Log In/Sign Up
Your email has been sent.
2631 Columbus Ave 33 Unit Apartment Building $3,900,000 ($118,182/Unit) 6.47% Cap Rate Minneapolis, MN 55407
Investment Highlights
- Fully Stabilized 33-Unit Asset with large one-bedroom units
- Excellent Healthcare Location near Allina Health, Abbott Northwestern, and major medical employment hubs
- Majority of Units Remodeled with updated interior finishes. Large Rear Parking Lot provides additional parking income potential
- RUBS in Place for utility reimbursement and improved cash flow
- 4D Potential offers substantial property tax savings upside. Property located in an Opportunity Zone.
- Brand New Roof installed June 2026. Strong CapEx Profile with major building systems recently improved or in excellent condition
Executive Summary
View property homepage here: https://2631columbusave.sharplaunch.com/
Columbus is a fully stabilized 33-unit apartment community consisting entirely of large one-bedroom units in a Minneapolis healthcare corridor opportunity zone. The property benefits from a RUBS program in place, allowing ownership to recover a portion of utility expenses, as well as a majority of units remodeled and major capital improvements already completed, including a brand new roof installed in June 2026. Additional upside exists through potential 4D tax savings, increased parking income from the large rear lot, and storage income opportunities.
For more info and to schedule a property tour please reach out to Rocco Curella - (651) 398-0291
Columbus is a fully stabilized 33-unit apartment community consisting entirely of large one-bedroom units in a Minneapolis healthcare corridor opportunity zone. The property benefits from a RUBS program in place, allowing ownership to recover a portion of utility expenses, as well as a majority of units remodeled and major capital improvements already completed, including a brand new roof installed in June 2026. Additional upside exists through potential 4D tax savings, increased parking income from the large rear lot, and storage income opportunities.
For more info and to schedule a property tour please reach out to Rocco Curella - (651) 398-0291
Property Facts
| Price | $3,900,000 | Building Class | C |
| Price Per Unit | $118,182 | Lot Size | 0.47 AC |
| Sale Type | Investment | Building Size | 24,678 SF |
| Cap Rate | 6.47% | Average Occupancy | 97% |
| No. Units | 33 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1972/2020 |
| Property Subtype | Apartment | Parking Ratio | 0.97/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | OR2 | ||
| Price | $3,900,000 |
| Price Per Unit | $118,182 |
| Sale Type | Investment |
| Cap Rate | 6.47% |
| No. Units | 33 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.47 AC |
| Building Size | 24,678 SF |
| Average Occupancy | 97% |
| No. Stories | 3 |
| Year Built/Renovated | 1972/2020 |
| Parking Ratio | 0.97/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | OR2 |
Amenities
Unit Amenities
- Dishwasher
- Disposal
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Carpet
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Security System
- Smoke Free
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $882.00 | 550 |
| 1+1 | 27 | $1,125 | 700 - 750 |
| 2+1 | 5 | $1,538 | - |
1 1
Exceptionally walkable
90/100
Fairly drivable
50/100
Strong public transit
80/100
Exceptionally bikeable
90/100
Property Taxes
| Parcel Number | 35-029-24-32-0315 | Improvements Assessment | $2,651,700 |
| Land Assessment | $242,300 | Total Assessment | $2,894,000 |
Property Taxes
Parcel Number
35-029-24-32-0315
Land Assessment
$242,300
Improvements Assessment
$2,651,700
Total Assessment
$2,894,000
Contacts
-
Doug McNicoll -
Rocco Curella -
MaryPat McNicoll -
Jake Mahabadi -
MRG Realty Partners
1 of 10
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
