3606 E 34th Street, Minneapolis, MN 55406 (MLS# 7068138)

General Property Information

Lot Measurement: Acres
Management Company Name: Self Managed
Multiple PIDs?: No
Other Parking Spaces: 6
Owner Occupied: No
Waterfront Present: No
Year Built: 1963
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 1750
Power Company: Xcel Energy
For Sale or Lease: For Sale
Acres: 0.13
Lot Dimensions: 74 x 75
Assessment Pending: No
Garage Stalls: 0

Property Features

Accessible: None Air Conditioning: Wall Unit(s) Appliances: Dishwasher; Range; Refrigerator Assumable Loan: Not Assumable Basement: Concrete Block; Egress Windows; Full CMU Style: Apartments/Multi Family Construction Materials: Block; Brick Construction Status: Previously Owned Current Use: Residential Exterior: Brick/Stone; Stucco Fencing: None Flooring: Luxury Vinyl Plank; Tile Foundation: Concrete Block Fuel: Natural Gas Heating: Boiler; Hot Water; Zoned Loan Terms: Cash; Conventional Lock Box Type: None On Site Utilities: Electric Separate; Heating Common; Hot Water Common Owner Pays: Heat; Insurance; Maintenance/Repair; Sewer; Taxes; Trash Collection; Water Parking Characteristics: Paved Lot Potential Use: Income Rent Rate per Foot: Per Month Rental License Type: Standard Road Frontage: City Street; Paved Streets Road Responsibility: Public Maintained Road Roof: Age Over 8 Years; Flat Sewer: City Sewer/Connected Stories: Three Or More Tenant Pays: Broadband; Cable TV; Electricity Topography: Level Water: City Water/Connected

Contract Information

Contingency: None
ListPrice: 750000
Owner is an Agent?: Yes
Auction?: No

Location Tax and Other Information

House Number: 3606
Street Direction Prefix: E
Street Name: 34th
Street Suffix: Street
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55406
Complex/Dev/Subdivision: Auditors Sub 237

Assessments

Tax With Assessments: 10988
Assessment Balance: 0
Assessment Installment: 0

Building Information

Building Finished SqFt: 5500
Building SqFt: 5500
Ceiling Height: 8-10

More Information

Income and Expenses

Annual Fuel Expense: 2040
Annual Gross Expenses: 29708
Annual Gross Income: 94500
Annual Insurance Expense: 6960
Annual Maintenance Expense: 2400
Annual Net Income: 64791
Annual Trash Expense: 4560
Annual Water/Sewer Expense: 2760
Total Annual Expenses: 29708
Annual Caretaker Expense: 0
Annual Electric Expense: 0

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 23
Section#: 06
Township#: 28

Sale Options

Sale Includes: Building, Land, Leases, Rental License

Unit 1

No. of 1 Bedroom Units: 5

Unit Details

Total Units: 6

Unit Information

No. of Efficiency Units: Yes

Office/Member Info

Association: SPAAR

Location, Tax and Other Information

Legal Description: LOT 175 AUDITOR'S SUBD. NO. 237 E 73.7 FT OF LOT 175
Listing City: Minneapolis
Map Page: 121
Municipality: Minneapolis
School District: Minneapolis
School District Phone: 612-668-0000
Property ID Number: 0602823240229
Tax Year: 2026
Tax Amount: 10988
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Spectacular six unit recently renovated with all new kitchens and bathrooms. Unit mix is five one-bedroom and one studio apartment all with one full bathroom. Three story all-brick exterior, sitting on 0.13+ acres with off street parking lot. 100% fully rented with on-site coin operated laundry and a newer water heater and high efficiency boiler. The average one-bedroom rents are $1,296 and the studio is at $1,195. This asset is in turn-key condition with a stabilized in place cap rate of 8.63% along with a 7.94 gross rent multiplier. Perfect for the first time investor or for your next 1031 tax exchange.
Directions: Hiawatha Ave to East 32nd Street / Go East to 36th Avenue South / South to 34th Street East / Across from Longfellow Park

Accessible

None: Yes

Air Conditioning

Wall Unit(s): Yes

Appliances

Dishwasher: Yes
Range: Yes
Refrigerator: Yes

Assumable Loan

Not Assumable: Yes

Basement

Concrete Block: Yes
Egress Windows: Yes
Full: Yes

Construction Materials

Block: Yes
Brick: Yes

Construction Status

Previously Owned: Yes

Exterior

Brick/Stone: Yes
Stucco: Yes

Fencing

None: Yes

Flooring

Luxury Vinyl Plank: Yes
Tile: Yes

Foundation

Concrete Block: Yes

Fuel

Natural Gas: Yes

Heating

Boiler: Yes
Hot Water: Yes
Zoned: Yes

Lock Box Type

None: Yes

Owner Pays

Heat: Yes
Insurance: Yes
Maintenance/Repair: Yes
Sewer: Yes
Taxes: Yes
Trash Collection: Yes
Water: Yes

Parking Characteristics

Paved Lot: Yes

Rental License Type

Standard: Yes

Road Frontage

City Street: Yes
Paved Streets: Yes

Road Responsibility

Public Maintained Road: Yes

Roof

Age Over 8 Years: Yes
Flat: Yes

Sewer

City Sewer/Connected: Yes

Stories

Three Or More: Yes

Topography

Level: Yes

Water

City Water/Connected: Yes

No. of Ranges

One Per Unit: Yes

No. of Refrigerators

One Per Unit: Yes

Tenant Pays

Broadband: Yes
Cable TV: Yes
Electricity: Yes

On Site Utilities

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

CMU Style

Apartments/Multi Family: Yes

Current Use

Residential: Yes

Loan Terms

Cash: Yes
Conventional: Yes

Potential Use

Income: Yes

Rent Rate per Foot

Per Month: Yes