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Cushman & Wakefield is pleased to present for sale, 44 NIC Apartments (the “Property”), a 29-unit fully renovated multifamily 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. 44 NIC Apartments’ prime location gives residents easy access to everything. The Property is located minutes from Downtown, Uptown, Lake Harriet, Lake Bde Maka Ska, Midtown, and Lake Nokomis. Located in the thriving Kingfield neighborhood, the property is steps from locally acclaimed restaurants including Victor’s 1959 Café, Boludo, the Lowbrow, Patisserie 46, Revival, Tap Society, and the Kingfield Farmers Market.

All 29 units have been fully renovated between 2020-2022 and include new cabinets, granite countertops, backsplash, stainless steel appliances, LVT flooring, bathroom vanity, toilets, bathtubs, new paint, ceiling fans, and light fixtures. The Property features a unit-mix that is predominantly three-bedrooms with large open floorplans, currently boasts 97% occupancy, and provides a lucrative opportunity for the next investor by slightly raising rents to market, implementing utility reimbursements (RUBS) and billing back the tenants for utilities, and begin charging for off-street parking, significantly adding additional annual income.

44 NIC Apartments is 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 the week of June 5th. Please contact Robert Dulin or Erin Salway directly to set up a tour, which will be scheduled by appointment only.

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44 NIC Apartments
29 Units
4429 Nicollet Ave S
Minneapolis, MN  55419
Type: Conventional
Posted: 5/30/2023
Cushman & Wakefield is pleased to present for sale, Overland Apartments, a 63-unit luxury multifamily development in the Standish neighborhood of Minneapolis.

Recently completed in 2020, the Overland Apartments offers residents access to a best-in-class amenity package including a 24/7 fitness center, rooftop community lounge and deck with panoramic views of the city, heated parking garage, and on-site co-working space. The property also includes 4,200 SF of 1st floor commercial space available for lease.

The property currently sits at 98% occupied and provides investors the opportunity to assume the current loan with attractive terms.

Located in one of Minneapolis’ most vibrant areas, Overland offers residents a high quality of life with many long-term residents, established bakeries, coffee shops and neighborhood restaurants with close proximity to Target Field, Target Center, U.S. Bank Stadium, the Theater District, and the Central Business District.

Overland Apartments are a rare opportunity to acquire a newly constructed, best-in-class multifamily asset in a desirable community with attractive assumable debt.

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Overland Apartments
63 Units
3806 24th Avenue S
Minneapolis, MN  55406
Type: Conventional
Posted: 3/1/2023
Cushman & Wakefield is pleased to present for sale, Park 708 Apartments, a 12-unit Multifamily asset in the eclectic and diverse neighborhood of Cedar-Riverside in Minneapolis.

Tucked between downtown and the Mississippi River, the Cedar-Riverside neighborhood is a highly walkable area that boasts a vibrant artist community, dozens of live performances and musical venues, as well as many restaurants, cafés, and bars. The neighborhood is part of the University community and is dominated by the West Bank campus of the University of Minnesota's Minneapolis campus in addition to the M Health Masonic Children's Hospital and the entire M Health Fairview University of Minnesota Medical Center - West Bank system. The property is also near Augsburg College with easy access to I-94 and I-35W.

The property currently boasts 100% occupancy and provides a lucrative value-add opportunity for the next investor by completing in-unit renovations and raising rents 15-20% to be more in line with comparable properties in the desirable South Minneapolis area for well below replacement costs.

Park 708 is available on an “as-is” basis and 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”.

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Under Contract
Park 708
12 Units
708 27th Avenue S
Minneapolis, MN  55454
Type: Conventional