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22 Unit Multifamily | Minneapolis | Value Add 2110 S Park Ave 22 Unit Apartment Building $2,380,000 ($108,182/Unit) 8.89% Cap Rate Minneapolis, MN 55404
INVESTMENT HIGHLIGHTS
- New roof completed in 2025 and updated common areas
- In-place rents are below affordable benchmarks, supporting measured rent growth through unit improvements.
- Poured concrete foundation and brick exterior provide long-term structural stability and lower maintenance risk.
- Approved for the Minneapolis 4d program, offering a projected 40–60% reduction in property taxes, materially improving cash flow.
- Minutes from downtown, transit corridors, employment centers, and neighborhood amenities supporting consistent leasing velocity.
EXECUTIVE SUMMARY
2110 Park Avenue presents an opportunity to acquire a 22-unit multifamily apartment building in South Minneapolis, offering durable construction, recent capital improvements, and a rent profile positioned to serve the city’s strong demand for affordable housing.
The property consists of 17 one-bedroom units and 5 studios, providing an efficient unit mix well-suited for long-term rental stability. Many units and common areas have been updated, and a new roof installed in 2025 reduces near-term capital exposure for incoming ownership.
Located minutes from downtown Minneapolis and major transit corridors, the asset benefits from strong renter demand driven by employment access, transit connectivity, and proximity to neighborhood services. With in-place rents averaging approximately $1,050 per unit, the property offers clear value-add potential through continued interior upgrades, operational efficiencies, and market rent optimization.
2110 Park Avenue represents a compelling opportunity for investors seeking a stable, affordable multifamily asset with upside in one of Minneapolis’s most established rental submarkets.
The property consists of 17 one-bedroom units and 5 studios, providing an efficient unit mix well-suited for long-term rental stability. Many units and common areas have been updated, and a new roof installed in 2025 reduces near-term capital exposure for incoming ownership.
Located minutes from downtown Minneapolis and major transit corridors, the asset benefits from strong renter demand driven by employment access, transit connectivity, and proximity to neighborhood services. With in-place rents averaging approximately $1,050 per unit, the property offers clear value-add potential through continued interior upgrades, operational efficiencies, and market rent optimization.
2110 Park Avenue represents a compelling opportunity for investors seeking a stable, affordable multifamily asset with upside in one of Minneapolis’s most established rental submarkets.
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $2,380,000 | Apartment Style | Low-Rise |
| Price Per Unit | $108,182 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.27 AC |
| Cap Rate | 8.89% | Building Size | 15,300 SF |
| Sale Condition | 1031 Exchange | No. Stories | 3 |
| No. Units | 22 | Year Built | 1959 |
| Property Type | Multifamily | Parking Ratio | 0.52/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RM2 | ||
| Price | $2,380,000 |
| Price Per Unit | $108,182 |
| Sale Type | Investment |
| Cap Rate | 8.89% |
| Sale Condition | 1031 Exchange |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 15,300 SF |
| No. Stories | 3 |
| Year Built | 1959 |
| Parking Ratio | 0.52/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM2 |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Office
- Smoke Free
- Vinyl Flooring
- Large Bedrooms
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Private Bathroom
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 5 | $1,004 | 460 |
| 1+1 | 17 | $1,146 | 585 |
1 1
Walk Score®
Very Walkable (81)
Bike Score®
Biker's Paradise (96)
PROPERTY TAXES
| Parcel Number | 35-029-24-22-0011 | Total Assessment | $1,752,000 (2024) |
| Land Assessment | $155,000 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,597,000 (2024) | Tax Year | 2026 Payable 2026 |
PROPERTY TAXES
Parcel Number
35-029-24-22-0011
Land Assessment
$155,000 (2024)
Improvements Assessment
$1,597,000 (2024)
Total Assessment
$1,752,000 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026 Payable 2026
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VY Management
22 Unit Multifamily | Minneapolis | Value Add | 2110 S Park Ave
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