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.