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2007 Aldrich Ave S 12 Unit Apartment Building $2,353,752 CAD ($196,146 CAD/Unit) 7.92% Cap Rate Minneapolis, MN 55405
Investment Highlights
- 12 spacious 2-bedroom units averaging approximately 1,000 SF | Market rents of approximately $1,550/unit, providing potential for continued rental
- Newer kitchen finishes | $134,556 Year 1 Pro Forma NOI | 7.92% cap rate
- New roof installed in 2023
- Large-format floor plans | $133,745 trailing NOI | 7.87% going-in cap rate
- Newer mechanical systems | 9.33% Year 1 projected cash-on-cash return based on modeled financing
- 100% occupied with average in-place rents of approximately $1,457/unit
Executive Summary
2007 Aldrich Ave S presents a compelling multifamily investment opportunity in Minneapolis’ highly desirable Lowry Hill East neighborhood. The property features exceptionally large two-bedroom units, offering a differentiated unit mix in one of South Minneapolis’ most established and sought-after rental markets. The asset benefits from its proximity to Uptown, the Chain of Lakes, major highways and interstates, and a wide variety of dining, retail, entertainment, and recreational amenities. With a strong location, oversized floor plans, and potential for continued rental growth, 2007 Aldrich Ave S offers investors an attractive opportunity to acquire a well-positioned South Minneapolis multifamily asset.
Property Facts
| Price | $2,353,752 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $196,146 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 7.92% | Building Size | 12,000 SF |
| No. Units | 12 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1900 |
| Price | $2,353,752 CAD |
| Price Per Unit | $196,146 CAD |
| Sale Type | Investment |
| Cap Rate | 7.92% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 12,000 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1900 |
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Exceptionally walkable
90/100
Very drivable
80/100
Exceptional public transit
90/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 33-029-24-11-0048 | Improvements Assessment | $176,191 CAD |
| Land Assessment | $18,342 CAD | Total Assessment | $194,533 CAD |
Property Taxes
Parcel Number
33-029-24-11-0048
Land Assessment
$18,342 CAD
Improvements Assessment
$176,191 CAD
Total Assessment
$194,533 CAD
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2007 Aldrich Ave S
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