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The Loon 57 6th Ave S 12 Unit Apartment Building $1,350,000 ($112,500/Unit) 6.84% Cap Rate Hopkins, MN 55343
Investment Highlights
- 12-unit apartment community in the highly desirable Hopkins submarket | Projected Year-1 NOI of $92,383, representing a 6.84% cap rate
- Strong rental demand supported by a high-barrier-to-entry market | Desirable unit mix featuring six 1-bedroom/1-bath units and six 2-bedroom
- Convenient access to Highway 7, Highway 169, Interstate 394, and Downtown Minneapolis
- Prime location just blocks from Downtown Hopkins Mainstreet | Individually controlled HVAC systems for each unit, reducing maintenance
- Walkable to restaurants, breweries, shopping, parks, and entertainment | Thirteen on-site parking spaces, complemented by ample city-owned parking
- Value-add opportunity through minor cosmetic unit renovations and continued rental growth
Executive Summary
The Loon is a 12-unit apartment community ideally located in the heart of Hopkins, one of the Twin Cities' most desirable first-ring suburbs. Positioned just steps from the vibrant Downtown Hopkins Mainstreet district, the property offers residents convenient access to an array of restaurants, breweries, coffee shops, retail, parks, and entertainment. Its central location also provides quick access to Highway 7, Highway 169, Interstate 394, and several of the region's largest employment hubs.
The property presents investors with the opportunity to acquire a well-located multifamily asset in a market supported by strong renter demand, excellent neighborhood amenities, and long-term growth fundamentals. Whether an investor is seeking stable cash flow, future rent growth, or a long-term hold in a proven submarket, The Loon offers an attractive combination of location, accessibility, and investment potential.
The property presents investors with the opportunity to acquire a well-located multifamily asset in a market supported by strong renter demand, excellent neighborhood amenities, and long-term growth fundamentals. Whether an investor is seeking stable cash flow, future rent growth, or a long-term hold in a proven submarket, The Loon offers an attractive combination of location, accessibility, and investment potential.
Property Facts
| Price | $1,350,000 | Apartment Style | Low-Rise |
| Price Per Unit | $112,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Cap Rate | 6.84% | Building Size | 21,000 SF |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 1.82/1,000 SF |
| Price | $1,350,000 |
| Price Per Unit | $112,500 |
| Sale Type | Investment |
| Cap Rate | 6.84% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 21,000 SF |
| No. Stories | 3 |
| Year Built | 1961 |
| Parking Ratio | 1.82/1,000 SF |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 750 |
| 2+1 | 6 | - | 920 |
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Fairly walkable
40/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 24-117-22-43-0019 | Improvements Assessment | $1,044,000 |
| Land Assessment | $156,000 | Total Assessment | $1,200,000 |
Property Taxes
Parcel Number
24-117-22-43-0019
Land Assessment
$156,000
Improvements Assessment
$1,044,000
Total Assessment
$1,200,000
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