23-Unit Apartment
For Sale
$2,650,000
7444 Cedar Ave S, Richfield, MN 55423
Brick multifamily property with garage parking and a mix of one- and two-bedroom residences.
Property Size21,840 SF
Lot Size0.88 Acres
Price / SF$121.34
Days on Market59
Property Features for 7444 Cedar Ave S
General Information
Standard status
Active
Size
21,840 SF
Total Parking Spaces
10
Lot size
0.88 Acres
Zoning
Multiple-family District
Occupancy
100%
Units
Unit Mix
18 x 2BR/1BA, 5 x 1BR/1BA
Multifamily Units
23
Additional Details
Asking Price
$2,875,000
Public Transit
Yes
Building Details
Year Built
1966
Buildings
1
Construction
brick
Listing Agency:
Apartment Cash Flow, Inc.
Listed By:
Nathan P. Opatz · License ##40329256
(651) 263-3653
Source:
Tayloronken
Added: Aug 8
Changed: Oct 2
Last Checked: Oct 4 at 1:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Apartment Cash Flow, Inc.
Investment Insights
Based on property information with market context.
This 23-unit apartment property in Richfield, Minnesota, contains 21,840 square feet on 0.88 acres. The unit mix includes 18 two-bedroom, one-bath residences of approximately 910+ square feet and 5 one-bedroom, one-bath residences of approximately 750+ square feet. Built in 1966, the building has a brick exterior, boiler heat, flat roofing, and updated unit appliances. Parking includes 10 detached garage stalls along with additional off-street spaces.
Recent capital work includes replacement electrical panels and circuit breakers in 2025, a commercial high-efficiency water heater installed in 2023, hallway and common-area carpeting added in 2018, and vinyl replacement windows installed in 2013. The roof on both the apartment building and garages was replaced in 2014. The property is on a bus route and near the Mall of America, with access to major transportation routes. It is zoned Multiple-family District and is fully occupied.
Recent capital work includes replacement electrical panels and circuit breakers in 2025, a commercial high-efficiency water heater installed in 2023, hallway and common-area carpeting added in 2018, and vinyl replacement windows installed in 2013. The roof on both the apartment building and garages was replaced in 2014. The property is on a bus route and near the Mall of America, with access to major transportation routes. It is zoned Multiple-family District and is fully occupied.
Key Highlights
- 23 units totaling 21,840 square feet on 0.88 acres
- Unit mix includes 18 two‑bedroom and 5 one‑bedroom residences
- 10 detached garage stalls plus additional off‑street parking
Property Analytics
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Current Use
Lease Details
23
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
624
Businesses Nearby
Explore this area
Business Placement
Demographics for 55423, MN
37,137
Population
16,792
Households
2.2
Avg Household Size
37
Median Age
44%
College-Educated
91%
High-School Grad
7.1 sq mi
ZIP Area
5,231
Density / Sq Mi
$84,102
Median Household Income
$52,890
Median Earnings
$1,334
Median Rent
$320,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Brick multifamily property with garage parking and a mix of one- and two-bedroom residences.
Where is this apartment building located?
The property is located at 7444 Cedar Ave S Richfield, MN.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: 23 units totaling 21,840 square feet on 0.88 acres; Unit mix includes 18 two‑bedroom and 5 one‑bedroom residences; 10 detached garage stalls plus additional off‑street parking
