401 University Ave SE - Apartments FOR SALE


Minneapolis, MN 55414
$8,200,000 USD
612-562-3773
401 University Ave SE, Minneapolis, MN for Sale
$8,200,000 USD
Apartments - FOR SALE
1/28
null | 6.16% Cap Rate

401 University Ave SE
Minneapolis, MN 55414


HIGHLIGHTS

  • The Archer is a Class A apartment community with best-in-class features and amenities, positioned as an ideal investment in the Minneapolis MSA.
  • The community attracts tenants with an on-site fitness facility, community workspaces, free bike storage, and heated off-street parking.
  • The property is walkable to popular dining options, including Glam Doll Donuts, HeadFlyer Brewing, Aster Café, Jefe Urban Cocina, and Alma.
  • Placed just a few minutes from Dinkytown and the University of Minnesota, near quality retail amenities.

OVERVIEW

Discover this incredible opportunity to acquire a Class A apartment investment with best-in-class features and amenities and an easily accessible location at the Archer Apartments in Minneapolis, Minnesota. The Archer comprises 43 upscale units across five floors originally built in 2018. One of the newer communities in the area, the facility’s desirable features and amenities set it apart from other properties nearby. Tenants enjoy access to an on-site fitness facility, community workspaces with Wi-Fi, free bike storage, and heated off-street parking. Units boast sleek, high-end finishes and feature dishwashers, large closets, washer/dryers, stainless steel kitchen appliances, high ceilings, and large windows that allow for rich natural lighting. The Archer is placed just a few minutes from eclectic Dinkytown and the University of Minnesota’s East Bank campus, near quality urban amenities. Local professionals enjoy the property’s convenient proximity to commuter arteries, including Central Avenue and Interstate 35W. Several of the area’s excellent parks are within walking distance, including Holmes Park, Father Hennepin Bluff Park, and Excel Energy Water Power Park. The property is also walkable to popular local dining options, including the Glam Doll Donuts, HeadFlyer Brewing, Aster Café, Hola Coffee, Jefe Urban Cocina, and Alma. Minneapolis city center is just over a mile away, providing endless opportunities for dining, shopping, recreation, and nightlife.

FOR SALE DETAILS

PRICE

$8,200,000 USD

PRICE/SF

$231 USD /SF

# OF UNITS

43

PRICE/UNIT

$190,698

CAP RATE

6.16%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Archer

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

2018

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,890 SF

ZONING

R5, UA

APN/PARCEL ID

23-029-24-14-0086

ASK ABOUT THIS PROPERTY

Daniel O'BrienThe Stepping Stone GroupMore Info
612-562-3773

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Daniel O'BrienThe Stepping Stone GroupMore Info
612-562-3773

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