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Cedars Portfolio 2 Multifamily Properties in Bloomington, MN
INVESTMENT HIGHLIGHTS
- Situated near the interchange of I-494, Highway 77, and key transit route, which enables tenants great access to the broader Twin Cities metro.
- Proximity to major employment centers including the Minneapolis–Saint Paul International Airport, Mall of America, HealthPartners, Toro, Best Buy, and
EXECUTIVE SUMMARY
Michel Commercial is pleased to present the Cedars Portfolio, a 54-home community in Bloomington, Minnesota in Hennepin County. Positioned along Old Cedar Avenue S, the portfolio provides investors the opportunity to acquire a well-located asset in one of the Twin Cities’ most desirable suburban submarkets. With strong renter demand, proximity to major employment hubs, and clear potential for interior value-add enhancements, the Cedar Portfolio offers an attractive foundation for both operational stability and long-term income growth.
Strong Connectivity and Employment Base
Situated near the interchange of I-494, Highway 77, and key transit routes, the Cedar Portfolio offers exceptional access to the broader Twin Cities metro. Residents benefit from proximity to major employment centers including the Minneapolis–Saint Paul International Airport, Mall of America, HealthPartners, Toro, Best Buy, and numerous hospitality and service-sector employers. This strategic location supports consistent renter demand and reinforces the long-term stability of the portfolio.
Ration Utility Billing System (RUBS)
The property’s existing partial RUBS program provides a meaningful opportunity for expense recovery, allowing ownership to significantly reduce its net utility burden. By allocating a large portion of gas, water/sewer, and trash costs back to residents, the portfolio benefits from stronger cash flow and improved year-over-year NOI stability.
Investment Upside
The properties’ stable neighborhood setting and proximity to everyday conveniences support high tenant retention, reducing turnover costs and contributing to steadier year-over-year financial performance.
Strong Connectivity and Employment Base
Situated near the interchange of I-494, Highway 77, and key transit routes, the Cedar Portfolio offers exceptional access to the broader Twin Cities metro. Residents benefit from proximity to major employment centers including the Minneapolis–Saint Paul International Airport, Mall of America, HealthPartners, Toro, Best Buy, and numerous hospitality and service-sector employers. This strategic location supports consistent renter demand and reinforces the long-term stability of the portfolio.
Ration Utility Billing System (RUBS)
The property’s existing partial RUBS program provides a meaningful opportunity for expense recovery, allowing ownership to significantly reduce its net utility burden. By allocating a large portion of gas, water/sewer, and trash costs back to residents, the portfolio benefits from stronger cash flow and improved year-over-year NOI stability.
Investment Upside
The properties’ stable neighborhood setting and proximity to everyday conveniences support high tenant retention, reducing turnover costs and contributing to steadier year-over-year financial performance.
PROPERTY FACTS
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Under Contract | Total Building Size | 88,416 SF |
| Number of Properties | 2 | Total Land Area | 5.36 AC |
| Sale Type | Investment |
| Status | Under Contract |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 88,416 SF |
| Total Land Area | 5.36 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Cedar Manor Apartments
8901-8915 Old Cedar Ave S, Bloomington, MN 55425 |
Multifamily | 56,932 SF | 1965 | - |
|
Cedar Crest
8949 Old Cedar Ave S, Bloomington, MN 55425 |
Multifamily | 31,484 SF | 1968 | - |
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CONTACTS
-
Peter Michel -
Phil Reesnes -
Heidi Addo -
Jesse Thurston -
Ukee Dozier -
Michel Commercial Real Estate
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