Multifamily
2nd Avenue Apartments
3515 2nd Ave S, Minneapolis, MN 55408
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap, as the exclusive listing agent, is pleased to present for sale 2nd Avenue Apartments, a 12 unit apartment community located in Minneapolis, MN.
The 2nd Avenue Apartments, located at 3515 2nd Avenue S in the Central Neighborhood of Minneapolis, is a fully renovated, 12-unit multifamily property offering some of the most desirable living spaces in the area. With a mix of 1 studio, 2 one-bedroom, 5 two-bedroom, and 4 three-bedroom residences, the property provides diverse layouts to suit a variety of tenants. Originally built in 1923, the building sits on a 0.19-acre lot and includes nine parking spaces.
In 2016-2017, the owners spared no expense in completely transforming the property. The comprehensive renovations included all new plumbing, HVAC systems, and high-end finishes such as solid surface countertops, new cabinetry, stainless steel appliances, and contemporary flooring. These upgrades are just a few of the many enhancements made throughout the property.
The extensive updates have translated into higher rental income, with the property achieving an average rent of $2.08 per square foot, well above the area’s average. This reflects the property’s premium condition and strong tenant demand. For investors seeking a stabilized, turnkey asset in a prime Minneapolis location, 2nd Avenue Apartments offers a rare opportunity to acquire a top-tier property that blends modern comfort with timeless appeal.
Investment Highlights
- Turnkey Investment Property being Sold at an Attractive Basis; Completely Gutted and Renovated in 2016
- Potential Debt Assumption of $1,383, 922 at 5.68% for another Three Years. *Subject to Strength of Guarantor and Assumption Fees.
- Diverse and Superior Unit Mix; One studio, Two One-Bedroom, Five Two-Bedroom, and Four Three-Bedroom Residences
- Nine On-Site Parking Spaces.
- Located just off Interstate 35W in the "Central" Neighborhood of Minneapolis Close to Public Transportation and Abundant Retail.
Exclusively Listed By
Investment Highlights
- Turnkey Investment Property being Sold at an Attractive Basis; Completely Gutted and Renovated in 2016
- Potential Debt Assumption of $1,383, 922 at 5.68% for another Three Years. *Subject to Strength of Guarantor and Assumption Fees.
- Diverse and Superior Unit Mix; One studio, Two One-Bedroom, Five Two-Bedroom, and Four Three-Bedroom Residences
- Nine On-Site Parking Spaces.
- Located just off Interstate 35W in the "Central" Neighborhood of Minneapolis Close to Public Transportation and Abundant Retail.
Investment Overview
Marcus & Millichap, as the exclusive listing agent, is pleased to present for sale 2nd Avenue Apartments, a 12 unit apartment community located in Minneapolis, MN. The 2nd Avenue Apartments, located at 3515 2nd Avenue S in the Central Neighborhood of Minneapolis, is a fully renovated, 12-unit multifamily property offering some of the most desirable living spaces in the area. With a mix of 1 studio, 2 one-bedroom, 5 two-bedroom, and 4 three-bedroom residences, the property provides diverse layouts to suit a variety of tenants. Originally built in 1923, the building sits on a 0.19-acre lot and includes nine parking spaces. In 2016-2017, the owners spared no expense in completely transforming the property. The comprehensive renovations included all new plumbing, HVAC systems, and high-end finishes such as solid surface countertops, new cabinetry, stainless steel appliances, and contemporary flooring. These upgrades are just a few of the many enhancements made throughout the property. The extensive updates have translated into higher rental income, with the property achieving an average rent of $2.08 per square foot, well above the area’s average. This reflects the property’s premium condition and strong tenant demand. For investors seeking a stabilized, turnkey asset in a prime Minneapolis location, 2nd Avenue Apartments offers a rare opportunity to acquire a top-tier property that blends modern comfort with timeless appeal.