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808 13th Ave Se 808 13th Ave SE 6 Unit Apartment Building $1,025,000 ($170,833/Unit) 7.94% Cap Rate Minneapolis, MN 55414
INVESTMENT HIGHLIGHTS
- Roof structure was upgraded from flat to gable in 2006, featuring 50-year architectural shingles for enhanced durability and long-term capital preserv
- Washer and dryer installed in 2024, offering modern amenities for convenience.
- Located approximately one mile from the University of Minnesota campus, supporting consistent rental demand.
- Boiler system replaced in 2015, improving heating efficiency and reducing maintenance exposure.
- All units converted to open-concept kitchen layouts with updated maple cabinetry, completed over the past seven years to enhance interior appeal and t
- Within walking distance of numerous restaurants and grocery stores, contributing to strong tenant lifestyle appeal.
EXECUTIVE SUMMARY
Broker of Record
Kurt Sauer
License # 40841922 (MN)
Matthews Real Estate Investment Services, Inc
701 Xenia Ave S, Ste 485 Minneapolis MN 55416
(866) 889-0550
Kurt Sauer
License # 40841922 (MN)
Matthews Real Estate Investment Services, Inc
701 Xenia Ave S, Ste 485 Minneapolis MN 55416
(866) 889-0550
PROPERTY FACTS Under Contract
| Price | $1,025,000 | Apartment Style | Low-Rise |
| Price Per Unit | $170,833 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 7.94% | Building Size | 5,218 SF |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1968/2024 |
| Property Subtype | Apartment | Parking Ratio | 1.15/1,000 SF |
| Zoning | R5 | ||
| Price | $1,025,000 |
| Price Per Unit | $170,833 |
| Sale Type | Investment |
| Cap Rate | 7.94% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 5,218 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1968/2024 |
| Parking Ratio | 1.15/1,000 SF |
| Zoning | R5 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1 | 6 | - | 1,250 |
1 1
Walk Score®
Very Walkable (86)
Bike Score®
Biker's Paradise (100)
PROPERTY TAXES
| Parcel Number | 24-029-24-13-0060 | Improvements Assessment | $543,600 |
| Land Assessment | $116,400 | Total Assessment | $660,000 |
PROPERTY TAXES
Parcel Number
24-029-24-13-0060
Land Assessment
$116,400
Improvements Assessment
$543,600
Total Assessment
$660,000
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808 13th Ave Se | 808 13th Ave SE
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