2545 Cedar Ave S, Minneapolis

$399,000

6 Beds
2 Baths
3,200 Sqft
.24 Acres
2 Garages

Cash flowing up/down duplex in South MPLS. Both units leased through end of May 2020, top unit for $1,900/mo and bottom unit for $1,690/mo. Top unit tenant has renewed lease through May 2021 at $1,950/mo and bottom unit would like to renew year long lease if new owner does not owner occupy. Never been
vacant! Close to light rail, colleges, and short drive to downtown MPLS & Downtown St. Paul. Split gas &
electricity for both units, paid by tenants. Great option for an owner occupant or investor looking to add to their portfolio. Both large 3bed/1bath units. The upstairs unit has additional bonus space. Coin operated laundry on site. There are a couple major value add opportunities with adding a potential 3rd unit in the basement and the potential to split the double lot and sell or develop the new lot.

***Video footage available upon request. Please reach out to listing agent, Lars Anderson.

Essential Information
MLS® #5505680
Price$399,000
Bedrooms6
Bathrooms2.00
Square Footage3,200
Acres0.24
Year Built1912
TypeMulti-Family
Sub-Type(MF) Duplex Up and Down
Style(MF) Duplex Up and Down
StatusActive
Community Information
Address2545 Cedar Ave S
AreaEast Phillips
SubdivisionAuditors Sub 016
CityMinneapolis
CountyHennepin
StateMN
Zip Code55404
Amenities
AmenitiesCoin-op Laundry Owned
# of Garages2
GaragesDetached Garage
Interior
HeatingHot Water, Boiler
Exterior
ExteriorWood
RoofAsphalt Shingles
ConstructionPreviously Owned
Foundation1292
Lot Description

Tree Coverage - Medium, City Bus (w/in 6 blks), Corner Lot

School Information
District1 - Minneapolis
Additional Information
Date ListedMarch 13th, 2020
Days on Market11
ZoningResidential-Multi-Family
Listing Details
OfficeRE/MAX Results
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Listing information last updated on March 31st, 2020 at 6:24pm CDT.