Property Details for 401 University Ave

Year built

2018

Lot size

0.25 lot acres

Property size

32,512 SF

Property type

Apartment buildings

Description

Archer Apartments, a stunning 43-unit apartment building in Minneapolis, MN, presents a rare investment opportunity. This turnkey property boasts a prime location at 401 University Avenue SE, placing it within easy reach of the University of Minnesota campus, downtown Minneapolis, and the vibrant St. Anthony Main neighborhood. Completed in 2018, the building consistently maintains a 95%+ occupancy rate, demonstrating strong rental demand. The property encompasses 32,512 square feet on a 0.25-acre corner lot. The unit mix includes 39 one-bedroom apartments and 4 studio apartments, all featuring full kitchens, garbage disposals, and in-unit laundry. Residents enjoy a range of amenities, including 18 heated parking spaces in a first-floor garage, a fitness center, secure bike storage, multiple shared community spaces, a rooftop deck with a built-in grill, an Amazon package locker, a modern mailbox system, an elevator, and a ButterflyMX entry system. The building's A-class status, modern design, and desirable location make it an exceptional asset for any investor seeking a high-performing, low-maintenance residential property. The asking price is $8,200,000. All measurements should be independently verified by the buyer.

Location Insight

City

Minneapolis

County

Hennepin

State

Minnesota

Longitude

-93.25028

Latitude

44.98522