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3322 Blaisdell Ave 14 Unit Apartment Building $2,122,508 CAD ($151,608 CAD/Unit) 6.25% Cap Rate Minneapolis, MN 55408
Investment Highlights
- Very Clean Building
- Assumable Freddie Mac Laon
- 100% Occupied - Strong Rental History
Executive Summary
Very clean professionally managed 14 Unit (6 1Br & 8 Studios) Brownstone in the heart of South Mpls featuring spacious studios and one-bedroom apartments with loads of character and charm throughout the building. Located in the Lyndale neighborhood with a great walk score of 83 - Shopping, dining, nightlife and entertainment are within blocks in every direction as well as the famous "Eat-Street". Newer roof, boiler, common area updates and updated units. 15 off street parking spaces (extra PID behind building). Great addition to any investment portfolio! No need to get financing, Buyer to assume a very low-interest rate Freddie Mac mortgage of 3.46%, maturing in February of 2031. Opportunities like this do not come along often. 24-hour notice for showings.
Property Facts
| Price | $2,122,508 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $151,608 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.18 AC |
| Cap Rate | 6.25% | Building Size | 7,756 SF |
| Gross Rent Multiplier | 8.54 | Average Occupancy | 100% |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1939 |
| Property Subtype | Apartment | Parking Ratio | 0.64/1,000 SF |
| Zoning | R5 | ||
| Price | $2,122,508 CAD |
| Price Per Unit | $151,608 CAD |
| Sale Type | Investment |
| Cap Rate | 6.25% |
| Gross Rent Multiplier | 8.54 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 7,756 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1939 |
| Parking Ratio | 0.64/1,000 SF |
| Zoning | R5 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 8 | - | 350 - 490 |
| 1+1 | 6 | - | - |
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Very walkable
80/100
Exceptionally drivable
90/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,535,100 CAD | |
| Land Assessment | $288,397 CAD | Total Assessment | $1,823,498 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$288,397 CAD
Improvements Assessment
$1,535,100 CAD
Total Assessment
$1,823,498 CAD
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3322 Blaisdell Ave
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