Multifamily
18th Avenue Apartments
338 NE 18th Ave, Minneapolis, MN 55418
Listing Price: $1,100,000
Investment Overview
Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 18th Avenue Apartments, a 10-unit multifamily community located at 338-346 18th Avenue NE, Minneapolis, MN.?
18th Avenue Apartments offers investors the opportunity to acquire a fully occupied, 10-unit multifamily property in the Holland neighborhood of Northeast Minneapolis.? Built in 1961, the property consists of two neighboring buildings with a unit mix of one studio, seven one-bedroom, and two two-bedroom residences.? The property currently maintains full occupancy, with average monthly rents of $1,152.?
The residences at the 338 18th Avenue NE building have received a number of interior improvements that give the units a more updated and cohesive appearance.? Every residence in the building features new LVT or tile flooring, while a majority also include granite countertops, subway tile backsplashes, and dishwashers.? These improvements enhance the overall resident experience and provide the property with updated finishes that are appealing to today's renter base.?
The two buildings are situated on a combined 0.44-acre site and provide 12 off-street parking spaces, including eight surface spaces and four garage stalls.? 18th Avenue Apartments is also located just a few blocks from Bottineau Field Park and Recreation Center, which offers a baseball diamond, soccer fields, an indoor gym, and other recreational amenities.? With full occupancy, updated interiors, a balanced unit mix, and convenient neighborhood access, the property presents a stable multifamily investment opportunity in Northeast Minneapolis.?
18th Avenue Apartments
Investment Highlights
- Separately Parceled Duplex: One structure has two units on it's own parcel. This will give the owner the option of selling off the duplex.
- Diverse unit mix: 1 studio, 7 one-bedrooms, and 2 two-bedrooms; average unit size of 660 and average rent of $1,152
- Parking: The property boasts 12 off-street parking spaces consisting of eight surface spaces and four garage stalls.
- Location: Northeast Minneapolis has become a hot spot for young professionals looking to settle down. Renters are attracted to the neighborhoods art culture, dining & brewery scene, historic charm, location & proximity, and relative value.
- Updated Interiors: A majority of the units have been updated with granite countertops, subway tile backsplashes and dishwashers. All the units have been updated with new LVT or tile flooring.
Exclusively Listed By
Listing Price: $1,100,000
Investment Highlights
- Separately Parceled Duplex: One structure has two units on it's own parcel. This will give the owner the option of selling off the duplex.
- Diverse unit mix: 1 studio, 7 one-bedrooms, and 2 two-bedrooms; average unit size of 660 and average rent of $1,152
- Parking: The property boasts 12 off-street parking spaces consisting of eight surface spaces and four garage stalls.
- Location: Northeast Minneapolis has become a hot spot for young professionals looking to settle down. Renters are attracted to the neighborhoods art culture, dining & brewery scene, historic charm, location & proximity, and relative value.
- Updated Interiors: A majority of the units have been updated with granite countertops, subway tile backsplashes and dishwashers. All the units have been updated with new LVT or tile flooring.
Investment Overview
Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 18th Avenue Apartments, a 10-unit multifamily community located at 338-346 18th Avenue NE, Minneapolis, MN.? 18th Avenue Apartments offers investors the opportunity to acquire a fully occupied, 10-unit multifamily property in the Holland neighborhood of Northeast Minneapolis.? Built in 1961, the property consists of two neighboring buildings with a unit mix of one studio, seven one-bedroom, and two two-bedroom residences.? The property currently maintains full occupancy, with average monthly rents of $1,152.? The residences at the 338 18th Avenue NE building have received a number of interior improvements that give the units a more updated and cohesive appearance.? Every residence in the building features new LVT or tile flooring, while a majority also include granite countertops, subway tile backsplashes, and dishwashers.? These improvements enhance the overall resident experience and provide the property with updated finishes that are appealing to today's renter base.? The two buildings are situated on a combined 0.44-acre site and provide 12 off-street parking spaces, including eight surface spaces and four garage stalls.? 18th Avenue Apartments is also located just a few blocks from Bottineau Field Park and Recreation Center, which offers a baseball diamond, soccer fields, an indoor gym, and other recreational amenities.? With full occupancy, updated interiors, a balanced unit mix, and convenient neighborhood access, the property presents a stable multifamily investment opportunity in Northeast Minneapolis.?
Exclusively Listed By
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