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Multifamily

Tatum Street Apartments

1707 Tatum St, Falcon Heights, MN 55113

Listing Price: $1,000,000

Cap Rate
4.69%
Number of Units
11
GRM
7.18
Price/Unit
$90,909
Price/Gross SF
$121.95
Gross SF
8,200

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.

Investment Highlights

  • Seller Open to Contract For Deed
  • Situated a Few Blocks North of the University of Minnesota St. Paul Campus In a Quiet, Residential Neighborhood.
  • Close to Falcon Heights Community Park, Providing Tennis/Basketball Courts, a Community Garden, Walking Trail, Picnic Spots, and Winter Ice Rinks.
  • First Time on the Market In Over 35 Years.
  • Value-Add Opportunity: Current Rents are 13% Below Market Value In a Non-Rent Control City.
  • Ample Parking: Offers 12 Surface Parking Spaces and 4 Double-Car Garages for Convenient Parking Solutions.

Exclusively Listed By

Financing By

Multifamily

Tatum Street Apartments

Listing Price: $1,000,000

Cap Rate
4.69%
Number of Units
11
GRM
7.18
Price/Unit
$90,909
Price/Gross SF
$121.95
Gross SF
8,200

Investment Highlights

  • Seller Open to Contract For Deed
  • Situated a Few Blocks North of the University of Minnesota St. Paul Campus In a Quiet, Residential Neighborhood.
  • Close to Falcon Heights Community Park, Providing Tennis/Basketball Courts, a Community Garden, Walking Trail, Picnic Spots, and Winter Ice Rinks.
  • First Time on the Market In Over 35 Years.
  • Value-Add Opportunity: Current Rents are 13% Below Market Value In a Non-Rent Control City.
  • Ample Parking: Offers 12 Surface Parking Spaces and 4 Double-Car Garages for Convenient Parking Solutions.

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.

Exclusively Listed By

Financing By

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