516 University Ave SE | Minneapolis, MN 55414
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- LoopNet Team
516 University Ave SE
Minneapolis, MN 55414
Multifamily Property For Sale
·
23 Units
Investment Highlights
- First Time Offered in 47 Years – Rare opportunity to acquire a long-held, pride-of-ownership asset.
- 23 Spacious Units – Predominantly two-bedroom floorplans with desirable layouts and abundant natural light.
- Original details such as hardwood floors and French doors preserved alongside refreshed kitchens and renovated bathrooms
- Situated in the sought-after Saint Anthony Main/Marcy-Holmes neighborhood
- Well-Maintained Asset – Significant capital improvements including a new boiler (2015) and a brand-new roof (2025).
- Ample Parking & Outdoor Space – Oversized 0.5-acre lot with 35 surface spaces plus a private backyard patio for residents.
Property Facts
| No. Units | 23 | Lot Size | 0.50 AC |
| Property Type | Multifamily | Building Size | 17,067 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1923 |
| Building Class | C | Parking Ratio | 1.46/1,000 SF |
| Zoning | R5 - R5 | ||
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.50 AC |
| Building Size | 17,067 SF |
| No. Stories | 3 |
| Year Built | 1923 |
| Parking Ratio | 1.46/1,000 SF |
| Zoning | R5 - R5 |
Amenities
Unit Amenities
- Tile Floors
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 300 |
| 1+1 | 8 | - | 425 - 504 |
| 2+1 | 13 | - | 509 |
| 2+2 | 1 | - | 600 |
Property Taxes
| Parcel Number | 23-029-24-41-0014 | Improvements Assessment | $1,612,700 |
| Land Assessment | $762,300 | Total Assessment | $2,375,000 |
Property Taxes
Parcel Number
23-029-24-41-0014
Land Assessment
$762,300
Improvements Assessment
$1,612,700
Total Assessment
$2,375,000
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