$5,220,000
Minneapolis, MN 55414
MLS# 6224842
Status: Closed
Property Description
We are pleased to offer a one-of-a-kind, high demand, & stable 66-Unit multifamily asset at the University of Minnesota. This offering also serves as an excellent student housing redevelopment site now or in the future. This rare investment opportunity has been under the same family ownership for 24 years and is finally offered for sale. These two buildings totaling 66 units have brand new large student housing construction developments on both sides of the buildings with the U of M practice football field across the street. Excellent convenient Dinkytown location - the heart of the U of M! Once you take a look at this location , it speaks for itself. You will also see the U of M is in the midst of a major student housing transformation at this time with state of the art housing facilities being built across the campus. Here's your chance to be part of this historic change on a Big 10 campus.
Details
Maps
Contract Information
Availability: Available
Owner is an Agent?: No
Status: Closed
Off Market Date: 2023-06-22
Current Price: $5,220,000
Closed Date: 2023-07-21
Sales Close Price: 5220000
Contingency: None
ListPrice: 5750000
List Date: 2022-06-22
Office/Member Info
Association: MAAR
MLSID: RMLS
General Property Information
Living Area Units: Square Feet
Lot Measurement: Acres
Multiple PIDs?: Yes
Other Parking Spaces: 15
Year Built: 1936
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Lot Dimensions: 330x110
Acres: 0.42
Foundation Size: 7564
Garage Stalls: 0
For Sale or Lease: For Sale
Assessment Pending: Unknown
Location, Tax and Other Information
Legal Description: LOT 007 BLOCK 007 UNIVERSITY ADDN TO MPLS
Listing City: Minneapolis
Map Page: 107
Rental License?: Yes
School District: Minneapolis
Map Coordinate Source: RETS
Zip Plus 4: 9348
Property ID Number: 2402924410020
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No
Directions & Remarks
Public Remarks: We are pleased to offer a one-of-a-kind, high demand, & stable 66-Unit multifamily asset at the University of Minnesota. This offering also serves as an excellent student housing redevelopment site now or in the future. This rare investment opportunity has been under the same family ownership for 24 years and is finally offered for sale. These two buildings totaling 66 units have brand new large student housing construction developments on both sides of the buildings with the U of M practice football field across the street. Excellent convenient Dinkytown location - the heart of the U of M! Once you take a look at this location , it speaks for itself. You will also see the U of M is in the midst of a major student housing transformation at this time with state of the art housing facilities being built across the campus. Here's your chance to be part of this historic change on a Big 10 campus.
Directions: Corner of 15th Ave SE & SE 8th St near the University of Minnesota.
Accessible
None: 1
Additional Parcels Information
Property ID #2: 2402924410021
Air Conditioning
Window Unit(s): 1
Amenities Shared
Coin-op Laundry Owned: 1
Amenities Unit
City View: 1
Assumable Loan
Not Assumable: 1
Basement
Foundation Dimensions: 0
Full: 1
Building Information
Building Finished SqFt: 25596
Building SqFt: 25596
Construction Status
Previously Owned: 1
Exterior
Brick/Stone: 1
Stucco: 1
Financing Terms
Conventional: 1
Fuel
Electric: 1
Natural Gas: 1
Heating
Boiler: 1
Hot Water: 1
Lease Details
Land Leased: Not Applicable
Monthly Land Lease Amt: 0
Lease Amount Type: Yearly
Lock Box Type
None: 1
Lot Description
Corner Lot: 1
Miscellaneous Information
Homestead: No
Owner Pays
Fuel: 1
Insurance: 1
Taxes: 1
Water: 1
Ownership
Fractional Ownership: No
Parking Characteristics
Paved Lot: 1
Uncovered/Open: 1
Pool Description
None: 1
Public Survey Info
Range#: 24
Section#: 24
Township#: 29
Rental License Type
Standard: 1
Sale Options
Sale Includes: Building, Land, Leases
Sewer
City Sewer/Connected: 1
Unit Details
Total Units: 66
Water
City Water/Connected: 1
Tenant Pays
Cable TV: 1
Electricity: 1
On Site Utilities
Electric Common: 1
Heating Common: 1
Hot Water Separate: 1
CMU Style
Apartments/Multi Family: 1
High Rise: 1
Low Rise: 1
Current Use
Commercial: 1
Residential: 1
Loan Terms
Cash: 1
Conventional: 1
Location Tax and Other Information
House Number: 727
Street Name: 15th
Street Suffix: Avenue
Street Direction Suffix: SE
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55414
Complex/Dev/Subdivision: University Add
Property Features
Accessible: None
Air Conditioning: Window Unit(s)
Amenities Shared: Coin-op Laundry Owned
Amenities Unit: City View
Assumable Loan: Not Assumable
Basement: Full
CMU Style: Apartments/Multi Family; High Rise; Low Rise
Construction Status: Previously Owned
Current Use: Commercial; Residential
Exterior: Brick/Stone; Stucco
Financing Terms: Conventional
Fuel: Electric; Natural Gas
Heating: Boiler; Hot Water
Loan Terms: Cash; Conventional
Lock Box Type: None
Lot Description: Corner Lot
On Site Utilities: Electric Common; Heating Common; Hot Water Separate
Owner Pays: Fuel; Insurance; Taxes; Water
Parking Characteristics: Paved Lot; Uncovered/Open
Pool Description: None
Rental License Type: Standard
Sewer: City Sewer/Connected
Tenant Pays: Cable TV; Electricity
Water: City Water/Connected
Listing Office: RE/MAX Results
Last Updated: August - 07 - 2025
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.