Investment Overview

Marcus and Millichap as the exclusive listing agent is pleased to present for sale The Commons, A 60 unit apartment community located in the highly in-demand city of Inver Grove Heights, MN. Offering a desirable location just steps away from the Inver Hills Community College, The Commons introduces a flexible housing option catering to full and part-time college students and non-students alike. For non-students, the property offers 1, 2, 2+ den, and 3 bedroom market-rate apartments. For students, a select number of 3 and 4 bedroom apartments are leased by the bedroom, offering students a private bedroom with their own lease. At The Commons of Inver Grove, residents are treated to a wealth of amenities that include ample off-street parking, a fitness center, and a well-appointed business lounge. The units themselves have been renovated and feature high-end details such as granite countertops, stainless steel appliances, and elegant cherry cabinetry. Conveniently located near Highway 55 and US-52, residents have easy access to a myriad of shopping, dining, and entertainment options in nearby St. Paul. Residing on a spacious 5 acre lot, the complex was built in 1987 and has over 60-thousand in rentable square feet. The Commons is a highly desirable property with strong market appeal, boasting a prime location and a wide range of attractive amenities. With an average rent of $1,386 per month and excellent occupancy rates, this apartment community presents a compelling investment opportunity for prospective buyers seeking to acquire a stable-yielding asset in the thriving Inver Grove Heights area.