Multifamily Apartment
For Sale
Contact for pricing
160 Homestead Road, Mankato, MN 56001
72-unit multifamily property with strong occupancy and convenient access via major highways near Minnesota State University, Mankato.
Property Size81,900 SF
Days on Market63
Property Features for 160 Homestead Road
General Information
Standard status
Active
Size
81,900 SF
Property subtype
Multifamily
Occupancy
99%
Investment Type
Value Add
Additional Details
Highway Access
Yes
Multifamily Units
72
Building Details
Year Built
1993
Units
72
Tenancy
Single
Listing Agency:
NAI North Star
(507) 380-7340
Listed By:
Daniel Sprague · License #MN 40809388
Source:
Crexi
Added: Jun 11
Changed: Aug 8
Last Checked: Aug 11 at 4:45PM
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 NAI North Star
Investment Insights
Based on property information with market context.
Gray Hawk Apartments is a 72-unit multifamily community presented for sale as a well-maintained, income-producing asset. The property offers an established unit mix and is described as operating at high occupancy, with demonstrated occupancy near 99%. The seller notes that current rents are below market in select unit types, which may support future revenue improvement through rent adjustments and continued operational efficiencies.
The community is located along Homestead Road in Mankato, MN, in a quiet residential setting with access to everyday amenities such as shopping, dining, and parks. The property is minutes from Highway 14 and Highway 169, supporting regional connectivity. Minnesota State University, Mankato is described as a short drive away and is identified as a major driver of rental demand in the area.
For investors seeking a stabilized multifamily holding, Gray Hawk Apartments combines consistent in-place occupancy with a noted opportunity to address rent levels in select units. Its location and accessibility to employment and transportation corridors may appeal to tenants looking for convenience while remaining within a residential neighborhood context. The property is positioned as an asset suitable for private and institutional investors seeking scale in Southern Minnesota.
The community is located along Homestead Road in Mankato, MN, in a quiet residential setting with access to everyday amenities such as shopping, dining, and parks. The property is minutes from Highway 14 and Highway 169, supporting regional connectivity. Minnesota State University, Mankato is described as a short drive away and is identified as a major driver of rental demand in the area.
For investors seeking a stabilized multifamily holding, Gray Hawk Apartments combines consistent in-place occupancy with a noted opportunity to address rent levels in select units. Its location and accessibility to employment and transportation corridors may appeal to tenants looking for convenience while remaining within a residential neighborhood context. The property is positioned as an asset suitable for private and institutional investors seeking scale in Southern Minnesota.
Key Highlights
- Gray Hawk Apartments is a 72‑unit multifamily community built in 1993
- High in‑place occupancy reported at nearly 99%
- Located along Homestead Road in Mankato with quick access to Highways 14 and 169
Property Analytics
Property Profile
Current Use
Lease Details
72
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
321
Businesses Nearby
Explore this area
Business Placement
Demographics for 56001, MN
50,729
Population
21,583
Households
2.4
Avg Household Size
30
Median Age
37%
College-Educated
94%
High-School Grad
114.5 sq mi
ZIP Area
443
Density / Sq Mi
$67,224
Median Household Income
$29,122
Median Earnings
$1,088
Median Rent
$263,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - 72-unit multifamily property with strong occupancy and convenient access via major highways near Minnesota State University, Mankato.
Where is this apartment building located?
The property is located at 160 Homestead Road Mankato, MN.
What are key features of this property?
This property features: Gray Hawk Apartments is a 72‑unit multifamily community built in 1993; High in‑place occupancy reported at nearly 99%; Located along Homestead Road in Mankato with quick access to Highways 14 and 169
