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2528 17th Ave S 10 Unit Apartment Building $875,000 ($87,500/Unit) 8.94% Cap Rate Minneapolis, MN 55404
Executive Summary
Excellent opportunity to acquire a fully occupied 10-unit apartment building with strong in-place cash flow. This well-maintained property features updated units, a newer roof, updated exterior wood components, replacement shakes, and newer windows, helping reduce future capital expenditures. Generating approximately $117,000 in annual gross rental income, this stabilized asset offers immediate income with additional upside through long-term ownership. All units are occupied, providing consistent cash flow from day one. Ideal for investors looking to expand their portfolio or complete a 1031 exchange.
Property Facts
| Price | $875,000 | Building Class | C |
| Price Per Unit | $87,500 | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 4,344 SF |
| Cap Rate | 8.94% | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1963/2025 |
| Property Subtype | Apartment | Parking Ratio | 2.3/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R2B - Multiple Family District | ||
| Price | $875,000 |
| Price Per Unit | $87,500 |
| Sale Type | Investment |
| Cap Rate | 8.94% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 4,344 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1963/2025 |
| Parking Ratio | 2.3/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R2B - Multiple Family District |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 9 | $950.00 | - |
| 2+1 | 1 | $1,300 | - |
1 1
Exceptionally walkable
90/100
Moderately drivable
60/100
Good public transit
70/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 35-029-24-14-0115 | Improvements Assessment | $517,700 |
| Land Assessment | $96,300 | Total Assessment | $614,000 |
Property Taxes
Parcel Number
35-029-24-14-0115
Land Assessment
$96,300
Improvements Assessment
$517,700
Total Assessment
$614,000
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Compass Minnesota
2528 17th Ave S
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