Property Listing
Description
Cash flow from day one with a strong positive-leverage spread. 3116 Emerson Ave N is a fully occupied, six-unit mixed-use investment property offering an attractive entry point for the small investor focused on real cash flow—not just future appreciation. Priced at $410,900, the property generates approximately $79,812 in annual scheduled income and $40,083 in-place NOI, producing a 9.75% cap rate. Using the 6.25% financing assumption in the offering memorandum, that represents roughly a 350-basis-point spread between the going-in cap rate and interest rate, creating meaningful positive leverage that is increasingly difficult to find in smaller investment properties. The asset includes four residential apartments and two commercial spaces, providing six separate income streams and diversification beyond a traditional small multifamily property. All six units are currently occupied, while existing rents still provide modest upside: projected market income increases to approximately $84,000 annually, supporting an estimated $45,711 NOI and 11.12% market cap rate. Located on the highly visible corner of Lowry Ave N and Emerson Ave N, the property also benefits from 10 off-street parking stalls serving both residential and commercial tenants. For an investor looking to graduate from duplexes and fourplexes into a larger cash-flowing asset without making the jump to a multi-million-dollar apartment building, this property offers an unusual combination of affordable basis, immediate income, positive leverage, diversified tenancy, and additional rent upside. Buyer Agents to verify all measurements Seller open to seller financing option with QUALIFIED BUYER ONLY!!! Minimum 48 Hr Notices For All Showings! Showings ONLY being approved with Proof of Funds and/or verified approval letter from bank!
Property Information
Status: Active
Sub Type: ********
List Price: $410,900
MLS#: 7143580
Current Price: $410,900
Address: 3116 Emerson Avenue N, Minneapolis, MN 55411
City: Minneapolis
State: MN
Postal Code: 55411
Geo Lat: 45.012825
Geo Lon: -93.293968
Subdivision: Silver Lake Add
County: Hennepin
Property Description
Year Built: 1907
Lot Size SqFt: 6534
Gen Tax: 7385
Specials Inst: 0
High School: Minneapolis
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Below Grade Finished Area: ********
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Total SqFt.: 7167
Style: ********
Total Bedrooms: 3
Total Bathrooms: 3
Total Full Baths: ********
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Garage Stalls: 0
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