310-906-3275
500 W 28th St, Minneapolis, MN for Sale
Apartments - FOR SALE
1/17
null | Request Cap Rate

500 W 28th St
Minneapolis, MN 55408
Whittier


HIGHLIGHTS

  • Pride of Ownership: The meticulous care and curb appeal of the property shows when visiting the building. Long term owners.
  • Parking: Ample surface parking is a valuable amenity in the urban setting.
  • Capital Improvements: (New Roof – 2015), (New Windows and Front Entry Window – 2008), (New Carpet in Hallways – 2020)

OVERVIEW

Marcus & Millichap, as the exclusive listing agent, is pleased to present for sale 28th Street Apartments, an 11-unit apartment community located in the Whittier/Uptown neighborhood of Minneapolis, MN. 500 West 28th Street is available for purchase for the first time in over ten years. Built in 1961, this well-maintained apartment community features 11 one-bedroom units, each offering 550 square feet of living space. With a total of 6,050 rentable square feet, the property’s efficient layout and thoughtful care over the years present strong appeal to renters seeking quality housing in an established area. The property includes a 11-space parking lot, an attractive feature for tenants in the relatively dense urban setting. Major capital improvements include a roof from 2015 and windows from 2008. Unit interior updates include bathrooms, kitchens, and flooring. With average rents at $962, this opportunity blends consistent cash flow for the owner and affordability/convenience for the tenant. Rental demand is predicted to increase over the next couple of years ensuring this property remains highly occupied. This exceptionally well-maintained property has excellent current and historical occupancy. We are pleased to present this beloved asset in a core Minneapolis neighborhood. The property’s prime location near highly-rated dining destinations, including World Street Kitchen, Black Forest Inn, and Centro Nicollet further enhances its desirability. Positioned in a vibrant neighborhood with easy access to local amenities, 28th Street Apartments offers a compelling investment opportunity with a high potential for long-term growth.

FOR SALE DETAILS

PRICE

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# OF UNITS

11

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

500 West 28th Street

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1961

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.18 AC

LAND SF

7,841 SF

ZONING

R5

APN/PARCEL ID

34-029-24-32-0063

ASK ABOUT THIS PROPERTY

Michael JacobsMarcus & MillichapMore Info
310-906-3275

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Michael JacobsMarcus & MillichapMore Info
310-906-3275

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