Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present for sale Garfield Avenue Apartments, a 12-unit apartment community located in the Whittier neighborhood of Minneapolis. 2308 Garfield Avenue S is available for purchase for the first time in over 20 years. We are pleased to present a unique opportunity to purchase a beloved asset in a core urban area. Consisting of 10 one-bedrooms and 2 studios, this property is exceptionally well cared for. Built in 1967, and situated on a .22 acre lot, 2308 Garfield enjoys a great location within walking distance to the commercial district of Lyndale Avenue. Located one street from Lyndale Avenue, tenants will be within walking distance to Aldi, Baba’s Hummus House, French Meadow Café, Wedge Coop, Leaning Tower of Pizza and many others. The property includes an 8-space parking lot, an attractive feature for tenants in the relatively dense urban setting. Major capital improvements include a Duro-last roof from approximately 10 years ago and windows from approximately 10 years ago. With average rents at $967, the opportunity blends consistent cash for the owner and affordability/ convenience for the tenant. Rental demand is predicted to increase over the next couple years ensuring this property remains highly occupied. This exceptionally well run property has excellent current and historical occupancy.