5035 3rd Street NE | 7-Unit 5035 3rd St NE 7 Unit Apartment Building $1,088,411 CAD ($155,487 CAD/Unit) 6.90% Cap Rate Minneapolis, MN 55421

5035 3rd Street NE is a well-maintained seven-unit multifamily apartment property located in Fridley, Minnesota. The asset consists entirely of seven one-bedroom apartment units, offering a simple, efficient unit mix well suited for long-term rental demand and streamlined operations.
The property has seen several recent capital improvements, including a newly installed roof, new mini-split heating and cooling systems throughout, and newer windows, collectively supporting reduced near-term capital needs and improved energy efficiency. Units are in solid condition, and the property includes ample off-street parking and on-site storage, enhancing tenant functionality.
Located in an established residential area with convenient access to major roadways, employment centers, and daily amenities, 5035 3rd Street NE is well positioned as a conventional multifamily rental asset. With in-place income, recent mechanical and exterior upgrades, and a straightforward operating profile, the property presents a stable investment opportunity for small-balance multifamily buyers.