952-852-9700
6455 Zane Ave N, Minneapolis, MN for Sale
Apartments - FOR SALE
1/50
null | Request Cap Rate

6455 Zane Ave N
Minneapolis, MN 55429
Skyway


HIGHLIGHTS

  • Professionally owned and managed asset offered at a low cost basis, significantly below replacement cost
  • Strategically located with immediate access to I-94 and I-694, just 15 minutes from downtown Minneapolis
  • 570 total parking stalls, including 379 surface spaces and 191 garage stalls
  • More than $950,000 in CapEx invested over the past 36 months, including renovated office, common areas, Amazon lockers, and boiler upgrades
  • Spacious unit layouts averaging 949 square feet with a balanced mix of 1-, 2-, and 3-bedroom apartments
  • Robust amenity package including a pool, sundeck, fitness center, business center, BBQ area, and community garden

OVERVIEW

Eden Park Apartments is a 324-unit multifamily community in Brooklyn Park, MN, professionally owned and managed, and offered at a low cost basis relative to replacement cost. The property features a diverse unit mix of 63 one-bedroom, 180 two-bedroom, and 81 three-bedroom apartments, with spacious floor plans averaging 949 square feet and scheduled rents of $1,380 per month. Ideally positioned on 19.6 acres, Eden Park offers immediate access to Interstates 94 and 694, providing seamless connectivity to downtown Minneapolis, just 15 minutes away. The property includes 570 total parking stalls—379 surface and 191 garage spaces—ensuring ample resident convenience. Over $950,000 in capital improvements have been completed within the past 36 months, including a full renovation of the regional office, common area upgrades, a remodeled management office, new Amazon lockers, and boiler enhancements. Community amenities include a swimming pool with sundeck, fitness center, business center, BBQ area, and a community garden, all contributing to a highly attractive living environment. With minimal new multifamily supply currently on the market in the submarket, Eden Park is well positioned for sustained rent growth. Investors also benefit from in-place assumable financing at a 4.58% fixed rate, maturing in September 2030, with an approximate loan balance of $20 million. Alternatively, the property can be purchased free and clear of debt. Eden Park Apartments represents a rare opportunity to acquire a stabilized, well managed asset with strong fundamentals, recent capital reinvestment, and exceptional access in one of the Twin Cities’ most accessible and supply-constrained corridors.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

272

CAP RATE

Request Cap Rate

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Eden Park Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1971

PARKING SPACES

696

LAND DETAILS

LAND ACRES

19.61 AC

LAND SF

854,212 SF

ZONING

-

APN/PARCEL ID

33-119-21-32-0001,33-119-21-32-0002,33-119-21-32-0003,33-119-21-32-0004,33-119-21-32-0011

ASK ABOUT THIS PROPERTY

Abe RobertsMarcus & MillichapMore Info
952-852-9700

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

Abe RobertsMarcus & MillichapMore Info
952-852-9700

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