Multifamily
Minnehaha Avenue Apartments
3720 Minnehaha Ave, Minneapolis, MN 55406
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap, as the exclusive listing agent, is pleased to present for sale Minnehaha Avenue Apartments.
Minnehaha Avenue Apartments is a fully renovated, 17- unit multifamily asset located in the highly desirable Howe neighborhood of Minneapolis. Originally constructed in 1963, the property comprises a balanced unit mix of five one-bedroom and twelve two-bedroom residences, averaging 733 square feet. Current rents average $1,393 per month, offering a strong in-place yield and consistent income stream for investors.
This turnkey investment opportunity has undergone comprehensive renovations, including a new roof, new windows, upgraded common areas, a newly paved parking lot, and over $40,000 in improvements per unit. Finishes are well above market average, positioning the property as one of the highest-quality rental options in its submarket. Situated on a 0.28-acre parcel with 12 surface parking spaces, the building combines efficient design with timeless midcentury architecture. The thoughtful upgrades and stabilized rent roll make this an attractive, low-maintenance asset with long-term upside potential.
Residents benefit from a quiet, community-centric location near local favorites such as The Howe Daily Kitchen & Bar, Standish Café, and Atuvava Bakery. The property’s location within a well-established and walkable residential pocket adds further appeal for both tenants and investors.
Minnehaha Avenue Apartments
Investment Highlights
- Fully Renovated, Turnkey Asset - Comprehensive renovations include new roof, windows, common area upgrades, new parking lot, and over $40,000 per unit in interior improvements
- Strong In-Place Yield - Average rents of $1,393 per unit with stabilized occupancy and minimal deferred maintenance
- Desirable Unit Mix - Five 1BR and twelve 2BR units averaging 733 SF, catering to a broad tenant base
- Prime Neighborhood Location - Located in the vibrant Howe neighborhood, steps from local dining, coffee shops, parks, and public transit
- Attractive Long-Term Hold - Low-maintenance investment in a well-established residential area with limited competing product at this quality level
Exclusively Listed By
Investment Highlights
- Fully Renovated, Turnkey Asset - Comprehensive renovations include new roof, windows, common area upgrades, new parking lot, and over $40,000 per unit in interior improvements
- Strong In-Place Yield - Average rents of $1,393 per unit with stabilized occupancy and minimal deferred maintenance
- Desirable Unit Mix - Five 1BR and twelve 2BR units averaging 733 SF, catering to a broad tenant base
- Prime Neighborhood Location - Located in the vibrant Howe neighborhood, steps from local dining, coffee shops, parks, and public transit
- Attractive Long-Term Hold - Low-maintenance investment in a well-established residential area with limited competing product at this quality level
Investment Overview
Marcus & Millichap, as the exclusive listing agent, is pleased to present for sale Minnehaha Avenue Apartments. Minnehaha Avenue Apartments is a fully renovated, 17- unit multifamily asset located in the highly desirable Howe neighborhood of Minneapolis. Originally constructed in 1963, the property comprises a balanced unit mix of five one-bedroom and twelve two-bedroom residences, averaging 733 square feet. Current rents average $1,393 per month, offering a strong in-place yield and consistent income stream for investors. This turnkey investment opportunity has undergone comprehensive renovations, including a new roof, new windows, upgraded common areas, a newly paved parking lot, and over $40,000 in improvements per unit. Finishes are well above market average, positioning the property as one of the highest-quality rental options in its submarket. Situated on a 0.28-acre parcel with 12 surface parking spaces, the building combines efficient design with timeless midcentury architecture. The thoughtful upgrades and stabilized rent roll make this an attractive, low-maintenance asset with long-term upside potential. Residents benefit from a quiet, community-centric location near local favorites such as The Howe Daily Kitchen & Bar, Standish Café, and Atuvava Bakery. The property’s location within a well-established and walkable residential pocket adds further appeal for both tenants and investors.
Exclusively Listed By
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