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2631 Columbus Ave 33 Unit Apartment Building $5,524,272 CAD ($167,402 CAD/Unit) Minneapolis, MN 55407
Investment Highlights
- Fully Stabilized 33-Unit Asset with large one-bedroom units
- Excellent Healthcare Location near Allina Health, Abbott Northwestern, and major medical employment hubs
- Majority of Units Remodeled with updated interior finishes. Large Rear Parking Lot provides additional parking income potential
- RUBS in Place for utility reimbursement and improved cash flow
- 4D Potential offers substantial property tax savings upside
- Brand New Roof installed June 2026. Strong CapEx Profile with major building systems recently improved or in excellent condition
Executive Summary
View property homepage here: https://2631columbusave.sharplaunch.com/
Columbus is a fully stabilized 33-unit apartment community consisting entirely of large one-bedroom units in a prime Minneapolis healthcare corridor. The property benefits from a RUBS program in place, allowing ownership to recover a portion of utility expenses, as well as a majority of units remodeled and major capital improvements already completed, including a brand new roof installed in June 2026. Additional upside exists through potential 4D tax savings, increased parking income from the large rear lot, and storage income opportunities.
For more info and to schedule a property tour please reach out to Rocco Curella - (651) 398-0291
Columbus is a fully stabilized 33-unit apartment community consisting entirely of large one-bedroom units in a prime Minneapolis healthcare corridor. The property benefits from a RUBS program in place, allowing ownership to recover a portion of utility expenses, as well as a majority of units remodeled and major capital improvements already completed, including a brand new roof installed in June 2026. Additional upside exists through potential 4D tax savings, increased parking income from the large rear lot, and storage income opportunities.
For more info and to schedule a property tour please reach out to Rocco Curella - (651) 398-0291
Property Facts
| Price | $5,524,272 CAD | Lot Size | 0.47 AC |
| Price Per Unit | $167,402 CAD | Building Size | 24,678 SF |
| Sale Type | Investment | Average Occupancy | 97% |
| No. Units | 33 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1972/2020 |
| Property Subtype | Apartment | Parking Ratio | 0.97/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | OR2 | ||
| Price | $5,524,272 CAD |
| Price Per Unit | $167,402 CAD |
| Sale Type | Investment |
| No. Units | 33 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.47 AC |
| Building Size | 24,678 SF |
| Average Occupancy | 97% |
| No. Stories | 3 |
| Year Built/Renovated | 1972/2020 |
| Parking Ratio | 0.97/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | OR2 |
Amenities
Unit Amenities
- Dishwasher
- Disposal
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Carpet
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Security System
- Smoke Free
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,249 CAD | 550 |
| 1+1 | 27 | $1,594 CAD | 700 - 750 |
| 2+1 | 5 | $2,179 CAD | - |
1 1
Exceptionally walkable
90/100
Fairly drivable
50/100
Strong public transit
80/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Number | 35-029-24-32-0315 | Improvements Assessment | $3,756,080 CAD |
| Land Assessment | $343,213 CAD | Total Assessment | $4,099,293 CAD |
Property Taxes
Parcel Number
35-029-24-32-0315
Land Assessment
$343,213 CAD
Improvements Assessment
$3,756,080 CAD
Total Assessment
$4,099,293 CAD
Contacts
-
Doug McNicoll -
Rocco Curella -
MaryPat McNicoll -
Jake Mahabadi -
MRG Realty Partners
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2631 Columbus Ave
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