About 6141 Nicollet Avenue S
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+
Features of 6141 Nicollet Avenue S
| MLS® # | 6699993 |
|---|---|
| Price | $1,730,000 |
| Bathrooms | 0.00 |
| Acres | 0.29 |
| Year Built | 1958 |
| Type | Commercial Sale |
| Sub-Type | Apartment |
| Style | Apartment |
| Status | Active |
Community Information
| Address | 6141 Nicollet Avenue S |
|---|---|
| Area | Windom |
| Subdivision | Nicollet Heights |
| City | Minneapolis |
| County | Hennepin |
| State | MN |
| Zip Code | 55419 |
Amenities
| Garages | Paved |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Appliances | Dishwasher, Range, Refrigerator |
|---|---|
| Heating | Boiler |
| Cooling | Window Unit(s) |
| Fireplace | No |
Exterior
| Roof | Age Over 8 Years, Flat |
|---|---|
| Construction | Brick/Stone |
School Information
| District | Minneapolis |
|---|
Additional Information
| Days on Market | 48 |
|---|---|
| Zoning | Residential-Multi-Family |
| Foreclosure | No |
| Short Sale | No |
Listing Details
| Office | Apartment Cash Flow, Inc. |
|---|