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Property summary
This exceptional 11-unit apartment building, located in the heart of Richfield, Minnesota, presents a compelling investment opportunity. The property boasts 12,000 square feet of net rentable space, spread across a three-story building constructed in 1961 and extensively renovated in 2019. Ten of the eleven units have undergone high-end kitchen remodels, featuring new cabinets, countertops, and energy-efficient stainless steel appliances, including dishwashers. Two units even include built-in… microwaves. Significant exterior improvements include a newer roof (replaced in 2014), updated windows, fascia, and gutters, and secured front and back entry doors with sidelights. Further enhancing efficiency, a high-efficiency hot water boiler was installed in Spring 2024. The property sits on a 0.28-acre lot and includes 11 parking spaces. Currently operating at 100% occupancy, the property generates a strong NOI of $83,218.21, representing a 6.16% cap rate. The asking price is $1,349,900, translating to $122,718.18 per unit and $112.49 per square foot. This stabilized, value-add investment is offered in turnkey condition with no delinquencies and is ideally suited for a 1031 exchange. The property's permitted zoning is multi-family, and the Hennepin County APN is 27-028-24-24-0017.
Ownership intelligence
Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.
Owner contacts
Skip-traced phones and e-mails of the owner. Included with the full report.
Debts
Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.
Property tax
No data for this sectionNo tax or assessment record is on file for this parcel in the county feed.
Value estimate
· Oct 2026No data for this sectionNo value estimate could be modeled: the record carries too little market input for this parcel.
Recently sold
No data for this sectionNo cleaned sale $/SF benchmark exists for this use type in this ZIP, submarket or county yet.
Cap rate analysis
No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.
Zoning insight
No data for this sectionNo zoning code is on file for this parcel. Coverage grows with every catalog release.
Location intelligence
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
13 properties in this cityComparable in this city
Similar Nearby for Sale
Similar in This City for Lease
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
from $199/month
- GBA
- 12,000 SF
- Lot area
- 0.28 ac
- Year built
- 1961
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $199/month
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Unlock the evidence behind ownership: portfolio, transactions, debt and any signals we can model, to help you decide who to contact next.
Registration is required before any owner information is shown.
The mortgage data is behind the paid report: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
Registration is required before any owner information is shown.
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- Signals, scores & lead lists
- 300 owner contacts a month
- 30 full reports a month
- Ownership
- Owner Contacts
- Location Analytics
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
Cancel anytime.
- Signals, scores & lead lists
- 1500 owner contacts a month
- 150 full reports a month
- Ownership
- Owner Contacts
- Location Analytics
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
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