9040 Nicollet Ave S - Apartments FOR SALE


Bloomington, MN 55420- East Bloomington
$820,000 USD
651-900-4386
9040 Nicollet Ave S, Bloomington, MN for Sale
$820,000 USD
Apartments - FOR SALE
1/38
null | Request Cap Rate

9040 Nicollet Ave S
Bloomington, MN 55420
East Bloomington


HIGHLIGHTS

  • Bloomington Location Home to Mall of America – one of the nation’s largest retail and employment hubs, driving constant tenant demand.
  • Many MTM tenants give leasing flexibility and immediate income upside
  • Connected mechanicals for less maintenance
  • Projections show increased income by raising month-to-month rents and adding pet, parking, storage, and utility fees.
  • 4D enrollment potential for significant property tax reductions
  • Bloomington 6 offers large units with 4 spacious 2BR/1BA and 2 rare 3BR/2BA layouts—highly desirable in this market.

OVERVIEW

The Bloomington 6 - 9040 Nicollet Avenue South - is a six-unit multifamily investment property located in Bloomington, MN. The property features a desirable unit mix of four 2BR/1BA units and two 3BR/2BA units, offering exceptionally large layouts compared to most rental stock in the area. This unique configuration attracts long-term tenants and supports consistent occupancy. The asset is primed for a value-add strategy. While current interiors are functional and in great condition, renovations to kitchens, bathrooms, and could enable an investor to capture higher rents and boost NOI. In addition, there is an opportunity to enroll the property in the City of Minneapolis 4D Affordable Housing Program, which could significantly reduce property taxes while still maintaining strong rental performance.

FOR SALE DETAILS

PRICE

$820,000 USD

PRICE/SF

$139 USD /SF

# OF UNITS

6

PRICE/UNIT

$136,667

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1966

PARKING SPACES

10

LAND DETAILS

LAND ACRES

100 AC

LAND SF

4,356,000 SF

ZONING

R-4

APN/PARCEL ID

10-027-24-31-0005

ASK ABOUT THIS PROPERTY

Doug McNicollMRG Realty PartnersMore Info
651-900-4386

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

Doug McNicollMRG Realty PartnersMore Info
651-900-4386

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