6141 Nicollet Avenue S, Minneapolis, MN
$1,650,000
12,000
Square feet
0.29
Acres
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 SPRING/SUMMER OF 2026. THE CURRENT IN PLACE CAP RATE OF 8.38% IS BASED ON A NET OPERATING INCOME $138,384.
Features of 6141 Nicollet Avenue S
| MLS® # | 6811146 |
|---|---|
| Price | $1,650,000 |
| Square Footage | 12,000 |
| Acres | 0.29 |
| Year Built | 1960 |
| Type | Commercial |
| Sub-Type | Apartment Building |
| Style | Apartment |
| Status | Active |
| Contingency Type | None |
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 |
| Has Basement | Yes |
| Basement | Finished, Full |
Exterior
| Roof | Age Over 8 Years, Flat |
|---|---|
| Construction | Brick/Stone |
School Information
| District | Minneapolis |
|---|
Additional Information
| Zoning | Residential-Multi-Family |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| Taxes | $23,066 |
| Tax Year | 2025 |
| Office | Apartment Cash Flow, Inc. |
Listing Details
| Office | Apartment Cash Flow, Inc. |
|---|