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Park & Franklin Lofts 1935 Park Ave 43 Unit Apartment Building For Sale Minneapolis, MN 55404
INVESTMENT HIGHLIGHTS
- Near perfect mixture of units
- Strong resident community engagement
- Stable 95% occupancy trending to fully occupied by Q4
EXECUTIVE SUMMARY
GJG Commercial-Real Broker presents Park & Franklin Lofts. An exceptional investment opportunity in south Minneapolis' emerging Ventura Village submarket. The newer built property offers the new owner a combination of modern construction quality, stable cash flow, and substantial value-add potential in a rapidly developing urban corridor. With excellent transit connectivity via the Light Rail Blue Line, bike paths, and the bus line, it has proximity to all the area demand drivers of major employment centers. Most notably Abbott Northwestern Hospital, Allina Health, Children’s Hospital, including St. Mary’s University and Minneapolis College Art & Design. The Asset is strategically positioned to capitalize on Minneapolis' continued growth and urban revitalization trends including the new street system along Franklin Avenue which is expected to be completed by 2027.
This prime property offers diverse unit configurations from contemporary studios to spacious three-bedroom residences. Strategically positioned in a high-demand submarket, the
property capitalizes on Minneapolis's dynamic urban growth. Park & Franklin Lofts combines immediate return potential with long-term value enhancement opportunities, making it an exceptional gateway to one of the region's most promising real estate markets and an attractive addition to any investment portfolio.
This prime property offers diverse unit configurations from contemporary studios to spacious three-bedroom residences. Strategically positioned in a high-demand submarket, the
property capitalizes on Minneapolis's dynamic urban growth. Park & Franklin Lofts combines immediate return potential with long-term value enhancement opportunities, making it an exceptional gateway to one of the region's most promising real estate markets and an attractive addition to any investment portfolio.
DATA ROOM Click Here to Access
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 0.36 AC |
| No. Units | 43 | Building Size | 34,892 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 2021 |
| Apartment Style | Mid-Rise | Opportunity Zone |
Yes
|
| Building Class | A | ||
| Zoning | R6 | ||
| Sale Type | Investment |
| No. Units | 43 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | A |
| Lot Size | 0.36 AC |
| Building Size | 34,892 SF |
| No. Stories | 4 |
| Year Built | 2021 |
| Opportunity Zone |
Yes |
| Zoning | R6 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Microwave
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Carpet
- Freezer
- Window Coverings
SITE AMENITIES
- Laundry Facilities
- Bicycle Storage
- Community-Wide WiFi
- Lounge
- Online Services
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 13 | - | 314 - 426 |
| 1+1 | 13 | - | 511 - 626 |
| 2+1 | 8 | - | 708 |
| 3+1 | 9 | - | 828 - 866 |
Walk Score®
Very Walkable (84)
Transit Score®
Excellent Transit (70)
Bike Score®
Biker's Paradise (96)
PROPERTY TAXES
| Parcel Number | 26-029-24-33-0122 | Improvements Assessment | $7,302,165 CAD |
| Land Assessment | $157,752 CAD | Total Assessment | $7,459,917 CAD |
PROPERTY TAXES
Parcel Number
26-029-24-33-0122
Land Assessment
$157,752 CAD
Improvements Assessment
$7,302,165 CAD
Total Assessment
$7,459,917 CAD
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Presented by
Grant Johnson Group - Real Broker
Park & Franklin Lofts | 1935 Park Ave
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