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Stinson Apartments

Stinson Apartments

3826 Stinson Blvd NE,  /

Property Details

Price:
Property Type Multifamily
Total Lot Size: 0.65 Acres
Year Built: 1964
Number of Units: 17
Garages: 12
County: Anoka

Description

Michel Commercial is pleased to present the Stinson Apartments, a 17-unit apartment building in Columbia Heights, Minnesota. The Stinson Apartments is comprised of one- and two-bedroom apartments with on-site laundry as well as garages (12) and off-street parking. The Stinson Apartments is located in Columbia Heights, a first-ring suburb. The property is within walking distance of Prestemon Park, Silver Lake Beach, Cub Foods, and a major commercial hub, including Target and Menards. Stinson is 1.7 miles from central Columba Heights, including the iconic Heights Theater and the CH Metro Transit Center, and 6 miles from central Minneapolis. Residents enjoy easy access to Interstates 35W and 94 and Minnesota State Highways 47 and 65. The Stinson Apartments is an ideal value-add investment opportunity, with solid in-place income and substantial rental growth potential through interior upgrades. The property is well maintained and conveniently located in a submarket showing strong rent growth. With its comfortable apartments, proximity to urban amenities, and easy access to freeways, the Stinson Apartments presents an appealing investment opportunity and provides residents with a place they can proudly call “home.”

Location

Columbia Heights is a charming suburb located north of Minneapolis in Anoka County. Columbia Heights offers an ideal blend of urban convenience and subruban tranquility. Here are more highlights about the city of Columbia Heights: Proximity to Minneapolis: Columbia Heights is conveniently located close to Minneapolis, providing easy access to the city’s amenities, cultural attractions, entertainment venues, and employment opportunities. Suburban Charm: The city offers a suburban environment with a mix of residential areas, parks, and green spaces, providing a more relaxed and family-friendly atmosphere compared to urban centers. Diverse Community: Columbia Heights is known for its diverse population, creating a rich and multicultural community with various traditions, events, and festivals. Educational Opportunities: The suburb is served by Columbia Heights Public Schools, which strive to provide quality education for students in the area. Parks and Recreation: The city offers several parks and recreational facilities, providing opportunities for outdoor activities, sports, and leisure. Access to Public Transportation: The city is served by public transportation options, making it easier to commute to neighboring areas or downtown Minneapolis without relying solely on personal vehicles. Overall, Columbia Heights, MN, offers a blend of suburban living, cultural diversity, and easy access to urban amenities, making it an appealing choice for individuals and families looking for a well-rounded community to call home.

Highlights

Value-Add Opportunity
Offering an opportunity for substantial rental growth potential through interior upgrades with the opportunity to take advantage of an
estimated $195/unit average monthly premium on rents, capturing a 19.6% ROI.

Excellent Connectivity Throughout the Metro
Columbia Heights benefits from its proximity to major highways and interstates, including I-94, I-35W, Highway 65, and Highway
47.Its location provides residents with convenient access to urban amenities and employment opportunities making it a highly
desirable place to live, work, and play.

Supply-Constrained Submarket
Looking ahead, significant rent growth is anticipated, in the area, due to the limited supply of new housing. With fewer housing options available, competition among renters will likely increase, leading to steady rental growth.

Thriving Community Atmosphere
Columbia Heights boasts numerous parks, trails, and recreational facilities, enhancing the quality of life for residents.

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