This beautifully maintained 1 bedroom, 1 bathroom condo in the Groveland Terrace Condominium Complex features hardwood floors, in-unit laundry, central heating and air conditioning, and a private balcony overlooking a beautiful residential area. The complex is within walking distance of the Walker Art Center, the Minneapolis Sculpture Garden, Lowry Park, and Lake of the Isles, combining city living with an ideal location in the Lowry Hill neighborhood. The unit also includes stainless steel kitchen appliances (fridge/freezer, microwave, dishwasher, and garbage disposal). The west-facing windows ensure that the spacious, open-concept unit is well-lit and airy. Groveland Terrace is a community of individual owners with only 30% of units available for rent at any given time. This policy ensures a well-maintained, neighborly environment. The three-building complex offers premium amenities, including an outdoor pool with views of the Walker Art Center, cedar saunas, a newly renovated community room, secure corridors, onsite property management, and a community terrace complete with BBQs, seating, and stunning views of the downtown skyline that lights up at night. I am the owner and current occupant; I purchased this unit in 2021 and have been living here for 5 years. My experience has been excellent with the quality of the appliances, the responsiveness of the administration, and the consistent upkeep of the buildings and the grounds. The location is ideal for University of Minnesota students and medical residents/fellows given its close proximity to both the East and West Bank campuses, HCMC, and the VA hospital, as well as working professionals given its proximity to downtown, uptown, and ease of access to the major highways around Minneapolis. The grounds are well-maintained, with seasonal decor and landscaping, and the condo association provides snow clearing each winter. Lease Details: Rent includes Comcast Xfinity cable and high-speed internet, heat, water, garbage, storage unit, and a reserved parking spot in a heated garage, with the renter only responsible for electricity. If your application is approved, a security deposit equal to one-month of rent and a signed lease agreement are required to secure the unit. Minimum lease term is 12 months per HOA by-laws. Non-Smoking: This unit has a non-smoking policy in units as well as common areas, with a designated smoking area located on Groveland Terrace, away from the buildings. Home Owners Association (HOA) Requirements & Fees: The renter will be required to sign agreement to adhere to HOA/community rules, which will be provided to prospective applicants upon request or before lease is confirmed. $250 move-in fee due to HOA upon move-in for complex registration (fob activation, entry system, mail, etc). There is also a $20 fee per parking sticker, if applicable. Late Fees & Penalties: Rent is due on the first of each month. A late fee of will apply if rent is not received by the 5th. Application: Rental applicant screening is processed through the complex Home Owners Associate (HOA) approved vendor - includes background check for each occupant as well as standard rental history and financial check - $85 per resident. No other screening will be accepted by the HOA board. Tenant Screening Criteria: ackground Screening - Community rules requires all rental applicants complete screening through the HOA-approved vendor. Evaluation follows all requires statues and laws. Financial and Income Standards - Applicants must demonstrate a gross monthly income of at least 2 times the monthly rent and stable financial history. In accordance with local ordinance, an exception may be available through an 'individualized assessment'. Guarantor Requirements - A guarantor may be utilized if an applicant does not meet standard income or credit requirements. To qualify as a backer, the guarantor must submit a separate application and provide proof of financial stability. This proof may include verified income (4 time the monthly rent) , significant savings, and/or evidence of homeownership and property assets. These factors are considered as supplemental evidence to secure the financial obligations of the lease. Full details on Renter Laws and Protections are available on the City of Minneapolis Property Housing website.
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