500 West 28th Street 500 W 28th St Immeuble residentiel 11 lots À vendre Minneapolis, MN 55408

Marcus & Millichap, as the exclusive listing agent, is pleased to present for sale 28th Street Apartments, an 11-unit apartment community located in the Whittier/Uptown neighborhood of Minneapolis, MN.
500 West 28th Street is available for purchase for the first time in over ten years. Built in 1961, this well-maintained apartment community features 11 one-bedroom units, each offering 550 square feet of living space. With a total of 6,050 rentable square feet, the property’s efficient layout and thoughtful care over the years present strong appeal to renters seeking quality housing in an established area.
The property includes a 11-space parking lot, an attractive feature for tenants in the relatively dense urban setting. Major capital improvements include a roof from 2015 and windows from 2008. Unit interior updates include bathrooms, kitchens, and flooring. With average rents at $962, this opportunity blends consistent cash flow for the owner and affordability/convenience for the tenant. Rental demand is predicted to increase over the next couple of years ensuring this property remains highly occupied. This exceptionally well-maintained property has excellent current and historical occupancy.
We are pleased to present this beloved asset in a core Minneapolis neighborhood. The property’s prime location near highly-rated dining destinations, including World Street Kitchen, Black Forest Inn, and Centro Nicollet further enhances its desirability. Positioned in a vibrant neighborhood with easy access to local amenities, 28th Street Apartments offers a compelling investment opportunity with a high potential for long-term growth.