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Bowler Lofts 1506 Laurel Ave 66 Unit Apartment Building $13,687,343 CAD ($207,384 CAD/Unit) 7.55% Cap Rate Minneapolis, MN 55403
Investment Highlights
- 66-unit fully stabilized historic apartment community
- Studio and one-bedroom unit mix
- Strong in-place rents, full occupancy
- Originally built 1893, renovated 2021
- High ceilings, large windows, modern finishes
- Walkable location near downtown Minneapolis | Access to transit, dining, parks, employers
Executive Summary
Bowler Lofts offers the opportunity to acquire a fully stabilized, 66-unit historic apartment community in a highly walkable Minneapolis location. Originally built in 1893 and renovated in 2021, the property blends classic architectural character with modern interior finishes, featuring high ceilings, large windows, quartz countertops, stainless steel appliances, and updated fixtures.
The unit mix consists of studios and one-bedroom apartments averaging 594 square feet, with strong in-place rents and full occupancy. Residents benefit from curated amenities including a lounge and coffee bar, dog run and pet wash, bike storage, controlled access, and package management.
Situated near downtown Minneapolis, the property provides immediate access to major employment centers, public transit, dining, parks, and entertainment—positioning Bowler Lofts as a high-demand rental asset in a supply-constrained urban submarket.
The unit mix consists of studios and one-bedroom apartments averaging 594 square feet, with strong in-place rents and full occupancy. Residents benefit from curated amenities including a lounge and coffee bar, dog run and pet wash, bike storage, controlled access, and package management.
Situated near downtown Minneapolis, the property provides immediate access to major employment centers, public transit, dining, parks, and entertainment—positioning Bowler Lofts as a high-demand rental asset in a supply-constrained urban submarket.
Property Facts
| Price | $13,687,343 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $207,384 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.35 AC |
| Cap Rate | 7.55% | Building Size | 39,270 SF |
| No. Units | 66 | Average Occupancy | 97% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built/Renovated | 1893/2022 |
| Price | $13,687,343 CAD |
| Price Per Unit | $207,384 CAD |
| Sale Type | Investment |
| Cap Rate | 7.55% |
| No. Units | 66 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.35 AC |
| Building Size | 39,270 SF |
| Average Occupancy | 97% |
| No. Stories | 4 |
| Year Built/Renovated | 1893/2022 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Washer/Dryer
- Heating
- Walk-In Closets
- Breakfast Nook
Site Amenities
- 24 Hour Access
- Controlled Access
- Courtyard
- Tenant Controlled HVAC
- Breakfast/Coffee Concierge
- Package Service
- Bicycle Storage
- Lounge
- Pet Washing Station
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 27-029-24-22-0046 | Improvements Assessment | $9,217,222 CAD |
| Land Assessment | $860,834 CAD | Total Assessment | $10,078,056 CAD |
Property Taxes
Parcel Number
27-029-24-22-0046
Land Assessment
$860,834 CAD
Improvements Assessment
$9,217,222 CAD
Total Assessment
$10,078,056 CAD
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Bowler Lofts | 1506 Laurel Ave
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