Oversized Two-Bedroom Apartment
New
For Sale
$1,700,000
2007 Aldrich Ave S, Minneapolis, MN 55405
Twelve fully occupied apartments feature expansive layouts, updated kitchens, refreshed mechanical systems, and a 2023 roof.
Property Size13,500 SF
Days on Market2
Property Features for 2007 Aldrich Ave S
General Information
Standard status
Active
Size
13,500 SF
Property subtype
Multifamily
Occupancy
100%
Net Operating Income
$133,745
Financials
Cap Rate
7.87%
Average Monthly Rent
$1,457
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
12 x 2BR
Multifamily Units
12
Building Details
Building Size
13,500 SF
Year Built
1900
Listed By:
Cody Smith
(651) 353-3657
Source:
Kisergroup
Added: Sep 2
Last Checked: Sep 2 at 2:06PM
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 Cody Smith
Investment Insights
Based on property information with market context.
This apartment building contains 12 two-bedroom units averaging approximately 1,000 SF, with large-format floor plans throughout. Kitchen finishes and mechanical systems have been updated, and a new roof was installed in 2023. The property is 100% occupied, with average in-place rents of approximately $1,457 per unit and market rents of approximately $1,550 per unit.
The building is located in Minneapolis’ Lowry Hill East neighborhood, near Uptown, the Chain of Lakes, major highways and interstates, and a broad selection of dining, retail, entertainment, and recreational amenities. Financial metrics include a 7.87% going-in cap rate, $134,556 in Year 1 Pro Forma NOI, a 7.92% cap rate, and a 9.33% Year 1 projected cash-on-cash return based on modeled financing.
The building is located in Minneapolis’ Lowry Hill East neighborhood, near Uptown, the Chain of Lakes, major highways and interstates, and a broad selection of dining, retail, entertainment, and recreational amenities. Financial metrics include a 7.87% going-in cap rate, $134,556 in Year 1 Pro Forma NOI, a 7.92% cap rate, and a 9.33% Year 1 projected cash-on-cash return based on modeled financing.
Key Highlights
- 12 two‑bedroom units averaging approximately 1,000 SF
- 100% occupied with average in‑place rents of approximately $1,457/unit
- Market rents of approximately $1,550/unit
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,773
Businesses Nearby
Explore this area
Business Placement
Demographics for 55405, MN
15,497
Population
8,724
Households
1.8
Avg Household Size
34
Median Age
59%
College-Educated
95%
High-School Grad
2.8 sq mi
ZIP Area
5,535
Density / Sq Mi
$70,425
Median Household Income
$47,271
Median Earnings
$1,188
Median Rent
$450,200
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 - Twelve fully occupied apartments feature expansive layouts, updated kitchens, refreshed mechanical systems, and a 2023 roof.
Where is this apartment building located?
The property is located at 2007 Aldrich Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 12 two‑bedroom units averaging approximately 1,000 SF; 100% occupied with average in‑place rents of approximately $1,457/unit; Market rents of approximately $1,550/unit
