7341 62nd Avenue N, Minneapolis, MN 55428 (MLS# 7027214)

General Property Information

Lot Measurement: Acres
Management Company Name: EIG Property Management
Multiple PIDs?: Yes
Other Parking Spaces: 16
Owner Occupied: No
Waterfront Present: No
Year Built: 1962
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 11000
For Sale or Lease: For Sale
Acres: 1.37
Lot Dimensions: 240X490
Assessment Pending: Unknown
Garage Stalls: 0

Property Features

Accessible: None Air Conditioning: Central Air Appliances: Dishwasher; Microwave; Range; Refrigerator Assumable Loan: Yes w/ Qualifying Basement: Partially Finished CMU Style: Apartments/Multi Family; Common Wall Construction Status: Previously Owned Current Use: Residential Existing Financing: Conventional Exterior: Brick Veneer Foundation: Combination Fuel: Natural Gas Heating: Forced Air Loan Terms: Assumable; Cash; Conventional On Site Utilities: Electric Separate; Heating Separate Parking Characteristics: Parking Lot Rental License Type: Standard Sewer: City Sewer/Connected Stories: Two Tenant Pays: Electricity; Gas; Heat; Trash Collection; Water Water: City Water/Connected

Contract Information

Contingency: Subject to Financing
ListPrice: 2300000
Owner is an Agent?: Yes
Auction?: No

Location Tax and Other Information

House Number: 7341
Street Name: 62nd
Street Suffix: Avenue
Street Direction Suffix: N
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55428
Complex/Dev/Subdivision: Lincoln Manor

Additional Parcels Information

Property ID #2: 0511821210130
Property ID #3: 0511821210129,0511821210128,0511821210127,0511821210126,0511821210125,0511821210124,0511821210123,0511821210122,0511821210121,0511821210119,0511821210118,0511821210117,0511821210116,0511821210131

Assessments

Tax With Assessments: 35039
Assessment Balance: 0

More Information

Building Information

Building Finished SqFt: 22000
Building SqFt: 22000

Income and Expenses

Annual Gross Expenses: 180000
Annual Gross Income: 368556
Annual Net Income: 180000
Total Annual Expenses: 199269

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 05/118/21
Section#: 05
Township#: 118

Sale Options

Sale Includes: Building, Land

Unit 1

Unit Number: 16
Monthly Rent: 1732
Full Baths: Yes
Half Baths: Yes
Total Bathrooms: 2
Total Bedrooms: 3
Level: Multi-Level
Unit Total SqFt: 1364
Leased?: Yes
Lease Expiration Date: 2025-06-30

Unit 3

No. of 3 Bedroom Units: 16

Unit Details

Total Units: 16

Office/Member Info

Association: MAAR

Location, Tax and Other Information

Legal Description: LOT 005 BLOCK 001 LINCOLN MANOR
Listing City: New Hope
Map Page: 91
Municipality: New Hope
School District: Robbinsdale
School District Phone: 763-504-8000
Zip Plus 4: 4302
Property ID Number: 0511821210120
Tax Year: 2026
Tax Amount: 35039
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Entire complex of 16 Townhomes offered, all large 3BR 3-Level units with identical layout, including in-unit laundry, central A/C and large backyard. These units are very attractive to renters. Tenants pay separately metered gas and electric. Tenants pay a majority of Water and Trash via Utility RUBS addendum. All 16 units are separate PIDs and so an HOA could be implemented; the units could be sold individually as townhomes, or retained as a multi-family rental complex. Agent is Owner.
Directions: Check your Google Maps.

Accessible

None: Yes

Air Conditioning

Central Air: Yes

Appliances

Dishwasher: Yes
Microwave: Yes
Range: Yes
Refrigerator: Yes

Assumable Loan

Yes w/ Qualifying: Yes

Basement

Partially Finished: Yes

Construction Status

Previously Owned: Yes

Existing Financing

Conventional: Yes

Exterior

Brick Veneer: Yes

Foundation

Combination: Yes

Fuel

Natural Gas: Yes

Heating

Forced Air: Yes

Parking Characteristics

Parking Lot: Yes

Rental License Type

Standard: Yes

Sewer

City Sewer/Connected: Yes

Stories

Two: Yes

Water

City Water/Connected: Yes

No. of Ranges

One Per Unit: Yes

No. of Refrigerators

One Per Unit: Yes

Tenant Pays

Electricity: Yes
Gas: Yes
Heat: Yes
Trash Collection: Yes
Water: Yes

On Site Utilities

Electric Separate: Yes
Heating Separate: Yes

CMU Style

Apartments/Multi Family: Yes
Common Wall: Yes

Current Use

Residential: Yes

Loan Terms

Assumable: Yes
Cash: Yes
Conventional: Yes