Two-Level Apartment
For Sale
$999,950
752 Southview Dr, Anoka, MN 55303
Fully rented property with updated mechanical systems, garage stalls, and tenant storage lockers.
Property Size6,656 SF
Lot Size0.47 Acres
Price / SF$150.23
Days on Market78
Property Features for 752 Southview Dr
General Information
Standard status
Active
Size
6,656 SF
Total Parking Spaces
7
Lot size
0.47 Acres
Property subtype
Multifamily
Zoning
R-1
Occupancy
100%
Units
Unit Mix
6 x 2BR, 2 x 3BR
Multifamily Units
8
Additional Details
Utilities to Site
Yes
Amenities
on-site laundry
storage lockers
Building Details
Building Size
6,656 SF
Year Built
1963
Stories
2
Tenancy
Multi
Listing Agency:
Results Commercial
Listed By:
Mark Hulsey · License #40169559
(651) 755-2068
Source:
Resultscommercial
Added: Jul 30
Changed: Oct 4
Last Checked: Oct 14 at 8:15PM
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 Results Commercial
Investment Insights
Based on property information with market context.
This two-level apartment property at 752 Southview Dr in Anoka includes 8 units: six two-bedroom apartments and two three-bedroom apartments. The 6,656-square-foot building occupies 0.47 acres and was built in 1963. Interior and exterior areas are described as being in good condition, with a roof approximately 10 years old and a new boiler installed in 2022.
The property is fully rented on month-to-month leases, with tenants responsible for electric service. Eight electrical meters and one house meter support the building’s utility configuration. On-site features include 7 garage stalls, on-street parking, tenant storage lockers, two washers, and two dryers owned by the seller. The property is zoned R-1 and includes a longtime caretaker.
The property is fully rented on month-to-month leases, with tenants responsible for electric service. Eight electrical meters and one house meter support the building’s utility configuration. On-site features include 7 garage stalls, on-street parking, tenant storage lockers, two washers, and two dryers owned by the seller. The property is zoned R-1 and includes a longtime caretaker.
Key Highlights
- 8‑unit apartment property with six 2‑bedroom units and two 3‑bedroom units
- 6,656 SF building on 0.47 acres; built in 1963
- Fully rented with month‑to‑month leases; tenants pay electric
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,965
Cap Rate
7.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,519,300
$1.5M
Cap Rate 7%
$1,085,214
$1.1M
Cap Rate 9%
$844,056
$844.1K
Market Conditions
NOI Build-Up for 6,656 SF
Gross rent
$148.6K $22.32/SF
− Vacancy
−$10.4K −$1.57/SF
EGI
$138.1K $20.75/SF
− OpEx
−$62.2K −$9.34/SF
NOI
$76.0K $11.41/SF
Area
Anoka County, MN
Vacancy
7.03%
Lease Rate
$22.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,519,300
Cap Rate 7%
$1,085,214
Cap Rate 9%
$844,056
Alternative Uses
Best Use
Apartment 5plus
$1.09M
$949.6K – $1.27M
NOI $75,965 @ 7.0% cap · market cap 7.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,418 @ 7.0% cap · market cap 12.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
8
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
821
Businesses Nearby
Explore this area
Business Placement
Demographics for 55303, MN
51,480
Population
20,317
Households
2.5
Avg Household Size
38
Median Age
31%
College-Educated
96%
High-School Grad
64.4 sq mi
ZIP Area
799
Density / Sq Mi
$101,351
Median Household Income
$54,788
Median Earnings
$1,348
Median Rent
$338,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Fully rented property with updated mechanical systems, garage stalls, and tenant storage lockers.
Where is this apartment building located?
The property is located at 752 Southview Dr Anoka, MN.
What is the asking price?
The asking price for this property is $999,950.
What are key features of this property?
This property features: 8‑unit apartment property with six 2‑bedroom units and two 3‑bedroom units; 6,656 SF building on 0.47 acres; built in 1963; Fully rented with month‑to‑month leases; tenants pay electric
