6141 Nicollet AVE S, Minneapolis, MN 55419
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6141 Nicollet AVE S, Minneapolis, MN 55419
6141 Nicollet AVE S, Minneapolis, MN 55419
6141 Nicollet AVE S, Minneapolis, MN 55419
6141 Nicollet AVE S, Minneapolis, MN 55419
Jake Waldman
Jake Waldman

Advisor | License ID: 40751253

+1(612) 281-4313

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$ 1,557,500

$ 1,650,000 5.6%

Est. payment /mo
Sold on 04/03/2026

6141 Nicollet AVE S Minneapolis, MN 55419

23 Beds

11 Baths

UPDATED:

Key Details

Sold Price $1,557,500

Property Type Commercial

Listing Status Sold

Purchase Type For Sale

Subdivision Nicollet Heights

MLS Listing ID 6811146

Sold Date 04/03/26

Bedrooms 23

Year Built 1960

Annual Tax Amount $23,066

Tax Year 2025

Contingent None

Lot Dimensions 80 x100

Property Description

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 8.9% IS BASED ON A NET OPERATING INCOME $146,772.

Location

State MN

County Hennepin

Zoning Residential-Multi-Family

Rooms

Basement Finished, Full

Interior

Heating Boiler

Cooling Window Unit(s)

Flooring Carpet, Tile, Vinyl, Wood

Fireplace No

Appliance Dishwasher, Range, Refrigerator

Exterior

Parking Features Paved Lot

Fence None

Pool None

Utilities Available Electric Separate, Heating Common, Hot Water Common

Roof Type Age Over 8 Years,Flat

Present Use Residential

Building

Lot Description Corner Lot

Story Three Or More

Foundation 4000

Sewer City Sewer/Connected

Water City Water/Connected

Level or Stories Three Or More

Structure Type Block,Brick

New Construction false

Schools

School District Minneapolis

Listed by Nathan Opatz • Apartment Cash Flow, Inc.

NEARBY SCHOOLS & PROPERTIES

Jake Waldman

Jake Waldman

Advisor | License ID: 40751253

+1(612) 281-4313

GET MORE INFORMATION

Name
Phone*
Message

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6141 Nicollet AVE S