Nicollet Apartments

29 Units
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About

About Nicollet Apartments

Cushman & Wakefield is pleased to present for sale Nicollet Apartments, a 29-unit value-add opportunity in the vibrant neighborhood of Kingfield in Southwest Minneapolis.

The property is located just off I-35W on the bustling street of Nicollet Avenue. Nicollet Apartments’ prime location gives residents easy access to everything. The property is located minutes from Downtown, Uptown, Lake Harriet, Lake Calhoun, Midtown, and Lake Nokomis. Located in the thriving Kingfield neighborhood, the property is steps from locally acclaimed restaurants including Grand Café, Victor’s 1959 Café, Blackbird Café, Patisserie 46, Revival, Tap Society, and the Kingfield Farmers Market.

Nicollet Apartments is a true value-add opportunity with legitimate immediate upside. The unit-mix is predominantly three-bedrooms with large open floor plans and vinyl plank flooring in select units. The average in-place rent is currently 20% below comparable properties in the sub-market, allowing opportunistic investors the ability to capture their desired returns through implementing a “light” in-unit and common area renovation plan.

Nicollet Apartments is offered free and clear of existing financing and tours will begin the week of April 29th. Please contact Robert Dulin directly to set up a tour, which will be scheduled by appointment only.