Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present for sale Aldrich Avenue Apartments. Aldrich Avenue Apartments is a three-building multifamily community located in the South Uptown neighborhood of Minneapolis. Built in 1922 and 1927, the property features a total of 12 studio, 24 one-bedroom, and 9 two-bedroom residences. The residences average 676 square feet in size, with current rents averaging $1,128 per month. Situated on a combined lot size of 0.5 acres, the property includes approximately 15 surface parking spaces. Residents enjoy convenient access to nearby outdoor amenities, with Painter Park’s baseball diamond, basketball court, and tennis court just a short walk away. Additionally, the property is less than a mile from the beaches and recreation opportunities at Lake Bde Maka Ska, offering tenants an appealing mix of urban and outdoor living. With its strong location, well-maintained buildings, and diverse unit mix, Aldrich Avenue Apartments presents a compelling investment opportunity. The property’s established rental income and proximity to parks, recreation, and South Uptown’s vibrant amenities make it an attractive option for investors seeking a stable multifamily asset in Minneapolis.