2700 Garfield Ave - Apartments FOR SALE


Minneapolis, MN 55408
$1,200,000 USD
952-847-3406
2700 Garfield Ave, Minneapolis, MN for Sale
$1,200,000 USD
Apartments - FOR SALE
1/22
null | 8.14% Cap Rate

2700 Garfield Ave
Minneapolis, MN 55408


HIGHLIGHTS

  • In-Place Cap Rate of 8.14%
  • Mixture of Long-Term Tenants, and Furnished Mid/Short-Term Units
  • Over $11,000/month in Income
  • Fully Renovated in 2022/23

OVERVIEW

MOTIVATED SELLER - ENCOURAGING OFFERS! Located in the heart of the Whittier neighborhood, this beautifully renovated 8-unit apartment presents an exceptional investment opportunity - featuring a unit mix of seven x one-bedroom units and one x studio, along with five parking stalls. With a mix of long-term tenants and fully furnished mid-term and short-term units, this property is already generating strong income, grossing north of $11,000 per month, representing an in-place cap rate of 7.81%! The property has undergone an extensive renovation, addressing everything from the exterior façade and landscaping to the common areas and in-unit upgrades. Each unit is tastefully updated, ensuring a modern living experience for all residents. Whether you're looking to expand your portfolio or seeking a solid investment in a vibrant Minneapolis neighborhood, 2700 Garfield Avenue South offers a rare blend of immediate income and long-term value appreciation. Don’t miss out on this well-maintained, high-performing asset in one of the city's most sought-after areas!

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$225 USD /SF

# OF UNITS

8

PRICE/UNIT

$150,000

CAP RATE

8.14%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

R2B

APN/PARCEL ID

34-029-24-32-0097

ASK ABOUT THIS PROPERTY

Paul BegichEMORY PropertiesMore Info
952-847-3406

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Paul BegichEMORY PropertiesMore Info
952-847-3406

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