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4927-4935 University Ave NE 22 Unit Apartment Building $2,728,480 CAD ($124,022 CAD/Unit) 8% Cap Rate Columbia Heights, MN 55421
Investment Highlights
- Great location
Executive Summary
Welcome to 4929-35 University Avenue NE—a vibrant investment opportunity featuring two buildings with 11 units in each building, offering a fantastic ~8% cap rate. Many units have been refreshed with new flooring, appliances, and paint, enhancing their appeal and tenant satisfaction. Each building is unit with wall air conditioning units and a new boiler in the 4935 building, ensuring comfort year-round. Tenants will appreciate the convenience of an on-site parking lot, including parking space for each unit. The complex is secured with a modern security system, providing peace of mind for both tenants and owners. With market rents ranging from $950 to $1000 per unit, this multifamily property is a prime candidate for investors seeking steady income in a thriving area. The units feature refrigerators, ranges, and a dishwasher, combining functionality with comfort. Don't miss out on this promising opportunity in a dynamic neighborhood, offering excellent potential for growth and stable returns.
Property Facts
| Price | $2,728,480 CAD | Building Class | C |
| Price Per Unit | $124,022 CAD | Lot Size | 0.48 AC |
| Sale Type | Investment | Building Size | 18,560 SF |
| Cap Rate | 8% | Average Occupancy | 100% |
| No. Units | 22 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 1.18/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R3, Columbia Heights - Multiple Family Residential District | ||
| Price | $2,728,480 CAD |
| Price Per Unit | $124,022 CAD |
| Sale Type | Investment |
| Cap Rate | 8% |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.48 AC |
| Building Size | 18,560 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.18/1,000 SF |
| Zoning | R3, Columbia Heights - Multiple Family Residential District |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Carpet
- Smoke Free
- Window Coverings
Site Amenities
- Laundry Facilities
- Security System
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 22 | - | 700 |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,550,459 CAD | |
| Land Assessment | $664,931 CAD | Total Assessment | $2,215,389 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$664,931 CAD
Improvements Assessment
$1,550,459 CAD
Total Assessment
$2,215,389 CAD
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4927-4935 University Ave NE
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