The Galleria House 4001 Mavelle Dr 12 Unit Apartment Building $2,750,000 ($229,167/Unit) 5.09% Cap Rate Edina, MN 55435

Tree-lined, classic 12-unit apartment building ideally tucked behind the Room & Board high-end furniture store and directly across from the renowned upscale Galleria Mall. The property features 11 spacious two-bedroom, one-bath units and one studio, all offering well-designed, open, and functional floor plans. The property also includes 12 separate garages for all units and unassigned 12 surface parking spaces.
Residents enjoy walking-distance access to numerous restaurants, shops, banks, Lunds & Byerlys, Whole Foods, Southdale Center, Cub Foods, and Target. Located just 10 minutes from downtown Minneapolis and the University of Minnesota, the property is also situated within the highly sought-after Edina School District.
This property offers a quiet residential sanctuary in the heart of Edina, combining privacy with unmatched convenience. Each unit includes a private one-car detached garage plus one additional off-street parking space.
Additional features include:
Baseboard hot water radiant heat for consistent comfort
Tenants pay electric
Coin-operated laundry on site
Located in Edina—one of the most affluent close-in suburbs of Minneapolis—the property presents enormous future redevelopment potential, situated just half a block from the France Avenue commercial district, which includes hospitals, physician offices, and high-end shopping destinations. The property is zoned PRD-4, allowing for flexible higher-density multifamily development with commercial elements (buyer to verify with the City of Edina).
1031 Exchange property.