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Falcon View Apartments 1800 Larpenteur Ave W 36 Unit Apartment Building For Sale Falcon Heights, MN 55113
INVESTMENT HIGHLIGHTS
- Situated in the City of Falcon Heights just a few blocks from the University of Minnesota’s St. Paul campus. This is a non-rent control asset
- With a vast majority of the property consisting of three bedrooms and two bedrooms, average rents are $1,503
- In-Place Cash Flow: Priced at a 7% CAP on actual 2025 financials
- 30 units have been completely renovated with modern finishes. In addition, common areas and landscaping have received a complete refresh
- 26 garages and 38 surface spaces provide additional revenue and convenience, plus room to park in front of each garage for added capacity
EXECUTIVE SUMMARY
Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Falcon View Apartments.
Falcon View Apartments is a 36-unit multifamily community centrally located in the City of Falcon Heights, Minnesota. Originally constructed in 1968, the 36-unit property has been meticulously maintained and significantly modernized with newer windows, a new roof, a new boiler and 30 units completely renovated. The property consist of two adjacent apartment buildings, each containing 18 residences, situated on a combined 1.56-acre site. The unit mix is well diversified, featuring 4 one-bedroom, 15 two-bedroom, and 17 three-bedroom apartments. This mix supports broad renter appeal across households seeking larger layouts within an established inner-metro location. Renovated units feature modern finishes and fixtures in line with current renter preferences, contributing to strong leasing velocity and long-term tenant retention. All residences also feature private porches or patios, providing added outdoor living space for tenants.
The residences average approximately 1,021 square feet and currently achieve average rents of $1,503 per month. Falcon View Apartments offers a strong parking ratio with approximately 38 surface spaces and 26 garage stalls. In addition, tenants can park in front of their garage adding 26 more spots for a total of 90. This is an attractive feature for tenants in this submarket especially during the state fair!
Falcon View Apartments benefits from a coveted Falcon Heights location a few blocks from the University of Minnesota’s St. Paul campus, making it appealing to both students and long term residents seeking access to education, employment, and daily amenities. The property also benefits by being surrounded by well-regarded restaurants, multiple parks, grocery stores, and two large shopping centers all while having a small town feel within the Twin Cities Metro.
With substantial recent renovations, large units, spacious lot and prime location adjacent to the University of Minnesota-St. Paul, Falcon View offers investors immediate cash flow in one of the more sought after rental markets.
Falcon View Apartments is a 36-unit multifamily community centrally located in the City of Falcon Heights, Minnesota. Originally constructed in 1968, the 36-unit property has been meticulously maintained and significantly modernized with newer windows, a new roof, a new boiler and 30 units completely renovated. The property consist of two adjacent apartment buildings, each containing 18 residences, situated on a combined 1.56-acre site. The unit mix is well diversified, featuring 4 one-bedroom, 15 two-bedroom, and 17 three-bedroom apartments. This mix supports broad renter appeal across households seeking larger layouts within an established inner-metro location. Renovated units feature modern finishes and fixtures in line with current renter preferences, contributing to strong leasing velocity and long-term tenant retention. All residences also feature private porches or patios, providing added outdoor living space for tenants.
The residences average approximately 1,021 square feet and currently achieve average rents of $1,503 per month. Falcon View Apartments offers a strong parking ratio with approximately 38 surface spaces and 26 garage stalls. In addition, tenants can park in front of their garage adding 26 more spots for a total of 90. This is an attractive feature for tenants in this submarket especially during the state fair!
Falcon View Apartments benefits from a coveted Falcon Heights location a few blocks from the University of Minnesota’s St. Paul campus, making it appealing to both students and long term residents seeking access to education, employment, and daily amenities. The property also benefits by being surrounded by well-regarded restaurants, multiple parks, grocery stores, and two large shopping centers all while having a small town feel within the Twin Cities Metro.
With substantial recent renovations, large units, spacious lot and prime location adjacent to the University of Minnesota-St. Paul, Falcon View offers investors immediate cash flow in one of the more sought after rental markets.
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 1.56 AC |
| No. Units | 36 | Building Size | 4,050 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1968 |
| Apartment Style | Low-Rise | Parking Ratio | 15.8/1,000 SF |
| Building Class | C | ||
| Zoning | Residential | ||
| Sale Type | Investment |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.56 AC |
| Building Size | 4,050 SF |
| No. Stories | 3 |
| Year Built | 1968 |
| Parking Ratio | 15.8/1,000 SF |
| Zoning | Residential |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Oven
- Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | - | 860 |
| 2+1 | 17 | - | 1,036 |
| 3+1 | 16 | - | 1,036 |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $3,441,200 | |
| Land Assessment | $720,000 | Total Assessment | $4,161,200 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$720,000
Improvements Assessment
$3,441,200
Total Assessment
$4,161,200
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Falcon View Apartments | 1800 Larpenteur Ave W
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