2204 Emerson Avenue N, Minneapolis, MN 55411

Property Description

Renovated five-unit apartment building featuring all two-bedroom, one-bath units. Taken down to the studs in 2023 with $386,042 in documented improvements, including a new 30-year roof, PEX plumbing, new gas lines to each unit, six-zone boiler, updated electrical, new windows, granite countertops, new cabinetry, stainless steel appliances, and LVP flooring. Security features include hardwired smoke and CO detectors, digital keypad entry, an alarmed steel rear door, and security cameras. Gas and electric are separately metered and tenant-paid; water, sewer, and trash are recovered through RUBS. Four garage stalls and on-site laundry. Minneapolis Tier 1 rental license. **Investors:** Projected pro forma NOI of $55,600, reflecting an 8.0% cap rate. **Owner-users:** Former group home use, well-suited for a housing program operator. Metro Transit Route 5 at the corner and METRO D Line two blocks south. Full offering memorandum available.