Investment Overview

Marcus & Millichap as the exclusive listing agent is pleased to present for sale Tatum Street Apartments, an 11 unit apartment building located in Falcon Heights, MN. The Tatum Street Apartments sit on 0.41 acres and feature eight one bedroom and three two-bedroom residences. The community is situated in the heart of Falcon Heights and is right down the road from the University of Minnesota Les Bolstad Public Golf Course and the Falcon Heights Community Park. The community park offers tons of amenities to the nearby residences including tennis courts, a basketball court, a community garden, a walking trail, picnic areas, and ice rinks during the winter months. The property is also located just a few blocks North of the University of Minnesota St Paul Campus and benefits greatly from the rental demand the campus generates. Constructed in 1965, the property has been well maintained and cared for. The property features 12 surface parking spaces and 4 double garages, providing abundant parking options for residents, visitors, and management. Scheduled rents for the units currently average $872 and the property boasts a 100% occupancy rate. The current owner is open to contract for deed with terms to be negotiated. This offering presents a perfectly located and incredibly well-kept apartment community In Falcon Heights, MN. The property’s remarkably high occupancy rate, desirable unit mix, and prime location make it a highly sought-after investment. A motivated and sophisticated owner should be able to bring all rents to market and realize a strong cash flow.