2009-2017 Commerce Blvd 23 Unit Apartment Building For Sale Mound, MN 55364

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Commerce Boulevard Apartments, a 23-unit multifamily community located at 2009 & 2017 Commerce Boulevard, Mound, Minnesota.
Commerce Boulevard Apartments is situated just off Lake Minnetonka’s Harrison Bay, offering residents convenient access to one of the area’s most recognizable natural amenities while maintaining a residential setting within the western Twin Cities metro. The property’s Mound location provides a balance of neighborhood convenience, proximity to outdoor recreation, and walkable access to downtown Mound, supporting continued renter appeal in the market.
Built in 1964 and 1968, Commerce Boulevard Apartments is comprised of two neighboring apartment buildings situated on a combined 0.57- acre site. The property features a total of 23 residences, including 8 studio units and 15 one-bedroom units. In total, the residences average approximately 663 square feet in size and achieve average rents of approximately $1,152 per month. Additionally, 15 of the 23 units have recently been renovated, providing investors with an asset that benefits from meaningful in-place unit improvements.
Commerce Boulevard Apartments offers investors the opportunity to acquire a manageable multifamily asset in a desirable Lake Minnetonka- area community. The property also features 23 surface parking spaces, providing convenient on-site parking for residents. With its efficient unit mix, accessible location, and proximity to Harrison Bay, the property is well positioned for continued rental demand in the Mound market.