2007 Aldrich Ave S - Apartments FOR SALE


Minneapolis, MN 55405- Lowry Hill
$1,700,000 USD
651-353-3657
2007 Aldrich Ave S, Minneapolis, MN for Sale
$1,700,000 USD
Apartments - FOR SALE
1/1
null | 7.92% Cap Rate

2007 Aldrich Ave S
Minneapolis, MN 55405
Lowry Hill


HIGHLIGHTS

  • 12 spacious 2-bedroom units averaging approximately 1,000 SF | Market rents of approximately $1,550/unit, providing potential for continued rental
  • Large-format floor plans | $133,745 trailing NOI | 7.87% going-in cap rate
  • Newer kitchen finishes | $134,556 Year 1 Pro Forma NOI | 7.92% cap rate
  • Newer mechanical systems | 9.33% Year 1 projected cash-on-cash return based on modeled financing
  • New roof installed in 2023
  • 100% occupied with average in-place rents of approximately $1,457/unit

OVERVIEW

2007 Aldrich Ave S presents a compelling multifamily investment opportunity in Minneapolis’ highly desirable Lowry Hill East neighborhood. The property features exceptionally large two-bedroom units, offering a differentiated unit mix in one of South Minneapolis’ most established and sought-after rental markets. The asset benefits from its proximity to Uptown, the Chain of Lakes, major highways and interstates, and a wide variety of dining, retail, entertainment, and recreational amenities. With a strong location, oversized floor plans, and potential for continued rental growth, 2007 Aldrich Ave S offers investors an attractive opportunity to acquire a well-positioned South Minneapolis multifamily asset.

FOR SALE DETAILS

PRICE

$1,700,000 USD

PRICE/SF

$142 USD /SF

# OF UNITS

12

PRICE/UNIT

$141,667

CAP RATE

7.92%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,324 SF

ZONING

-

APN/PARCEL ID

33-029-24-11-0048

ASK ABOUT THIS PROPERTY

Cody SmithKiser GroupMore Info
651-353-3657

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Cody SmithKiser GroupMore Info
651-353-3657

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