Multifamily

Sterling Square

6640-6700 Humboldt Avenue N, Brooklyn Center, MN 55430

Listing Price: $6,000,000

Cap Rate
6.48%
Number of Units
54
GRM
7.68
Occupancy
95.00%
Price/Unit
$111,111
Price/Gross SF
$135.44
Gross SF
44,300

Investment Overview

Located in the northeast portion of Brooklyn Center, directly north of Minneapolis and less than 1.5 miles west of the Mississippi River are the Sterling Square Apartments. This 54-unit community consists of four buildings, each on its own parcel with a total parcel area of 3.42 acres. Together the buildings boast a strong unit-mix consisting of one, two, and three-bedroom apartments currently ranging from $860 to $1,665 per month. The property has a total of 44,300 rentable square feet and an average unit size of 820 square feet across all unit types. Sterling Square Apartments offers community amenities such as on-site laundry, a playground with picnic area, garage parking, and controlled access. Notable in-unit highlights include patios/balconies and upgraded kitchens. The community also benefits from convenient access to the Humboldt Ave N & 67th Ave N Metro Transit bus stop positioned adjacent to the property boundaries along N Humboldt Avenue offering morning and evening routes into downtown Minneapolis.

Located just north of I-694, where I-694 intersects both I-94 and MN-100, resi-dents are well positioned to take advantage of major transportation corridors that make for an easy commute into the Twin Cities. With convenient access to sur-rounding areas, tenants can choose from thousands of jobs, as well as top dining, shopping and entertainment options. The properties location is also ideal for those who enjoy the outdoors given its position between Centennial Park, Islands of Peace Regional Park, and Palmer Lake Park. Palmer Lake Park is less than 1 mile from Sterling Square and is one of Brooklyn Parks largest natural environmental preserves with over 200 acres. Other recreational activities located within a 1.5 mile radius include the Brooklyn Center Community Center, Topgolf, Centerbrook Golf Course, and shopping at the Shingle Creek Center. Additionally, Sterling Square sits adjacent to both the Brooklyn Center Police Department and Brooklyn Center High School.

Investment Highlights

  • 56 garage stalls and 56 off-street parking spaces
  • On-site laundry facilities with a total of 16 machines
  • Just north of where I-694 intersects I-94 and MN-100
  • Close proximityto Brooklyn Center High School andPolice Department
  • High Yielding Asset; In-Place Cap Rate of 6.48%
  • 62 garage stalls and 62 off-street parking spaces

Exclusively Listed By

Listing Price: $6,000,000

Cap Rate
6.48%
Number of Units
54
GRM
7.68
Occupancy
95.00%
Price/Unit
$111,111
Price/Gross SF
$135.44
Gross SF
44,300

Investment Highlights

  • 56 garage stalls and 56 off-street parking spaces
  • On-site laundry facilities with a total of 16 machines
  • Just north of where I-694 intersects I-94 and MN-100
  • Close proximityto Brooklyn Center High School andPolice Department
  • High Yielding Asset; In-Place Cap Rate of 6.48%
  • 62 garage stalls and 62 off-street parking spaces

Investment Overview

Located in the northeast portion of Brooklyn Center, directly north of Minneapolis and less than 1.5 miles west of the Mississippi River are the Sterling Square Apartments. This 54-unit community consists of four buildings, each on its own parcel with a total parcel area of 3.42 acres. Together the buildings boast a strong unit-mix consisting of one, two, and three-bedroom apartments currently ranging from $860 to $1,665 per month. The property has a total of 44,300 rentable square feet and an average unit size of 820 square feet across all unit types. Sterling Square Apartments offers community amenities such as on-site laundry, a playground with picnic area, garage parking, and controlled access. Notable in-unit highlights include patios/balconies and upgraded kitchens. The community also benefits from convenient access to the Humboldt Ave N & 67th Ave N Metro Transit bus stop positioned adjacent to the property boundaries along N Humboldt Avenue offering morning and evening routes into downtown Minneapolis.

Located just north of I-694, where I-694 intersects both I-94 and MN-100, resi-dents are well positioned to take advantage of major transportation corridors that make for an easy commute into the Twin Cities. With convenient access to sur-rounding areas, tenants can choose from thousands of jobs, as well as top dining, shopping and entertainment options. The properties location is also ideal for those who enjoy the outdoors given its position between Centennial Park, Islands of Peace Regional Park, and Palmer Lake Park. Palmer Lake Park is less than 1 mile from Sterling Square and is one of Brooklyn Parks largest natural environmental preserves with over 200 acres. Other recreational activities located within a 1.5 mile radius include the Brooklyn Center Community Center, Topgolf, Centerbrook Golf Course, and shopping at the Shingle Creek Center. Additionally, Sterling Square sits adjacent to both the Brooklyn Center Police Department and Brooklyn Center High School.

Exclusively Listed By

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