s)
Yes

Basement

Full
Yes

Construction Status

Previously Owned
Yes

Exterior

Brick/Stone
Yes

Financing Terms

Conventional
Yes

Fuel

Natural Gas
Yes

Heating

Boiler
Yes
Forced Air
Yes

Lot Description

Corner Lot
Yes

Parking Characteristics

Paved Lot
Yes
Uncovered/Open
Yes

Rental License Type

Standard
Yes

Sewer

City Sewer/Connected
Yes

Water

City Water/Connected
Yes

On Site Utilities

Electric Common
Yes
Heating Common
Yes
Hot Water Common
Yes

CMU Style

Freestanding
Yes
Mixed Use
Yes

Current Use

Commercial
Yes
Residential
Yes

Loan Terms

Cash
Yes
Conventional
Yes
Listing Office: RE/MAX Results
IDX
Last Updated: August - 08 - 2025
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.