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1314 W Apartments 1314 W 28th St 16 Unit Apartment Building For Sale Minneapolis, MN 55408
Investment Highlights
- Irreplaceable Uptown Minneapolis Location
- Built-In Rent Upside
- Needed Market-Rate Workforce Housing
- Day-One Cash Flow
- Grandfathered 4D Tax Classification
Executive Summary
Colliers is pleased to offer 1314 W 28th St, a 16-unit apartment community in the heart of Minneapolis' Uptown Chain of Lakes neighborhood. The property is 100% occupied with a diversified mix of studios through three bedrooms, averaging $1,102 per unit, approximately 7% below estimated market rents, offering immediate organic
upside without capital investment.
Located between Lyndale and Hennepin Avenues, the property benefits from strong neighborhood fundamentals, including walkability, proximity to Lake of the Isles and Bde Maka Ska, and direct access to the Midtown Greenway. While the broader Uptown market experienced troubles in the years following COVID, the area is showing clear signs of recovery with tightening vacancy, renewed retail and restaurant activity, and growing renter interest, Minneapolis ranked third nationally in renter demand entering 2026 per RentCafe, with apartment searches up 29% year-over-year.
The Twin Cities multifamily landscape continues to favor existing product, with new deliveries declining sharply to approximately 3,200 units in 2025, down from 26,000 over the prior three years. As naturally occurring workforce housing with rents accessible to essential workers, the property fills a critical gap where demand is deepest and
new construction cannot compete. The metro's diversified employment base, anchored by the second highest concentration of Fortune 500 headquarters per capita of any major U.S. metro, underpins durable long-term rental demand.
Offered unpriced, Colliers is seeking qualified investors for this stabilized, cash-flowing asset in an urban submarket with strong long-term positioning.
upside without capital investment.
Located between Lyndale and Hennepin Avenues, the property benefits from strong neighborhood fundamentals, including walkability, proximity to Lake of the Isles and Bde Maka Ska, and direct access to the Midtown Greenway. While the broader Uptown market experienced troubles in the years following COVID, the area is showing clear signs of recovery with tightening vacancy, renewed retail and restaurant activity, and growing renter interest, Minneapolis ranked third nationally in renter demand entering 2026 per RentCafe, with apartment searches up 29% year-over-year.
The Twin Cities multifamily landscape continues to favor existing product, with new deliveries declining sharply to approximately 3,200 units in 2025, down from 26,000 over the prior three years. As naturally occurring workforce housing with rents accessible to essential workers, the property fills a critical gap where demand is deepest and
new construction cannot compete. The metro's diversified employment base, anchored by the second highest concentration of Fortune 500 headquarters per capita of any major U.S. metro, underpins durable long-term rental demand.
Offered unpriced, Colliers is seeking qualified investors for this stabilized, cash-flowing asset in an urban submarket with strong long-term positioning.
Property Facts
| Sale Type | Investment | Lot Size | 0.27 AC |
| No. Units | 16 | Building Size | 8,146 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1972 |
| Building Class | C | Parking Ratio | 2.46/1,000 SF |
| Zoning | R6 | ||
| Sale Type | Investment |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 8,146 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1972 |
| Parking Ratio | 2.46/1,000 SF |
| Zoning | R6 |
Amenities
Unit Amenities
- Heating
- Kitchen
- Range
Site Amenities
- 24 Hour Access
- Grill
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | $1,223 CAD | - |
Exceptionally walkable
90/100
Very drivable
80/100
Strong public transit
80/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Number | 33-029-24-42-0237 | Improvements Assessment | $1,705,339 CAD |
| Land Assessment | $795,477 CAD | Total Assessment | $2,500,816 CAD |
Property Taxes
Parcel Number
33-029-24-42-0237
Land Assessment
$795,477 CAD
Improvements Assessment
$1,705,339 CAD
Total Assessment
$2,500,816 CAD
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1314 W Apartments | 1314 W 28th St
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