Active
401 University Avenue SE
Minneapolis MN, 55414
$8,200,000
$252.21 per sqft
Active
32,512 sqft
Commercial
Built in 2018
Archer Apartments is an upscale, modern 43-unit residential apartment building close to the UofM campus, downtown Minneapolis, and the popular St. Anthony Main neighborhood. This rare opportunity to bolster any residential and/or commercial portfolio with a turn-key property does not hit the market often. Operating as a fully residential community under professional management, Archer has achieved consistent occupancy performance of 95%+ since it's completion in 2018. Features and amenities include (39) 1-bedroom units, (4) studio units, (18) parking spots in heated first floor garage, a gym, a secure bike storage room, multiple shared community room spaces including a rooftop deck with built-in grill, an Amazon package locker and modern mail box system, elevator, and Butterfly entry technology system. As an A-Class property situated on a corner lot in NE Minneapolis, Archer is sure to impress investors and tenants alike with full kitchen suites, garbage disposals, and in-unit laundry for each apartment. Buyer and Buyer's agent to verify all measurements.
6634669
MLSⓇ ID
November 25, 2024
Listed
December 9, 2024
Updated
Map
401 University Avenue SE
Minneapolis MN, 55414
Interior Features
Total Stories
3
Appliances
Dishwasher, Disposal, Dryer, Exhaust Fan, Freezer, Gas Water Heater, Microwave, Range, Refrigerator, Stainless Steel Appliances, Washer
Fireplace
No
Cooling
Yes
Cooling Description
Wall Unit(s)
Heating
Yes
Heating Description
Forced Air
Exterior/Building Features
Lot Size
0.25 Acres
Lot Features
Public Transit (w/in 6 blks), Corner Lot, Tree Coverage - Light
Roof
Age 8 Years or Less, Rubber
Sewer
City Sewer/Connected
School Information
School District
Minneapolis
Other Property Details
Taxes
$116,639
Tax Frequency
Annually
Days on Market
14
Association Amenities
Deck, Elevator(s), Fire Sprinkler System, Other, Patio
Garage
Yes
Garage Spaces
18
Parking
Assigned, Covered, Electric, Floor Drain, Garage Door Opener, Heated Garage, Insulated Garage, Parking Garage, Secured, Storage, Underground
View
No
County
Hennepin
Water Source
City Water/Connected
Pool
No
Courtesy of Stepping Stone Brokers LLC
If a listing is in Coming Soon status, it is not currently available for showings but will be soon. Open House information is subject to change without warning. This home sale information is not an appraisal, competitive or comparative market analysis, CMA, or home evaluation. Information Deemed Reliable But Not Guaranteed. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor Luke Delacey shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
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Data last updated 4:49 PM UTC, 12/9/2024