Last Sold Price
10,270 sqft$129/sqft
5940 E River Rd, Fridley, MN 55432

Description

Please read...the building is master leased by a management company, monthly rent is $9,900. Two year current lease with 2 more 2 year options. Management fee is built into rent, only owner expenses are mortgage, taxes, insurance and cap X(roof, boiler/furnace, etc..). Cap rate is unmatched in this market. Management flips units and owner is not responsible for vacancies. Perfect for the investor that wants to be a more passive owner. 12 separate furnaces.Please read...the building is master leased by a management company, monthly rent is $9,900. Two year current lease with 2 more 2 year options. Management fee is built into rent, only owner expenses are mortgage, taxes, insurance and cap X(roof, boiler/furnace, etc..). Cap rate is unmatched in this market. Management flips units and owner is not responsible for vacancies. Perfect for the investor that wants to be a more passive owner. 12 separate furnaces.
LISTING CLOSED: 05/06/2022 12:00 AM

  1. Listed by Cameron C McCambridge • Edina Realty, Inc.
    P: (952) 920-1960 C: (952) 484-3280 cammccambridge@edinarealty.com

Property Details for 5940 East River Road

Status
MLS #
6152544
Days on Compass
52
Taxes
$16,370 / year
HOA Fees
-
Condo/Co-op Fees
-
Property Type
Apartment
MLS Type
Commercial Sale / Apartment
Year Built
1961
Lot Size
0.42 AC / 18,295 SF
Subdivision Name
East River Estates
Zoning Jurisdiction
Residential-Multi-Family

Recent comparable sales

Median sold price

$1,100,000

Avg days on market

46

Sale-to-list ratio

102.5%

Fridley, MN

9 comparable properties found

$256,250 | 5620 6th Street Northeast, Fridley, MN 55432
1

$256,250

Sold 05/06/25

Unavailable
Bedrooms
Unavailable
Bathrooms
1,100
Square Feet
0.2
Acres
2

$110,000

Sold 03/04/26

Unavailable
Bedrooms
Unavailable
Bathrooms
Unavailable
Square Feet
0.85
Acres
3

$1,525,000

Sold 08/06/25

Unavailable
Bedrooms
Unavailable
Bathrooms
13,410
Square Feet
1.51
Acres
4

$215,000

Sold 09/26/25

Unavailable
Bedrooms
Unavailable
Bathrooms
Unavailable
Square Feet
0.01
Acres
5

$220,000

Sold 06/11/25

Unavailable
Bedrooms
Unavailable
Bathrooms
Unavailable
Square Feet
0.01
Acres
6

$1,100,000

Sold 02/24/26

Unavailable
Bedrooms
Unavailable
Bathrooms
3,284
Square Feet
0.93
Acres
7

$3,350,000

Sold 12/16/25

Unavailable
Bedrooms
Unavailable
Bathrooms
31,233
Square Feet
1.41
Acres
8

$29,625,000

Sold 03/13/26

Unavailable
Bedrooms
Unavailable
Bathrooms
100,000
Square Feet
7.01
Acres
9

$6,090,000

Sold 02/13/26

Unavailable
Bedrooms
Unavailable
Bathrooms
69,769
Square Feet
6.97
Acres

Location

Listing Courtesy of Edina Realty, Inc.

Sold By Coldwell Banker Realty

Add your commute

Building Information for 5940 East River Road

Stories-Residences12Year Built1961Lot Size0.42 AC / 18,295 SF

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Principal and Interest

$6,735

Property Taxes

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HOA Dues

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Property Information for 5940 East River Road

Summary
Location and General Information
  • City Name: Fridley
  • County Or Parish: Anoka
  • County: Anoka-MN
  • Directions: 694 to East River Road, north to building.
  • Latitude: 45.0754993344
  • Longitude: -93.2737935302
  • Map Coordinate: 78-D4
  • Map Coordinate Source: King's Street Atlas
  • City and Location: Fridley
  • City and Location Text: Fridley(MN)
  • Postal Code: 55432
  • State Or Province: MN
  • Public Survey Township: 30
Taxes and HOA Information
  • Additional Parcels: No
  • Parcel Number: 223024120006
  • Tax Annual Amount: $16,370.00
  • Tax Legal Description: LOT 1 BLK 2 EAST RIVER ESTATES SUBJ TO EASE OF REC
  • Tax Other Annual Assessment Amount: $.00
  • Tax Year: 2021
  • Tax With Assessments: 16370.0000
School Information
  • High School District: 14 - Fridley
  • School District Number: 14
  • School District Phone: 763-502-5001
Property
Lot Information
  • Current Use: Residential
  • Lot Size Area: 0.42
  • Lot Size Dimensions: 144x135x15x61x85x98
  • Lot Size Units: Acres
  • Property Sub Type: Apartment
  • Property Type: Commercial Sale
  • Building Area Total: 10270.0
Property and Assessments
  • Age Of Property: 63
Utilities
  • Sewer: City Sewer/Connected, City Sewer - In Street
  • Utilities: Electric Separate, Heating Separate, Hot Water Common
  • Water Source: City Water/Connected, City Water - In Street
Interior and Exterior Features
Exterior Features
  • Accessibility Features: None
  • Foundation Area: 3423.0
  • Fuel: Natural Gas
  • Road Frontage Type: City Street
  • Roof: Flat
Interior Features
  • Appliances: Dryer, Range, Refrigerator, Washer
  • Cooling: Window Unit(s)
  • Heating: Forced Air
  • Levels: Two
  • Number of Refrigerator: One Per Unit
  • Basement YN: No
Multi Family
Unit 1
  • Unit Bath 3Qtr: 0
  • Unit Bath Full: 1
  • Unit Bath Half: 0
  • Unit Bath Qtr: 0
  • Unit Rooms Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 0
  • Unit Is Leased: 1
  • Unit Number: 1-12

Property History for 5940 East River Road

DateEvent & SourcePriceAppreciation
May 6, 2022

Sold (Public Record)

Public Record #1491178127

$1,325,000

+10.0% / yr

May 6, 2022

Sold

NorthStar #6152544

$1,325,000
Apr 7, 2022

Pending

NorthStar #6152544

DateEvent & SourcePrice
05/06/2022

Sold (Public Record)

Public Record #1491178127

$1,325,000

+10.0% / yr

05/06/2022

Sold

NorthStar #6152544

$1,325,000
04/07/2022

Pending

NorthStar #6152544

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 5940 East River Road

Taxable ValueLand$265,000Additions$834,800Total$1,099,800
Tax Record2026$18,701 ($1,558 / month)
Home Facts
Total Finished SqFt10,104 SqFtAbove Grade Finished SqFt10,104 SqFtLot Size18,471 SqFtStyleMulti-Family Res (5+ Units)Year Built1961Year Renovated1970CountyANOKAAPN22-30-24-12-0006

Schools near 5940 East River Road

This home is within Fridley Public School District.
Rating
School
Type
Grades
Distance
Public - PK to 4
Public - 5 to 8
Public - 9 to 12
Public - 5 to 8
Rating
School
Distance
Stevenson Elementary School
PublicPK to 4

Fridley Middle School
Public5 to 8

Fridley Senior High School
Public9 to 12

Fridley Middle Area Learning Center
Public5 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Edina Realty, Inc.

Based on information submitted to the MLS GRID as of 01/30/2024 11:35 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.