MLS# NST7143580 - 3116 Emerson Avenue N Minneapolis, MN 55411

Keller Williams Premier Realty is the brokerage office representing the seller for this listing.
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{"Id":612241,"ORGTABLE":"RAW_Property","MLSCLASS":"COM","MLSNUMBER":"NST7143580","MLSAGENTID":"NST502239675","MLSCOAGENTID":"NST502212277","MLSOFFICEID":"NST9705","ADDRESS":"3116 Emerson Avenue N","ACRES":0.15,"AGENTOWNER":false,"AUCTIONYN":false,"BATHSTOTAL":3.0,"BEDROOMS":3.0,"CITY":"Minneapolis","CONTINGENCY":"None","COUNTY":"Hennepin","CURRENTUSE":"Beauty/Barber Shop,Church,Residential","DISTRIBUTEADDRESSTOINTERNET":true,"DISTRIBUTETOINTERNET":true,"FORECLOSURE":"No","LASTPRICE":410900.0,"LASTPRICEDATE":"2026-09-13T15:08:07.067","LATITUDE":45.012825,"LENDEROWNED":"No","LISTDATE":"2026-09-13T05:00:00","LISTPRICE":410900.0,"LIVINGAREA":7167.0,"LONGITUDE":-93.293968,"MODIFICATIONTIMESTAMP":"2026-09-13T15:30:07.577","NEIGHBORHOOD":"31","OFFICE_OFFICENAME":"Keller Williams Premier Realty","PHOTOCOUNT":35,"POSTALCODE":"55411","POTENTIALSHORTSALE":"No","PRESENTUSE":"Yearly","PUBLICREMARKS":"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.\nThe 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.\nBuyer Agents to verify all measurements\nSeller open to seller financing option with QUALIFIED BUYER ONLY!!! \nMinimum 48 Hr Notices For All Showings!\nShowings ONLY being approved with Proof of Funds and/or verified approval letter from bank!","ROADBETWEENWATERFRONTANDHOMEYN":false,"SALEINCLUDES":"Building,Leases,Rental License","SCHOOLDISTRICTNUMBER":"1-Minneapolis","SCHOOLDISTRICTPHONE":"6126680000","SEWER":"City Sewer/Connected","STATEORPROVINCE":"MN","STATUS":"Active","STATUSDATE":"2026-09-13T15:08:07.067","LASTSTATUS":"Active","STREETDIRSUFFIX":"N","STREETNAME":"Emerson","STREETNUMBER":"3116","STREETSUFFIX":"Avenue","TRANSACTIONTYPE":"For","WATER":"City Water/Connected","WATERFRONTPRESENT":false,"YEARBUILT":1907,"ZONING":"Business/Commercial,Residential-Multi-Family,Other","HASOPENHOUSE":false,"PHOTOTIMESTAMP":"2026-09-13T15:30:07.577","PHOTOREMARKS":"[{\"Order\":1,\"Remarks\":\"DJI_0861.jpg\"},{\"Order\":2,\"Remarks\":\"DJI_0850.jpg\"},{\"Order\":3,\"Remarks\":\"DJI_0852.jpg\"},{\"Order\":4,\"Remarks\":\"DJI_0853.jpg\"},{\"Order\":5,\"Remarks\":\"DJI_0854.jpg\"},{\"Order\":6,\"Remarks\":\"DJI_0855.jpg\"},{\"Order\":7,\"Remarks\":\"DJI_0857.jpg\"},{\"Order\":8,\"Remarks\":\"DJI_0863.jpg\"},{\"Order\":9,\"Remarks\":\"DJI_0864.jpg\"},{\"Order\":10,\"Remarks\":\"DSC03100.jpg\"},{\"Order\":11,\"Remarks\":\"DSC03108.jpg\"},{\"Order\":12,\"Remarks\":\"DSC03113.jpg\"},{\"Order\":13,\"Remarks\":\"DSC03124.jpg\"},{\"Order\":14,\"Remarks\":\"DSC03125.jpg\"},{\"Order\":15,\"Remarks\":\"DSC03136.jpg\"},{\"Order\":16,\"Remarks\":\"DSC03145.jpg\"},{\"Order\":17,\"Remarks\":\"DSC03158.jpg\"},{\"Order\":18,\"Remarks\":\"DSC03168.jpg\"},{\"Order\":19,\"Remarks\":\"DSC03182.jpg\"},{\"Order\":20,\"Remarks\":\"DSC03188.jpg\"},{\"Order\":21,\"Remarks\":\"DSC03194.jpg\"},{\"Order\":22,\"Remarks\":\"DSC03200.jpg\"},{\"Order\":23,\"Remarks\":\"DSC03205.jpg\"},{\"Order\":24,\"Remarks\":\"DSC03212.jpg\"},{\"Order\":25,\"Remarks\":\"DSC03215.jpg\"},{\"Order\":26,\"Remarks\":\"DSC03221.jpg\"},{\"Order\":27,\"Remarks\":\"DSC03231.jpg\"},{\"Order\":28,\"Remarks\":\"DSC03236.jpg\"},{\"Order\":29,\"Remarks\":\"DSC03243.jpg\"},{\"Order\":30,\"Remarks\":\"DSC03249.jpg\"},{\"Order\":31,\"Remarks\":\"DSC03258.jpg\"},{\"Order\":32,\"Remarks\":\"DSC03263.jpg\"},{\"Order\":33,\"Remarks\":\"DSC03273.jpg\"},{\"Order\":34,\"Remarks\":\"DSC03278.jpg\"},{\"Order\":35,\"Remarks\":\"DSC03285.jpg\"}]","PHOTOORDER":"1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30,31,32,33,34,35","SOURCE":"MG_NST"}