612-270-4730
4429 S Nicollet Ave, Minneapolis, MN for Sale
Apartments - FOR SALE
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4429 S Nicollet Ave
Minneapolis, MN 55419
Kingfield


HIGHLIGHTS

  • Unique unit mix: 20 three-bedroom, 7 two-bedroom, and 2 one-bedroom units.
  • Only multifamily complex in the area with predominantly 3-bedroom units
  • Located in Kingfield, a sought-after neighborhood in Southwest Minneapolis - close to boutiques, coffeeshops, restaurants & major employment centers.
  • 29 off-street parking spaces could generate an additional $26,100 annually at $75/space/month.
  • Fully renovated units (2020-2024) with new cabinets, granite countertops, LVT flooring and modern finishes throughout.
  • Utility reimbursements were fully implemented in 2024, which equates to approximately $150/unit/month and totaling $53,000 annually.

OVERVIEW

Kiser Group is excited to present 44 NIC Apartments, a fully renovated 29-unit multifamily property in the vibrant Kingfield neighborhood of Southwest Minneapolis. Conveniently located just off I-35W on Nicollet Avenue, residents enjoy quick access to Downtown, Uptown, Lake Harriet, and local restaurants like Victor’s 1959 Café, Boludo, the Lowbrow, Patisserie 46, Revival, and the Kingfield Farmers Market. All units were renovated between 2020 and 2022, featuring modern updates such as granite countertops, stainless steel appliances, and new flooring. The property features a unit mix that is predominantly three-bedrooms with large open floorplans, currently boasts 97% occupancy, and provides a lucrative opportunity for the next investor to continue raising rents to market upon renewals and new leases.

FOR SALE DETAILS

PRICE

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# OF UNITS

29

CAP RATE

Request Cap Rate

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

NIC 44

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1921

PARKING SPACES

29

LAND DETAILS

LAND ACRES

0.81 AC

LAND SF

35,284 SF

ZONING

R4

APN/PARCEL ID

10-028-24-43-0167

ASK ABOUT THIS PROPERTY

Robert DulinCushman & WakefieldMore Info
612-270-4730

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Robert DulinCushman & WakefieldMore Info
612-270-4730

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