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2528 17th Ave S 10 Unit Apartment Building $1,242,684 CAD ($124,268 CAD/Unit) 8.94% Cap Rate Minneapolis, MN 55404
Executive Summary
Excellent opportunity to acquire a fully occupied 10-unit apartment building with strong in-place cash flow. This well-maintained property features updated units, a newer roof, updated exterior wood components, replacement shakes, and newer windows, helping reduce future capital expenditures. Generating approximately $117,000 in annual gross rental income, this stabilized asset offers immediate income with additional upside through long-term ownership. All units are occupied, providing consistent cash flow from day one. Ideal for investors looking to expand their portfolio or complete a 1031 exchange.
Property Facts
| Price | $1,242,684 CAD | Building Class | C |
| Price Per Unit | $124,268 CAD | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 4,344 SF |
| Cap Rate | 8.94% | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1963/2025 |
| Property Subtype | Apartment | Parking Ratio | 2.3/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R2B - Multiple Family District | ||
| Price | $1,242,684 CAD |
| Price Per Unit | $124,268 CAD |
| Sale Type | Investment |
| Cap Rate | 8.94% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 4,344 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1963/2025 |
| Parking Ratio | 2.3/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R2B - Multiple Family District |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 9 | $1,349 CAD | - |
| 2+1 | 1 | $1,846 CAD | - |
1 1
Exceptionally walkable
90/100
Moderately drivable
60/100
Good public transit
70/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 35-029-24-14-0115 | Improvements Assessment | $735,496 CAD |
| Land Assessment | $136,813 CAD | Total Assessment | $872,310 CAD |
Property Taxes
Parcel Number
35-029-24-14-0115
Land Assessment
$136,813 CAD
Improvements Assessment
$735,496 CAD
Total Assessment
$872,310 CAD
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Compass Minnesota
2528 17th Ave S
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