Ventura Flats

Michel Commercial is pleased to present the Ventura Flats, a 74- unit, market-rate apartment complex situated in Minneapolis’s Ventura Village neighborhood. Built in 1967, this property features 18 studios and 56 one-bedroom units, with a history of strong occupancy. The Ventura Flats also has on-site laundry facilities as well as surface parking. Ventura Village, nestled in the heart of Minneapolis, is a vibrant neighborhood known for its cultural richness and community spirit. Its central location provides easy access to downtown amenities, public transportation, and a plethora of cultural and recreational opportunities. Residents benefit from active community organizations and initiatives aimed at fostering a sense of belonging and improving the overall quality of life. With its rich tapestry of cultures, bustling streets, and welcoming atmosphere, Ventura Village embodies the dynamic spirit of Minneapolis living. The Ventura Flats offers a compelling investment opportunity, boasting attractive, assumable debt at 4.58% until 2028. With a mission-driven approach, the long-term owners have intentionally maintained exceptionally low rents to ensure naturally occurring affordable housing for residents. We anticipate that the next owners can capitalize on significant rent increases simply by adjusting them to market rates and/or by permitting Section 8 vouchers. Additionally, leveraging the 4D tax program can substantially reduce the property’s tax liability. Situated conveniently with easy access to highways and urban amenities, the Ventura Flats stands as an attractive investment prospect.

Minneapolis is the largest city in Minnesota and forms one-half of the Twin Cities metropolitan area. It is situated in the southeastern part of Minnesota, along the banks of the Mississippi River. Here are some key aspect of Minneapolis: Strong Job Market: Minneapolis is home to many Fortune 500 companies and has a robust job market. Major industries include healthcare, finance, technology, and retail, providing residents with various career opportunities. Arts & Entertainment: Minneapolis has a thriving arts and entertainment scene. The city is renowned for its theaters, museums, art galleries, and music venues, making it a haven for art enthusiasts and creatives. Parks & 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. 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. Healthcare: Minneapolis has world-class healthcare facilities, including the renowned Mayo Clinic in nearby Rochester. Residents have access to top-notch medical services and specialists. Public Transportation: The city has an efficient public transportation system, making it easier for residents to navigate the area without relying solely on cars. Minneapolis offers a dynamic blend of urban amenities, natural beauty, cultural attractions, and a strong sense of community, making it an appleaing place to live and visit.