2545 Cedar Avenue S, Minneapolis, MN 55404 (MLS# 5691559)



$390,000
2545 Cedar Avenue S
Minneapolis, MN 55404
MLS# 5691559
Status: Closed
6 beds  |  2 baths


2545 Cedar Avenue S, Minneapolis, MN 55404
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Property Description
A MUST SEE up/down duplex in South MPLS on a large double lot! Original hardwood floors, charming built ins, and spacious units with a lot of natural sunlight. This property has been well maintained and definitely shows pride in ownership. High demand area close to light rail, colleges, restaurants and short drive to downtown MPLS & Downtown St. Paul. Tenants in both units as this property has never been vacant! Split HEAT/ELECTRIC, paid by tenants. Great option for an investor looking to add major cash flow to their portfolio. Both large 3bed/1bath units and the upstairs unit has two additional bonus spaces. Property also offers a two stall garage and coin-operated laundry on site. Value add opportunities with adding a potential 3rd unit, or additional bedroom, in the basement and the potential to split the double lot and sell or develop the new lot.

Details
Maps
Documents
None
Allow Auto Valuation Display?: Yes
Allow Consumer Comment: No
MLSID: RMLS
Contract Information
Availability: Unavailable
Status: Closed
Off Market Date: 2021-01-11
Contingency: None
Current Price: $403,000
Original List Price: 390000
Sales Close Date: 2021-03-04
ListPrice: 390000
Sales Close Price: 403000
List Date: 2020-12-09
Owner is an Agent?: No
Auction?: No
Office/Member Info
Association: MAAR
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Waterfront Present: No
Year Built: 1912
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Bedrooms: 6
Bath Full: 2
Baths Total: 2
FireplaceYN: No
Foundation Size: 1292
Style: Duplex Up and Down
Total Finished Sqft: 3200.00
Garage Stalls: 2
Lot Dimensions: 85x127
Acres: 0.24
Assessment Pending: No
Location, Tax and Other Information
Legal Description: AUDITOR'S SUBD. NO. 016 LOTS 17 AND 18
Map Page: 106
School District Phone: 612-668-0000
House Number: 2545
Street Name: Cedar
Street Suffix: Avenue
Street Direction Suffix: S
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55404
Zip Plus 4: 4019
Map Coordinate Source: King's Street Atlas
Property ID Number: 3602924230033
Complex/Dev/Subdivision: Auditors Sub 016
Tax Year: 2020
In Foreclosure?: No
Tax Amount: 5683
Potential Short Sale?: No
Lender Owned?: No
Tax With Assessments: 5683
Directions & Remarks
Public Remarks: A MUST SEE up/down duplex in South MPLS on a large double lot! Original hardwood floors, charming built ins, and spacious units with a lot of natural sunlight. This property has been well maintained and definitely shows pride in ownership. High demand area close to light rail, colleges, restaurants and short drive to downtown MPLS & Downtown St. Paul. Tenants in both units as this property has never been vacant! Split HEAT/ELECTRIC, paid by tenants. Great option for an investor looking to add major cash flow to their portfolio. Both large 3bed/1bath units and the upstairs unit has two additional bonus spaces. Property also offers a two stall garage and coin-operated laundry on site. Value add opportunities with adding a potential 3rd unit, or additional bedroom, in the basement and the potential to split the double lot and sell or develop the new lot.
Directions: Hiawatha Avenue to East 26th Street, West to home, on the corner of Cedar and East 26th Street.
Currently Not Used
Rental License?: Yes
Building Information
Finished SqFt Above Ground: 3200
Green Verification
Green Certification: No
Income and Expenses
Annual Gross Income: 46080
Annual Trash Expense: 500
Annual Water/Sewer Expense: 2080
Miscellaneous Information
DP Resource: Y
FIPS Code: 27053
Homestead Desc: Other
Public Survey Info
Range#: 24
Section#: 36
Township#: 29
Unit 1
Annual Rent: 21480
Bedroom 1 Dimen: 10x10
Bedroom 1 Level: Main
Bedroom 2 Dimen: 13x10
Bedroom 2 Level: Main
Bedroom 3 Dimen: 11x10
Bedroom 3 Level: Main
Dining Room Dimen: 15x12
Dining Room Level: Main
Finished SqFt: 1292
Full Baths: 1
Kitchen Dimen: 11x11
Kitchen Level: Main
Living Room Dimen: 15x14
Living Room Level: Main
Monthly Rent: 1790
No. of Units Like This: 1
Total Baths: 1
Total Bedrooms: 3
Total Rooms: 7
Unit 2
Annual Rent: 23400
Bedroom 1 Dimen: 10x10
Bedroom 1 Level: Upper
Bedroom 2 Dimen: 13x10
Bedroom 2 Level: Upper
Bedroom 3 Dimen: 11x10
Bedroom 3 Level: Upper
Dining Room Dimen: 15x12
Dining Room Level: Upper
Extra Room 1: Sun Room
Extra Room 1 Dimen: 22x8
Extra Room 1 Level: Upper
Extra Room 2: Foyer
Extra Room 2 Dimen: 10x7
Extra Room 2 Level: Upper
Extra Room 3: Bonus Room
Extra Room 3 Dimen: 23x10
Extra Room 3 Level: Third
Extra Room 4: Bonus Room
Extra Room 4 Dimen: 15x14
Extra Room 4 Level: Third
Finished SqFt: 1908
Full Baths: 1
Kitchen Dimen: 11x11
Kitchen Level: Upper
Living Room Dimen: 15x14
Living Room Level: Upper
Monthly Rent: 1950
No. of Units Like This: 1
Total Baths: 1
Total Bedrooms: 3
Total Rooms: 10
Unit Details
Total Units: 2
Property Features
Accessible: None
Amenities Shared: Coin-op Laundry Owned
Basement: Full
Construction Status: Previously Owned
Exterior: Stucco; Wood
Fencing: Chain Link; Full
Financing Terms: Conventional
Fuel: Natural Gas
Heating: Boiler; Hot Water
Lock Box Type: Combo
Lot Description: Corner Lot; Public Transit (w/in 6 blks); Tree Coverage - Medium
Neighborhood Name: East Phillips
No. of Ranges: Two
No. of Refrigerators: Two
Owners Expense: Insurance; Taxes; Trash Collection
Parking Characteristics: Detached Garage; Driveway - Concrete
Rental License Type: Standard
Road Frontage: City Street
Roof: Asphalt Shingles
Sellers Terms: Cash; Conventional; DVA; FHA; Other
Sewer: City Sewer/Connected
Shared Rooms: Other
Stories: More Than 2 Stories
Tenant Expenses: Electricity; Fuel
Unit 1: Bedroom 1; Bedroom 2; Bedroom 3; Dining Room; Kitchen; Living Room
Unit 1 Amenities: Hardwood Floors; Porch
Unit 1 Appliances: Range; Refrigerator
Unit 1 Bath Char: Main Floor Full Bath
Unit 1 Cooling: Window
Unit 1 Dining Desc: Separate/Formal Dining Rm
Unit 2: Bedroom 1; Bedroom 2; Bedroom 3; Dining Room; Kitchen; Living Room
Unit 2 Amenities: Hardwood Floors
Unit 2 Appliances: Range; Refrigerator
Unit 2 Bath Char: Upper Level Full Bath
Unit 2 Cooling: Window
Unit 2 Dining Desc: Separate/Formal Dining Rm
Water: City Water/Connected

Listing Office: RE/MAX Results

Last Updated: September - 20 - 2021

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2020 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.

Saturday 23rd of October 2021 11:58 AM