Cushman & Wakefield is pleased to present for sale, 2007 Aldrich Ave S Apartments (the “Property”), a 12-unit vintage multifamily asset in the heart of the lively Lowry Hill Neighborhood of Minneapolis.
A vintage building from 1900, all units at 2007 Aldrich Ave S have been thoughtfully renovated between the years 2016 and 2022. The large two-bedroom units average 1,000 square feet and consist of new countertops, new cabinets, stainless steel appliances, and new backsplashes in the kitchens, new tile, vanities, and toilets in the bathrooms, as well as new refinished (original) hardwood flooring throughout.
Located in the heart of the Lowry Hill East neighborhood of Minneapolis, 2007 Aldrich Ave S Apartments offer direct access to the Hennepin/Franklin corridor, and an eclectic mix of boutique shops, trendy eateries and bars, art galleries, and recreational assets including Lakes Bde Maka Ska and Isles.
The property currently boasts 100% occupancy and provides a lucrative opportunity for the next investor to implement utility reimbursements (RUBS) and bill back the tenants for utilities, adding additional annual income in the desirable South Minneapolis area for well below replacement costs.
OFFERING DETAILS
2007 Aldrich Ave S Apartments are offered free and clear of existing financing and is available on an “as-is” basis.
The property is being offered without a formal asking price.
Upon receipt of a signed Confidentiality Agreement, investors will be provided with access to due diligence materials via The Multifamily System website. Once investors have had an opportunity to review the offering materials and tour the property, Cushman & Wakefield will schedule a “Call for Offers”.
Tours will begin August 28th. Please contact Robert Dulin or Erin Salway directly to set up a tour, which will be scheduled by appointment only.
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