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2007 Aldrich Ave S
Minneapolis, MN 55405 Lowry Hill

$1,700,000 USD

Apartments For Sale  •  12,000 SF

Property Details

• Property Type Apartments
• Total Building Size 12,000 SF
• Lot Size 0.19 AC
• Building Class C
• Year Built 1900

90 Transit Score

90 Walk Score

Highlights

12 spacious 2-bedroom units averaging approximately 1,000 SF | Market rents of approximately $1,550/unit, providing potential for continued rental

Large-format floor plans | $133,745 trailing NOI | 7.87% going-in cap rate

Newer kitchen finishes | $134,556 Year 1 Pro Forma NOI | 7.92% cap rate

Newer mechanical systems | 9.33% Year 1 projected cash-on-cash return based on modeled financing

New roof installed in 2023

100% occupied with average in-place rents of approximately $1,457/unit

Public Transportation

Commuter Rail	Drive	Walk	Distance
Target Field Station (Northstar Corridor - Northstar Commuter Rail)	7 min	-	2.2 mi
Fridley Station (Northstar Corridor - Northstar Commuter Rail)	15 min	-	9.0 mi
Airport	Drive	Walk	Distance
Minneapolis-St Paul International/Wold-Chamberlain	24 min	-	12.9 mi