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7444 Cedar Ave S 23 Unité Immeuble d’appartements 3 993 231 $ CAD (173 619 $ CAD/Unité) 7,27% Taux de capitalisation Richfield, MN 55423
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FAITS SAILLANTS DE L'INVESTISSEMENT
- NEWER ROOF AND WINDOWS
- 10 DETACHED GARAGES
- SITS ON A SUPER LARGE 0.88 ACRES
- ALL BRICK EXTERIOR
- 100% FULLY OCCUPIED AND STABILIZED
- NEWER ELECTRICAL CIRCUIT PANELS
RÉSUMÉ DE L'ANNONCE
Introducing a unique investment opportunity in the heart of Richfield, Minnesota! This expansive property located at 7444 Cedar Ave boasts a total of 23 units with a combined square footage of 21,840, making it an ideal investment for those looking to expand their apartment rental portfolio. The asset sits on over 0.88 acres, on a bus route, and close to the Mall of America! Prime for a re-development opportunity!
Built in 1966, this very well-maintained building features a mix of 18 spacious two-bedroom units and 5 cozy one-bedroom units, providing a variety of options for potential renters. Additionally, the property includes 10 detached garages, ensuring that tenants have ample space to park their vehicles.
The exterior of the property is well-maintained and features a classic brick façade, while the interior of the units are spacious and have updated appliances. The property is conveniently located near major transportation routes, making it easy for tenants to commute to work or enjoy all that Richfield has to offer.
Investors looking for a turn-key property with strong cash flow potential will appreciate the low maintenance costs and high rental demand in the area. Don't miss out on this rare opportunity to own a property that is fully occupied and turn-key in a non-rent controlled city on Minnesota!
The brick exterior façade makes this property shine. There are many updates in recent years including the front and rear entryways, security cameras, newer vinyl windows (2014), brand new commercial grade water heater replaced in 2023, and a newer roof on both the building and garages replaced in 2014. In 2025 all the electrical panels were swapped out with new breakers making this asset easier to insure.
PROPERTY FACTS
Year Built: 1966
Square Footage: 21,840
Units: 23
Zoning: Multiple-family District
Parking: 10 Garage Stalls plus plenty of off street parking
Exterior: Brick
Heating: Boiler
Roof: Flat - New installed by All Elements, Inc. in 2014
UNIT DESCRIPTION
18 - 2 bedroom, 1 bath - Approx. 910+ Sqft.
5 - 1 bedroom, 1 bath - Approx. 750+ Sqft
PROPERTY IMPROVEMENTS
2025: New Electrical Panels with Circuit Breakers
2023: New Commercial High-Efficiency Water Heater built by Bock.
2018: New Carpet in Hallways, Common Areas, Entry Way
2014: Roof - Durolast by All Elements, Inc. with 15 year warranty
2013: Windows - Installed vinyl replacement sliders by Window World, Inc.
PRICE: $2,875,000
Information is deemed reliable but not guaranteed. Buyer and Buyer's agent to verify all details.
Built in 1966, this very well-maintained building features a mix of 18 spacious two-bedroom units and 5 cozy one-bedroom units, providing a variety of options for potential renters. Additionally, the property includes 10 detached garages, ensuring that tenants have ample space to park their vehicles.
The exterior of the property is well-maintained and features a classic brick façade, while the interior of the units are spacious and have updated appliances. The property is conveniently located near major transportation routes, making it easy for tenants to commute to work or enjoy all that Richfield has to offer.
Investors looking for a turn-key property with strong cash flow potential will appreciate the low maintenance costs and high rental demand in the area. Don't miss out on this rare opportunity to own a property that is fully occupied and turn-key in a non-rent controlled city on Minnesota!
The brick exterior façade makes this property shine. There are many updates in recent years including the front and rear entryways, security cameras, newer vinyl windows (2014), brand new commercial grade water heater replaced in 2023, and a newer roof on both the building and garages replaced in 2014. In 2025 all the electrical panels were swapped out with new breakers making this asset easier to insure.
PROPERTY FACTS
Year Built: 1966
Square Footage: 21,840
Units: 23
Zoning: Multiple-family District
Parking: 10 Garage Stalls plus plenty of off street parking
Exterior: Brick
Heating: Boiler
Roof: Flat - New installed by All Elements, Inc. in 2014
UNIT DESCRIPTION
18 - 2 bedroom, 1 bath - Approx. 910+ Sqft.
5 - 1 bedroom, 1 bath - Approx. 750+ Sqft
PROPERTY IMPROVEMENTS
2025: New Electrical Panels with Circuit Breakers
2023: New Commercial High-Efficiency Water Heater built by Bock.
2018: New Carpet in Hallways, Common Areas, Entry Way
2014: Roof - Durolast by All Elements, Inc. with 15 year warranty
2013: Windows - Installed vinyl replacement sliders by Window World, Inc.
PRICE: $2,875,000
Information is deemed reliable but not guaranteed. Buyer and Buyer's agent to verify all details.
SALLE DE DONNÉES Cliquez ici pour accéder à
BILAN FINANCIER (PRO FORMA - 2026) |
ANNUEL (CAD) | ANNUEL PAR pi² (CAD) |
|---|---|---|
| Revenu de location brut |
455 020 $
|
21,67 $
|
| Autres revenus |
15 251 $
|
0,73 $
|
| Perte due à l’inoccupation |
6 825 $
|
0,33 $
|
| Revenu brut effectif |
463 445 $
|
22,07 $
|
| Taxes |
65 382 $
|
3,11 $
|
| Dépenses d’exploitation |
107 939 $
|
5,14 $
|
| Total des dépenses |
173 322 $
|
8,25 $
|
| Revenu net d’exploitation |
290 124 $
|
13,82 $
|
BILAN FINANCIER (PRO FORMA - 2026)
| Revenu de location brut (CAD) | |
|---|---|
| Annuel | 455 020 $ |
| Annuel par pi² | 21,67 $ |
| Autres revenus (CAD) | |
|---|---|
| Annuel | 15 251 $ |
| Annuel par pi² | 0,73 $ |
| Perte due à l’inoccupation (CAD) | |
|---|---|
| Annuel | 6 825 $ |
| Annuel par pi² | 0,33 $ |
| Revenu brut effectif (CAD) | |
|---|---|
| Annuel | 463 445 $ |
| Annuel par pi² | 22,07 $ |
| Taxes (CAD) | |
|---|---|
| Annuel | 65 382 $ |
| Annuel par pi² | 3,11 $ |
| Dépenses d’exploitation (CAD) | |
|---|---|
| Annuel | 107 939 $ |
| Annuel par pi² | 5,14 $ |
| Total des dépenses (CAD) | |
|---|---|
| Annuel | 173 322 $ |
| Annuel par pi² | 8,25 $ |
| Revenu net d’exploitation (CAD) | |
|---|---|
| Annuel | 290 124 $ |
| Annuel par pi² | 13,82 $ |
FAITS SUR LA PROPRIÉTÉ
| Prix | 3 993 231 $ CAD | Style d’appartement | De faible hauteur |
| Prix par unité | 173 619 $ CAD | Classe d’immeuble | C |
| Type de vente | Investissement | Taille du lot | 0,88 AC |
| Taux de capitalisation | 7,27% | Taille du bâtiment | 21 840 pi² |
| Condition de vente | 1031 Échange | Occupation moyenne | 100% |
| Multiplicateur du loyer brut | 8.61 | Nombre d’étages | 3 |
| Nombre d’unités | 23 | Année de construction/rénovation | 1966/2010 |
| Type de propriété | Immeuble residentiel | Ratio de stationnement | 1,37/1 000 pi² |
| Sous-type de propriété | Appartement | ||
| Zonage | Multi-Family - Multifamilial | ||
| Prix | 3 993 231 $ CAD |
| Prix par unité | 173 619 $ CAD |
| Type de vente | Investissement |
| Taux de capitalisation | 7,27% |
| Condition de vente | 1031 Échange |
| Multiplicateur du loyer brut | 8.61 |
| Nombre d’unités | 23 |
| Type de propriété | Immeuble residentiel |
| Sous-type de propriété | Appartement |
| Style d’appartement | De faible hauteur |
| Classe d’immeuble | C |
| Taille du lot | 0,88 AC |
| Taille du bâtiment | 21 840 pi² |
| Occupation moyenne | 100% |
| Nombre d’étages | 3 |
| Année de construction/rénovation | 1966/2010 |
| Ratio de stationnement | 1,37/1 000 pi² |
| Zonage | Multi-Family - Multifamilial |
COMMODITÉS
- Détecteur de fumée
COMMODITÉS DES UNITÉS
- Climatisation
- Prêt pour le câble
- Lave-vaisselle
- Micro-ondes
- Chauffage
- Ventilateurs de plafond
- Planchers de tuiles
- Cuisine avec coin repas
- Cuisine
- Planchers de bois franc
- Réfrigérateur
- Four
- Fourchette
- Tapis
- Cour
- Fenêtres à double vitrage
- Congélateur
- Intercom
- Pelouse
- Plancher de vinyle
COMMODITÉS DU SITE
- Accès contrôlé
- Installations de lessive
- Espace de pique-nique
UNITÉ RENSEIGNEMENTS SUR LE MÉLANGE
| DESCRIPTION | NOMBRE D’UNITÉS | LOYER MOYEN/MOIS | pi² |
|---|---|---|---|
| 1+1 | 5 | 1 458 $ CAD | 750 |
| 2+1 | 18 | 1 701 $ CAD | 910 - 1 000 |
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Impôts fonciers
| Numéro de lot | 35-028-24-41-0002 | Évaluation totale | 4 024 098 $ CAD (2024) |
| Évaluation du terrain | 382 983 $ CAD (2024) | Impôts annuels | 65 382 $ CAD (2,99 $ CAD/pi²) |
| Évaluation des bâtiments | 3 641 115 $ CAD (2024) | Année d’imposition | 2026 Payable 2026 |
Impôts fonciers
Numéro de lot
35-028-24-41-0002
Évaluation du terrain
382 983 $ CAD (2024)
Évaluation des bâtiments
3 641 115 $ CAD (2024)
Évaluation totale
4 024 098 $ CAD (2024)
Impôts annuels
65 382 $ CAD (2,99 $ CAD/pi²)
Année d’imposition
2026 Payable 2026
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