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Green Avenue Portfolio

2204 Green Ave Anoka / Minnesota

Property Details

Price:

Property Type Multifamily

Total Lot Size: .83 Acres

Year Built: 1968

Number of Units: 23

County: Anoka

Description

Michel Commercial is proud to present Green Avenue apartment homes, a 23-unit apartment community spanning two adjacent buildings in the heart of Anoka. Built in 1968, the property features a mix of one- and two-bedroom units and has maintained a strong track record of stable occupancy. The Green Avenue apartments is well-maintained with strong occupancy, steady income, and immediate upside. Current rents are below market, presenting a natural opportunity for increases. Additionally, the property is well positioned for a value-add strategy through interior upgrades, following the success of similar renovations in the area. Green Avenue offers both investment stability and growth potential.

Location

Located in the desirable suburb of Anoka, the property offers convenient access to parks, shopping, and major roadways. Just minutes from John Sorenson, Rick Ward, and Peninsula Point Parks, the property is also less than a mile from downtown Anoka’s shops, restaurants, and Green Haven Golf Course. A major retail corridor is within a ten-minute drive, and quick access to Highway 10 provides seamless connectivity across the Twin Cities metro.

Highlights

Value-Add Opportunity
Offering an opportunity for substantial rental growth potential through interior upgrades with the opportunity to take advantage of an estimated $207/unit average monthly premium on rents, capturing a 20.75% ROI.

Proven Demand for Renovated Units
The Anoka submarket has recently experienced multiple properties undergo extensive renovations. These renovated units were quickly absorbed by the market and have increased the average rents in the area.

Excellent Connectivity Throughout the Metro
Proximity to Highway 10, the area offers seamless access to surrounding cities and the Twin Cities metro. Its prime location connects residents to a range of amenities and job opportunities, making it an ideal place to live, work, and enjoy life.

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Green Avenue Portfolio