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60 Unit Lagoon & Humboldt Portfolio 3 Multifamily Properties in Minneapolis, MN
Investment Highlights
- Rare 60 Unit (3 Building) Brownstone Multifamily Portfolio
- Corner of Lagoon & Humboldt, across from Lunds & Byerly’s, near The Lakes, and next to the Midtown Greenway Trail
- Desirable Uptown/Lagoon Ave location with excellent access to nearby restaurants, retail, entertainment, parks, & transit
- Located on a 0.49-acre site totaling approximately 21,344 sf
- 95% Occupancy - Desirable unit mix: (18) studios, (41) 1 bedrooms, (1) 2 bedroom.
- Contact Listing Brokers, Hayden Hulsey, CCIM & Mark Hulsey, for more information, financials, and scheduling tours.
Executive Summary
• Rare 60 Unit (3 Building) Brownstone Multifamily Portfolio
• Located on a 0.49-acre site totaling approximately 21,344 sf
• Corner of Lagoon & Humboldt, across from Lunds & Byerly’s, near The Lakes, and next to the Midtown Greenway Trail
• Longtime family-owned asset
• 95% Occupancy - Desirable unit mix: (18) studios, (41) 1 bedrooms, (1) 2 bedroom.
• 3 Parcels: 2870 (33-029-24-34-0014), 2882 (33-029-24-34-0016), land parcel between the buildings (33-029-24-34-0015)
• Stabilized property with true value-add upside through rent growth, unit/common area improvements and management/operational efficiencies
• Perfect 1031 Tax Exchange and Investment
• Opportunity to acquire three adjacent multifamily buildings in a single transaction (management efficiency)
• Desirable Uptown/Lagoon Ave location with excellent access to nearby restaurants, retail, entertainment, parks, & transit
• Flexible zoning with 2870 Humboldt Avenue South zoned UN3 and 2876/2882 Humboldt Avenue South zoned RM1, allowing for continued multifamily use in an urban residential setting.
• Contact Listing Brokers, Hayden Hulsey, CCIM & Mark Hulsey, for more information, financials, and scheduling tours.
• Located on a 0.49-acre site totaling approximately 21,344 sf
• Corner of Lagoon & Humboldt, across from Lunds & Byerly’s, near The Lakes, and next to the Midtown Greenway Trail
• Longtime family-owned asset
• 95% Occupancy - Desirable unit mix: (18) studios, (41) 1 bedrooms, (1) 2 bedroom.
• 3 Parcels: 2870 (33-029-24-34-0014), 2882 (33-029-24-34-0016), land parcel between the buildings (33-029-24-34-0015)
• Stabilized property with true value-add upside through rent growth, unit/common area improvements and management/operational efficiencies
• Perfect 1031 Tax Exchange and Investment
• Opportunity to acquire three adjacent multifamily buildings in a single transaction (management efficiency)
• Desirable Uptown/Lagoon Ave location with excellent access to nearby restaurants, retail, entertainment, parks, & transit
• Flexible zoning with 2870 Humboldt Avenue South zoned UN3 and 2876/2882 Humboldt Avenue South zoned RM1, allowing for continued multifamily use in an urban residential setting.
• Contact Listing Brokers, Hayden Hulsey, CCIM & Mark Hulsey, for more information, financials, and scheduling tours.
Property Facts
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 94,972 SF |
| Number of Properties | 3 | Total Land Area | 0.82 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 94,972 SF |
| Total Land Area | 0.82 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 2876 Humboldt Ave S, Minneapolis, MN 55408 | Multifamily | 38,736 SF | 1919 | - |
| 2882 Humboldt Ave S, Minneapolis, MN 55408 | Multifamily | 38,736 SF | 1916 | - |
| 2870 Humboldt Ave S, Minneapolis, MN 55408 | Multifamily | 17,500 SF | 1915 | - |
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60 Unit Lagoon & Humboldt Portfolio
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