17240 Idlewood Way Lakeville, MN 55044

Property Details for 17240 Idlewood Way

Property type

Residential income homes

Description

This exceptional investment opportunity presents a portfolio of eleven single-family homes and townhomes situated in the desirable Lakeville and Burnsville, Minnesota suburbs. Boasting a robust net operating income (NOI) of $254,000 and a compelling 5.2% capitalization rate, this portfolio offers significant financial returns. Currently occupied by long-term tenants at above-market rates, the properties have maintained less than 1% vacancy for two decades, demonstrating exceptional stability and consistent cash flow. The portfolio benefits from the area's consistently strong property value appreciation, located minutes from downtown Minneapolis/St. Paul, MSP Airport, and the Mall of America. Each property is individually rentable, offering flexibility for the investor. The homes are zoned for residential single-family use, ensuring compliance and long-term viability. The asking price is $4,900,000, translating to approximately $408,333 per unit. This represents a rare opportunity to acquire a well-established, high-performing rental portfolio in a prime location with significant upside potential for future revenue growth due to the tenants' history of accepting annual rent increases. The portfolio is offered for sale by owner.

Location Insight

City

Lakeville

County

Dakota

State

Minnesota

Longitude

-93.2553571

Latitude

44.6991889