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2540 Fairoak Ave
Anoka, MN 55303
Multifamily Property For Sale
·
24 Units
Investment Highlights
- First Time on the Market; Being Sold By Original Developer’s Family
- True Value-Add Opportunity; Over 20% Rental Upside
- Constructed in the 1980’s with an Average Unit Size of 978 Square Feet Across the Three Unit Types
- Well Maintained; Numerous Capital Improvements
- Growing Northern Suburban Location; 30 Minutes to Downtown Minneapolis
- Monthly Income to Increase $765/Month Effective December 1st, 2024
Property Facts
| No. Units | 24 | Lot Size | 1.30 AC |
| Property Type | Multifamily | Building Size | 23,946 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1979 |
| Building Class | C | Parking Ratio | 1.34/1,000 SF |
| Zoning | R-2 - Multi-Family Residential | ||
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.30 AC |
| Building Size | 23,946 SF |
| No. Stories | 2 |
| Year Built | 1979 |
| Parking Ratio | 1.34/1,000 SF |
| Zoning | R-2 - Multi-Family Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | $888.00 | 752 |
| 2+1 | 15 | $1,058 | 1,081 |
| 3+1 | 1 | $1,400 | 1,250 |
Property Taxes
| Parcel Number | 01-31-25-23-0015 | Improvements Assessment | $2,026,400 |
| Land Assessment | $321,100 | Total Assessment | $2,347,500 |
Property Taxes
Parcel Number
01-31-25-23-0015
Land Assessment
$321,100
Improvements Assessment
$2,026,400
Total Assessment
$2,347,500
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