UPDATED:
11/14/2024 10:34 PM
Key Details
Property Type Condo, Commercial
Sub Type Apartment,Low Rise,Other
Listing Status Active
Purchase Type For Sale
Subdivision Mound Shores
MLS Listing ID 6627694
Year Built 1963
Annual Tax Amount $28,383
Tax Year 2024
Contingent None
Lot Size 0.570 Acres
Acres 0.57
Lot Dimensions 172x143
Property Description
2009 Commerce has 12 units and was built in 1963. 2017 Commerce has 11 units and was built in 1970. Eight studios with current average rent $818 (proforma $995), 15 one bedroom units with current average rent $905 (proforma $1,125). Many long-term residents. 11 units have been updated. Significant upside remaining; current ownership must sell as part of a 1031. Price and surety of close important. Neighboring properties provide potential for future development. Demand vs supply and demographics very strong.
Nearby Mound Westonka ranks #12 in MN. Main intersection of Commerce and Shoreline Drive including Jubilee (grocery), Walgreens, Carbone's Pizzeria Bar and Grille, Anytime Fitness, True Value Hardware, expanding park and plaza with connecting Dakota Rail Trail, public parking ramp and transit center, Ice Arena... and more, less than 0.5 miles away. Great opportunity!
Location
State MN
County Hennepin
Zoning Residential-Multi-Family
Rooms
Family Room Other
Basement Block, Crawl Space, Drainage System, Owner Access, Sump Pump, Unfinished
Interior
Heating Baseboard, Boiler, Hot Water, Radiant, Zoned
Cooling Window Unit(s)
Inclusions Building, Land, Leases
Fireplace No
Appliance Air-To-Air Exchanger, Exhaust Fan, Freezer, Gas Water Heater, Range, Refrigerator, Water Softener Owned
Exterior
Garage Guest Parking, Parking Lot, Paved, Unassigned, Open
Utilities Available Electric Separate, Heating Common, Hot Water Common
Roof Type Age 8 Years or Less,Asphalt,Pitched
Present Use Commercial,Other,Residential
Parking Type Guest Parking, Parking Lot, Paved, Unassigned, Open
Building
Lot Description Public Transit (w/in 6 blks), Infill Lot, Tree Coverage - Light, Underground Utilities
Story Two
Foundation 8000
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
Structure Type Brick/Stone
Schools
School District Westonka
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