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Multifamily

4001 Mavelle Dr

4001 Mavelle Dr, Minneapolis, MN 55435

Listing Price: $1,850,000

Cap Rate
4.34%
Number of Units
12
GRM
12.32
Occupancy
96.5%
Price/Unit
$154,167
Price/Gross SF
$245.03
Gross SF
7,550

Investment Overview

Marcus & Millichap is pleased to present for sale, the historic Isles-Uptown-Edina Portfolio. Comprised of seven buildings and a total of forty-nine units, investors have the unique opportunity to acquire a portfolio of legacy assets located in some of the States most affluent communities. Built 1926 thru 1961, these boutique multi-family buildings benefits from long-term family ownership and a truly dynamic A+ core location. These properties are being offered for sale on a free-and-clear basis.

Located in Edina at 4001 Mavelle Drive, the property is set within a few blocks of the Galleria, an upscale shopping complex, and Southdale Center, the nations first enclosed shopping mall. Edina offers award-winning schools and state of the art parks, as well as a thriving business district and an affluent demographic which boasted an impressive average sale price of homes at $675,000 in March 2021. The city of Edina is particularly popular for commuters in the Metro area who will find themselves within a 25-minute radius of Minneapolis, Saint Paul and the MSP International Airport. The property itself consists of twelve apartments; 1 studio/one-bath and 11 two-bed/one-bath units. The unit size for the two-bedrooms are approximately 625 SF with rent from $940-$1,159. The single studio unit spans across 450 SF with in-place rent at $760 per month. Community amenities include one garage stall per unit (totaling 12 stalls) and on-site laundry.

Investment Highlights

  • Opportunity to Acquire a 7 Building Legacy Portfolio in Irreplaceable A+ Location
  • High Barrier-to-Entry Neighborhoods of Cedar-Isles-Dean/Uptown/Edina
  • Additional Rent Premiums of $150-$400 Per Unit Through Strategic Upgrades
  • 5 of 7 Buildings located on One Block of Xerxes Avenue South; Steps from Cedar Lake
  • Long Term Family Ownership; Well Maintained and Cared For
  • Proximity to Planned Southwest Green Line LRT Extension Along the Chain of Lakes

Exclusively Listed By

Listing Price: $1,850,000

Cap Rate
4.34%
Number of Units
12
GRM
12.32
Occupancy
96.5%
Price/Unit
$154,167
Price/Gross SF
$245.03
Gross SF
7,550

Investment Highlights

  • Opportunity to Acquire a 7 Building Legacy Portfolio in Irreplaceable A+ Location
  • High Barrier-to-Entry Neighborhoods of Cedar-Isles-Dean/Uptown/Edina
  • Additional Rent Premiums of $150-$400 Per Unit Through Strategic Upgrades
  • 5 of 7 Buildings located on One Block of Xerxes Avenue South; Steps from Cedar Lake
  • Long Term Family Ownership; Well Maintained and Cared For
  • Proximity to Planned Southwest Green Line LRT Extension Along the Chain of Lakes

Investment Overview

Marcus & Millichap is pleased to present for sale, the historic Isles-Uptown-Edina Portfolio. Comprised of seven buildings and a total of forty-nine units, investors have the unique opportunity to acquire a portfolio of legacy assets located in some of the States most affluent communities. Built 1926 thru 1961, these boutique multi-family buildings benefits from long-term family ownership and a truly dynamic A+ core location. These properties are being offered for sale on a free-and-clear basis.

Located in Edina at 4001 Mavelle Drive, the property is set within a few blocks of the Galleria, an upscale shopping complex, and Southdale Center, the nations first enclosed shopping mall. Edina offers award-winning schools and state of the art parks, as well as a thriving business district and an affluent demographic which boasted an impressive average sale price of homes at $675,000 in March 2021. The city of Edina is particularly popular for commuters in the Metro area who will find themselves within a 25-minute radius of Minneapolis, Saint Paul and the MSP International Airport. The property itself consists of twelve apartments; 1 studio/one-bath and 11 two-bed/one-bath units. The unit size for the two-bedrooms are approximately 625 SF with rent from $940-$1,159. The single studio unit spans across 450 SF with in-place rent at $760 per month. Community amenities include one garage stall per unit (totaling 12 stalls) and on-site laundry.

Exclusively Listed By

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