Your search results

Minnehaha Portfolio

3146 Minnehaha Ave Minneapolis / Minnesota

Property Details

Price:

Property Type Multifamily

Total Lot Size: .81 Acres

Year Built: 1961

Number of Units: 45

County: Hennepin

Description

Michel Commercial presents the Minnehaha Portfolio, a collection of three distinct properties totaling 45 apartment homes. These properties are available for purchase individually, in pairs, or as a complete portfolio, offering flexibility to investors. With prime locations and strong in-place income, this portfolio offers investors a unique chance to capitalize on the current momentum while positioning each property for sustained NOI growth.

Location

Minneapolis, MN Parks and Recreation: Known as the “City of Lakes,” Minneapolis offers numerous parks, lakes, and outdoor recreational areas. Residents can enjoy activities such as biking, hiking, boating, and picnicking throughout the year. Proximity to Larger Cities: Situated in the Twin Cities metro, Minneapolis offers urban convenience with easy access to St. Paul. With major highways and transit options, commuting, dining, shopping, and entertainment are all within reach. Local Amenities and Business Opportunities: Minneapolis boasts a strong job market, home to numerous Fortune 500 companies and thriving industries like healthcare, finance, technology, and retail, offering diverse career opportunities. Beyond business, the city thrives as a cultural hub, featuring renowned theaters, museums, galleries, and music venues, making it an exciting destination for professionals and creatives alike. Access to High Quality Education: The Twin Cities area, which includes Minneapolis, is home to several excellent educational institutions, including the University of Minnesota. The city provides access to quality education at various levels. Minneapolis offers a dynamic blend of urban amenities, natural beauty, cultural attractions, and a strong sense of community, making it an appealing place to live and visit.

Highlights

Portfolio Overview
Located in the sought-after Longfellow neighborhood of Minneapolis, MN, this portfolio features a mix of studio and one-bedroom apartment homes. Each property includes surface parking and on-site laundry facilities for added convenience. Well managed and well-maintained, these properties have received recent updates and are positioned in a highly desirable location.

Conveniently Located
These properties have excellent transit access near the Metro Blue Line, major highways, and bus routes. Situated along the Minnehaha Ave bike corridor, they offer a walkable and bike-friendly environment with nearby daily conveniences. Just minutes from Minnehaha Regional Park and the Mississippi River Parkway, they provide great outdoor recreation. Surrounded by local favorites and major retailers like Target and Cub Foods, they also offer quick access to downtown Minneapolis, MSP Airport, and the Mall of America.

Investment Potential
These properties present a compelling investment opportunity with strong potential for income growth through gradual rent increases and operational efficiencies. Recently enrolled in the Low-Income Rental Classification (LIRC) tax rate program, also known as 4D, they are now benefiting from a 21.1% reduction in property taxes, directly improving the net operating income (NOI).

Register

Reset Password

Minnehaha Portfolio