228 40th Avenue NE, Minneapolis, MN 55421
$730,000
Property Type:
Commercial
Bedrooms:
14
Baths:
8
Square Footage:
6,600
Lot Size (sq. ft.):
15,682
Status:
Closed
Current Price:
$730,000
List Date:
6/17/2025
Last Modified:
10/16/2026
Overview
Description
Listing Details MLS# 6739026
General Property Information
- Lot Measurement
- Acres
- Multiple PIDs?
- No
- Other Parking Spaces
- 8
- Owner Occupied
- No
- Waterfront YN
- No
- Year Built
- 1962
- Yearly/Seasonal
- Yearly
- Zoning
- Business/Commercial
- Foundation Size
- 3300
- For Sale or Lease
- For Sale
- Acres
- 0.36
- Lot Dimensions
- 80x198
- Assessment Pending
- No
Property Features
Accessible:
None
Amenities Shared:
Coin-op Laundry Owned
Assumable Loan:
Not Assumable
CMU Style:
Apartments/Multi Family
Construction Status:
Previously Owned
Current Use:
Residential
Exterior:
Brick/Stone; Stucco
Financing Terms:
Conventional
Foundation:
Concrete Block
Fuel:
Natural Gas
Heating:
Baseboard; Boiler
Loan Terms:
Cash; Conventional; Other
On Site Utilities:
Electric Separate; Heating Common; Hot Water Common
Owner Pays:
Common Area Maintenance; Gas; Grounds Care; Heat; Hot Water; Insurance; Maintenance/Repair; Trash Collection; Water
Parking Characteristics:
Paved Lot
Road Frontage:
City Street
Road Responsibility:
Public Maintained Road
Roof:
Asphalt Shingles
Sewer:
City Sewer/Connected
Stories:
Two
Tenant Pays:
Electricity; See Remarks; Trash Collection; Water
Water:
City Water/Connected
Contract Information
- Off Market Date
- 2025-09-05
- Closed Date
- 2025-10-15
- Sales Close Price
- 730000
- Contingency
- None
- ListPrice
- 769900
- Owner is an Agent?
- No
- Auction?
- No
Location Tax and Other Information
- House Number
- 228
- Street Name
- 40th
- Street Suffix
- Avenue
- Street Direction Suffix
- NE
- Postal City
- Minneapolis
- County
- Anoka
- State
- MN
- Zip Code
- 55421
- Complex/Dev/Subdivision
- Rear Bl E Col Heights Annex
Assessments
- Tax With Assessments
- 15847
Building Information
- Building Finished SqFt
- 6500
- Building SqFt
- 6600
More Information
Income and Expenses
- Annual Electric Expense
- 380
- Annual Fuel Expense
- 4937
- Annual Gross Income
- 100332
- Annual Insurance Expense
- 6358
- Annual Maintenance Expense
- 3500
- Annual Net Income
- 59677
- Annual Repair Expense
- 2000
- Annual Trash Expense
- 2869
- Annual Water/Sewer Expense
- 5079
Lease Details
- Land Leased
- Not Applicable
Miscellaneous Information
- Homestead
- No
Ownership
- Fractional Ownership
- No
Public Survey Info
- Range#
- 24
- Section#
- 35
- Township#
- 30
Sale Options
- Sale Includes
- Building, Leases
Unit 1
- Unit Number
- Yes
- Monthly Rent
- 1125
- Full Baths
- Yes
- Total Bathrooms
- Yes
- Total Bedrooms
- 2
- Leased?
- Yes
- Lease Expiration Date
- 2026-03-31
Unit 2
- No. of 2 Bedroom Units
- 7
- Full Baths
- Yes
- Lease Expiration Date
- 2025-08-31
- Leased?
- Yes
- Monthly Rent
- 1075
- Total Bathrooms
- Yes
- Total Bedrooms
- 2
- Unit Number
- 2
Unit 3
- Full Baths
- Yes
- Lease Expiration Date
- 2025-08-31
- Leased?
- Yes
- Monthly Rent
- 1050
- Total Bathrooms
- Yes
- Total Bedrooms
- 2
- Unit Number
- 3
Unit 4
- Full Baths
- Yes
- Lease Expiration Date
- 2025-08-31
- Leased?
- Yes
- Monthly Rent
- 835
- Total Bathrooms
- Yes
- Unit Number
- 4
Unit 5
- Full Baths
- Yes
- Lease Expiration Date
- 2025-08-31
- Leased?
- Yes
- Monthly Rent
- 1025
- Total Bathrooms
- Yes
- Total Bedrooms
- 2
- Unit Number
- 5
Unit 6
- Full Baths
- Yes
- Lease Expiration Date
- 2025-10-31
- Leased?
- Yes
- Monthly Rent
- 950
- Total Bathrooms
- Yes
- Total Bedrooms
- 2
- Unit Number
- 6
Unit 7
- Full Baths
- Yes
- Lease Expiration Date
- 2025-08-31
- Leased?
- Yes
- Monthly Rent
- 1035
- Total Bathrooms
- Yes
- Total Bedrooms
- 2
- Unit Number
- 7
Unit 8
- Full Baths
- Yes
- Lease Expiration Date
- 2026-03-31
- Leased?
- Yes
- Monthly Rent
- 840
- Total Bathrooms
- Yes
- Total Bedrooms
- 2
- Unit Number
- 8
Unit Details
- Total Units
- 8
Unit Information
- No. of Efficiency Units
- Yes
Listing Office:
RE/MAX Results
Last Updated: October - 16 - 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.