Trailway Apartments | 8400 Minnetonka Blvd
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Trailway Apartments 8400 Minnetonka Blvd
50 Unit Apartment Building $5,250,000 ($105,000/Unit) 6.10% Cap Rate Saint Louis Park, MN 55426
Executive Summary
50-unit apartment property, which includes two 11-unit buildings, one 27-unit building and one SFH. The property is set on 1.74 acres and is adjacent to the Cedar Bike Trail. There has been significant development within a half mile of this property including the Texa-Tonka strip center and new apartment construction. There is an assumable loan with interest rate of 3.91% fixed to 2/2027.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
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| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $5,250,000 | Building Class | C |
| Price Per Unit | $105,000 | Lot Size | 0.85 AC |
| Sale Type | Investment | Building Size | 35,000 SF |
| Cap Rate | 6.10% | Average Occupancy | 83% |
| No. Units | 50 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1958/1975 |
| Property Subtype | Apartment | Parking Ratio | 1.43/1,000 SF |
| Apartment Style | Low Rise |
| Price | $5,250,000 |
| Price Per Unit | $105,000 |
| Sale Type | Investment |
| Cap Rate | 6.10% |
| No. Units | 50 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.85 AC |
| Building Size | 35,000 SF |
| Average Occupancy | 83% |
| No. Stories | 2 |
| Year Built/Renovated | 1958/1975 |
| Parking Ratio | 1.43/1,000 SF |
Unit Amenities
- Balcony
- Cable Ready
- Heating
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Walk-In Closets
- Patio
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 29 | - | 1 |
| 2+1 | 21 | - | 1 |
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Bike Score ®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $4,471,000 (2023) | |
| Land Assessment | $771,000 (2023) | Total Assessment | $5,242,000 (2023) |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$771,000 (2023)
Improvements Assessment
$4,471,000 (2023)
Total Assessment
$5,242,000 (2023)
zoning
| Zoning Code | R4 |
| R4 |
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Trailway Apartments | 8400 Minnetonka Blvd
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