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Heights Apartments 5950 E River Rd NE 36 Unit Apartment Building For Sale Fridley, MN 55432
Investment Highlights
- 1/2 block from fantastic park on Mississippi
- spacious apartments
- residents pay own heat
Executive Summary
three 12 unit apartment buildings available on the same block. 36 units total. Each building is identical to the other. They are 1/2 one bedroom apartments and 1/2 two bedroom apartments. Seller will sell one, two or all three. asking price is $1.2M for each building or $3.6M for the package.
These buildings are very well located. 1/2 block to "Island of Peace Park" a park that has an island on the mississippi. It is a few blocks north of I694, so easy for residents to get anywhere.
The apartments are very large with their own furnace in each apartment. The residents love the space and the ability to control their heat perfectly. Owners should love it cause the residents pay their own heat and electric.
These buildings are very well located. 1/2 block to "Island of Peace Park" a park that has an island on the mississippi. It is a few blocks north of I694, so easy for residents to get anywhere.
The apartments are very large with their own furnace in each apartment. The residents love the space and the ability to control their heat perfectly. Owners should love it cause the residents pay their own heat and electric.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$213,445
|
$19.49
|
| Other Income |
$8,869
|
$0.81
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$222,314
|
$20.30
|
| Taxes |
$24,294
|
$2.22
|
| Operating Expenses |
$58,699
|
$5.36
|
| Total Expenses |
$82,993
|
$7.58
|
| Net Operating Income |
$139,321
|
$12.72
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $213,445 |
| Annual Per SF | $19.49 |
| Other Income (CAD) | |
|---|---|
| Annual | $8,869 |
| Annual Per SF | $0.81 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $222,314 |
| Annual Per SF | $20.30 |
| Taxes (CAD) | |
|---|---|
| Annual | $24,294 |
| Annual Per SF | $2.22 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $58,699 |
| Annual Per SF | $5.36 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $82,993 |
| Annual Per SF | $7.58 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $139,321 |
| Annual Per SF | $12.72 |
Property Facts
| Sale Type | Investment | Lot Size | 0.42 AC |
| No. Units | 36 | Building Size | 10,950 SF |
| Property Type | Multifamily | Average Occupancy | 97% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1960 |
| Building Class | C | Parking Ratio | 1.74/1,000 SF |
| Sale Type | Investment |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.42 AC |
| Building Size | 10,950 SF |
| Average Occupancy | 97% |
| No. Stories | 3 |
| Year Built | 1960 |
| Parking Ratio | 1.74/1,000 SF |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Stainless Steel Appliances
- Range
- Tub/Shower
Site Amenities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Number | 22-30-24-12-0003 | Total Assessment | $1,562,486 CAD (2026) |
| Land Assessment | $376,485 CAD (2026) | Annual Taxes | $24,294 CAD ($2.22 CAD/SF) |
| Improvements Assessment | $1,186,000 CAD (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
22-30-24-12-0003
Land Assessment
$376,485 CAD (2026)
Improvements Assessment
$1,186,000 CAD (2026)
Total Assessment
$1,562,486 CAD (2026)
Annual Taxes
$24,294 CAD ($2.22 CAD/SF)
Tax Year
2025
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Heights Apartments | 5950 E River Rd NE
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