759 Washington Ave NE
Minneapolis, MN 55418
Learn how Nexus Real Estate Services can help you and your property.Contact Us Today
This is a property I followed and immediately purchased pre-market for $78,000.00 per unit. We ended up completely emptying the building and doing a full common area, parking lot, unit renovation that includes full porcelain bathrooms, new quartz countertops and stainless steel appliances. Within 5 months we completed the renovation and fully leased the property at double the old rental rate. This effectively almost doubled the value of the property in well under one year. We didn’t replace cabinets in this building and also saved the wood flooring. With the units only being 530 SF on average we are around $2.35 a SF in our rental rate for a 1960’s building.