2221 15th Avenue S, Minneapolis, MN 55404 (MLS# 6653574)

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 4
Owner Occupied: Yes
Waterfront Present: No
Year Built: 1911
Yearly/Seasonal: Yearly
Zoning: Business/Commercial, Residential-Multi-Family
Foundation Size: 3103
Garage Stalls: 4
For Sale or Lease: For Sale
Acres: 0.17
Lot Dimensions: 56x134
Assessment Pending: Unknown

Property Features

Accessible: None Air Conditioning: Central Air Basement: Full CMU Style: Apartments and Retail; Business Opportunity; Mixed Use Construction Status: Previously Owned Current Use: Commercial; Residential Existing Financing: Free and Clear Exterior: Brick/Stone Financing Terms: Conventional Foundation: Concrete Block Fuel: Natural Gas Heating: Forced Air Lot Description: Corner Lot; Public Transit (w/in 6 blks) On Site Utilities: Electric Separate; Heating Separate; Hot Water Separate Owner Pays: Exterior Maintenance; Insurance; Lawn; Lawn; Maintenance/Repair; Taxes Parking Characteristics: Other Rent Rate per Foot: Per Month Rental License Type: Standard Road Frontage: City Street Road Responsibility: Public Maintained Road Roof: Flat; Pitched; Tar/Gravel Sewer: City Sewer/Connected Stories: Two Tenant Pays: Electricity; Gas Water: City Water/Connected

Contract Information

Off Market Date: 2025-04-07
Closed Date: 2025-05-15
Sales Close Price: 455000
Contingency: None
ListPrice: 499900
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 2221
Street Name: 15th
Street Suffix: Avenue
Street Direction Suffix: S
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55404
Complex/Dev/Subdivision: Eliots Add

Assessments

Tax With Assessments: 8484
Assessment Balance: 0

Building Information

Building Finished SqFt: 6206
Building SqFt: 9833

More Information

Income and Expenses

Annual Gross Income: 54000
Annual Insurance Expense: 6300
Annual Net Income: 41682
Annual Water/Sewer Expense: 1200

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: Yes

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 24
Section#: 35
Township#: 29

Sale Options

Sale Includes: Building, Land, Leases

Unit 1

Unit Number: Yes
Level: Main Level
Leased?: Yes
Lease Expiration Date: 2024-01-31

Unit 2

Lease Expiration Date: 2024-01-31
Leased?: Yes
Level: Main Level
Unit Number: 2

Unit 3

Full Baths: Yes
Lease Expiration Date: 2024-01-31
Leased?: Yes
Level: 2nd Level
Total Bathrooms: Yes
Total Bedrooms: Yes
Unit Number: 3
Unit Total SqFt: 1000

Unit 4

Full Baths: Yes
Lease Expiration Date: 2024-01-31
Leased?: Yes
Level: 2nd Level
Total Bathrooms: Yes
Total Bedrooms: Yes
Unit Number: 4

Unit Details

Total Units: 4

Office/Member Info

Association: MAAR

Location, Tax and Other Information

Legal Description: LOT 006 BLOCK 009 ELIOTS ADDN TO MPLS
Listing City: Minneapolis
Map Page: 106
Municipality: Minneapolis
School District: Minneapolis
School District Phone: 612-668-0000
Zip Plus 4: 3934
Property ID Number: 3502924120108
Tax Year: 2024
Tax Amount: 6688
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Unique opportunity to own nearly 1/4 city block in MPLS! Mixed-use building - currently 2 units on main floor rented by the same long term tenant $2500/month - steady & reliable income. They would prefer to stay. 2 Residential apartments above - 1BR apartment on north side is month to month - $750 (under market). Very large & unique studio apartment is owner occupied with 12 foot ceilings & large roof top deck shared with the other one bedroom apartment - could easily rent for $1250-1500 & could be a 2-3 BR with some additional framing. Large unfinished space in the basement could be added as FSF to the commercial space or be turned into another unit. 4 car+ garage is currently used by the owners, but has been rented to neighbors/tenants in the past for additional income. Close date is flexible.
Directions: Bloomington Ave to 23th St, west to 15th Ave S. Property is on the corner.

Accessible

None: Yes

Air Conditioning

Central Air: Yes

Basement

Full: Yes

Construction Status

Previously Owned: Yes

Existing Financing

Free and Clear: Yes

Exterior

Brick/Stone: Yes

Financing Terms

Conventional: Yes

Foundation

Concrete Block: Yes

Fuel

Natural Gas: Yes

Heating

Forced Air: Yes

Lot Description

Corner Lot: Yes
Public Transit (w/in 6 blks): Yes

Owner Pays

Exterior Maintenance: Yes
Insurance: Yes
Lawn: Yes
Maintenance/Repair: Yes
Taxes: Yes

Parking Characteristics

Other: Yes

Rental License Type

Standard: Yes

Road Frontage

City Street: Yes

Road Responsibility

Public Maintained Road: Yes

Roof

Flat: Yes
Pitched: Yes
Tar/Gravel: Yes

Sewer

City Sewer/Connected: Yes

Stories

Two: Yes

Water

City Water/Connected: Yes

No. of Ranges

Two: Yes

No. of Refrigerators

Two: Yes

Tenant Pays

Electricity: Yes
Gas: Yes

On Site Utilities

Electric Separate: Yes
Heating Separate: Yes
Hot Water Separate: Yes

CMU Style

Apartments and Retail: Yes
Business Opportunity: Yes
Mixed Use: Yes

Current Use

Commercial: Yes
Residential: Yes

Rent Rate per Foot

Per Month: Yes