1200 Norton Avenue NE, Minneapolis, MN 55432 (MLS# 7098679)

1200 Norton Avenue NE, Minneapolis, MN 55432

$675,000

Property Type: Commercial Bedrooms: 10 Baths: 5 Square Footage: 5,000 Lot Size (sq. ft.): 22,651 Status: Active

Current Price: $675,000 List Date: 6/26/2026 Last Modified: 9/25/2026

Overview

Description

Updated 5-Unit Multifamily Investment Property in Fridley Excellent opportunity to acquire a well-maintained and updated 5-unit residential rental property in Fridley featuring all 2-bedroom, 1-bathroom apartment homes. Each unit has been thoughtfully updated with modern kitchens and bathrooms, creating strong tenant appeal and a clean, move-in-ready rental experience. The property offers a practical unit mix with five spacious 2-bedroom apartments, six garage stalls, and multiple designated off-street parking spaces. These features provide added convenience for residents and valuable income-supporting amenities for ownership. All units have existing leases, some are month-month. Located at 1200 Norton Avenue NE in Fridley, this multifamily asset offers convenient access to major roadways, employment centers, shopping, dining, parks, and everyday services throughout the north metro. With updated interiors, garage parking, designated parking, and a desirable all-2-bedroom configurat ... (Read more)

Listing Details MLS# 7098679

General Property Information

Lot Measurement: Acres
Management Company Name: Self Managed
Multiple PIDs?: No
Other Parking Spaces: 12
Owner Occupied: Yes
Waterfront YN: No
Year Built: 1918
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 1176
Garage Stalls: 6
For Sale or Lease: For Sale
Acres: 0.52
Lot Dimensions: 124x27x144x134x170
Assessment Pending: No

Property Features

Accessible: None Air Conditioning: Window Unit(s) Amenities Shared: Unspecified Amenities Unit: Deck; Kitchen Window; Natural Woodwork Appliances: Dishwasher; Range; Refrigerator Assumable Loan: Not Assumable Basement: Egress Windows; Full CMU Style: Apartments/Multi Family Construction Materials: Frame Construction Status: Previously Owned Current Use: Residential Existing Financing: Conventional Exterior: Stucco Fencing: Wood Foundation: Concrete Block Fuel: Natural Gas Heating: Forced Air Loan Terms: Cash; Conventional; Conventional Rehab On Site Utilities: Electric Separate Parking Characteristics: Assigned; Tuckunder Garage Pool Description: None Potential Use: Income; Office Rent Rate per Foot: Gross Rental License Type: Standard Road Frontage: City Street; Cul De Sac; Paved Streets Road Responsibility: Public Maintained Road Sewer: City Sewer - In Street; City Sewer/Connected Shared Rooms: Guest Suite Stories: Two Tenant Pays: All Utilities Water: City Water - In Street

Contract Information

Contingency: None
ListPrice: 675000
Owner is an Agent?: Yes
Auction?: No

Location Tax and Other Information

House Number: 1200
Street Name: Norton
Street Suffix: Avenue
Street Direction Suffix: NE
Postal City: Minneapolis
County: Anoka
State: MN
Zip Code: 55432
Complex/Dev/Subdivision: Auditors Sub 89

Assessments

Tax With Assessments: 9960

Building Information

Building Finished SqFt: 5000
Building SqFt: 5000

More Information

Income and Expenses

Annual Electric Expense: 960
Annual Fuel Expense: 2160
Annual Gross Expenses: 5760
Annual Gross Income: 88800
Annual Net Income: 83040
Annual Trash Expense: 1800
Annual Water/Sewer Expense: 180
Total Annual Expenses: 5760

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Parking Characteristics

Garage Door Height: 7
Garage Door Width: 8
Garage Square Feet: 1400

Public Survey Info

Range#: 24
Section#: 12
Township#: 30

Sale Options

Sale Includes: Leases

Unit 1

Unit Number: Yes
Monthly Rent: 1450
Full Baths: Yes
Total Bathrooms: Yes
Total Bedrooms: 2
Level: Below Ground
Leased?: Yes
Lease Expiration Date: 2026-07-31

Unit 2

No. of 2 Bedroom Units: 5
Full Baths: Yes
Lease Expiration Date: 2026-10-31
Leased?: Yes
Level: Below Ground
Monthly Rent: 1450
Total Bathrooms: Yes
Total Bedrooms: 2
Unit Number: 2

Unit 3

Full Baths: Yes
Lease Expiration Date: 2026-07-31
Leased?: Yes
Level: Main Level
Monthly Rent: 1750
Total Bathrooms: Yes
Total Bedrooms: 2
Unit Number: 3

Unit 4

Full Baths: Yes
Lease Expiration Date: 2026-07-31
Leased?: Yes
Level: Main Level
Monthly Rent: 1400
Total Bathrooms: Yes
Total Bedrooms: 2
Unit Number: 4

Unit 5

Full Baths: Yes
Lease Expiration Date: 2026-07-31
Leased?: Yes
Level: 2nd Level
Monthly Rent: 1350
Total Bathrooms: Yes
Total Bedrooms: 2
Unit Number: 5

Unit Details

Total Units: 5

Listing Office: Exit Realty Nexus

Last Updated: September - 25 - 2026

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. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.

1200 Norton Avenue NE, Minneapolis, MN 55432 (MLS# 7098679)