612-709-1783
1314 W 28th St, Minneapolis, MN for Sale
Apartments - FOR SALE
1/6
null | Request Cap Rate

1314 W 28th St
Minneapolis, MN 55408
Uptown Minneapolis


HIGHLIGHTS

  • Irreplaceable Uptown Minneapolis Location
  • Day-One Cash Flow
  • Built-In Rent Upside
  • Grandfathered 4D Tax Classification
  • Needed Market-Rate Workforce Housing

OVERVIEW

Colliers is pleased to offer 1314 W 28th St, a 16-unit apartment community in the heart of Minneapolis' Uptown Chain of Lakes neighborhood. The property is 100% occupied with a diversified mix of studios through three bedrooms, averaging $1,102 per unit, approximately 7% below estimated market rents, offering immediate organic upside without capital investment. Located between Lyndale and Hennepin Avenues, the property benefits from strong neighborhood fundamentals, including walkability, proximity to Lake of the Isles and Bde Maka Ska, and direct access to the Midtown Greenway. While the broader Uptown market experienced troubles in the years following COVID, the area is showing clear signs of recovery with tightening vacancy, renewed retail and restaurant activity, and growing renter interest, Minneapolis ranked third nationally in renter demand entering 2026 per RentCafe, with apartment searches up 29% year-over-year. The Twin Cities multifamily landscape continues to favor existing product, with new deliveries declining sharply to approximately 3,200 units in 2025, down from 26,000 over the prior three years. As naturally occurring workforce housing with rents accessible to essential workers, the property fills a critical gap where demand is deepest and new construction cannot compete. The metro's diversified employment base, anchored by the second highest concentration of Fortune 500 headquarters per capita of any major U.S. metro, underpins durable long-term rental demand. Offered unpriced, Colliers is seeking qualified investors for this stabilized, cash-flowing asset in an urban submarket with strong long-term positioning.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

16

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1314 W Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,574 SF

ZONING

R6

APN/PARCEL ID

33-029-24-42-0237

ASK ABOUT THIS PROPERTY

Devon DvorakColliersMore Info
612-709-1783

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Devon DvorakColliersMore Info
612-709-1783

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.