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Archer 401 University Ave SE

43 Unit Apartment Building $7,999,999 ($186,046/Unit) 6.31% Cap Rate Minneapolis, MN 55414

INVESTMENT HIGHLIGHTS

  • The Archer is a Class A apartment community with best-in-class features and amenities, positioned as an ideal investment in the Minneapolis MSA.
  • The property is walkable to popular dining options, including Glam Doll Donuts, HeadFlyer Brewing, Aster Café, Jefe Urban Cocina, and Alma.
  • The community attracts tenants with an on-site fitness facility, community workspaces, free bike storage, and heated off-street parking.
  • Placed just a few minutes from Dinkytown and the University of Minnesota, near quality retail amenities.

EXECUTIVE SUMMARY

Discover this incredible opportunity to acquire a Class A apartment investment with best-in-class features and amenities and an easily accessible location at the Archer Apartments in Minneapolis, Minnesota.

The Archer comprises 43 upscale units across five floors originally built in 2018. One of the newer communities in the area, the facility’s desirable features and amenities set it apart from other properties nearby. Tenants enjoy access to an on-site fitness facility, community workspaces with Wi-Fi, free bike storage, and heated off-street parking. Units boast sleek, high-end finishes and feature dishwashers, large closets, washer/dryers, stainless steel kitchen appliances, high ceilings, and large windows that allow for rich natural lighting.

The Archer is placed just a few minutes from eclectic Dinkytown and the University of Minnesota’s East Bank campus, near quality urban amenities. Local professionals enjoy the property’s convenient proximity to commuter arteries, including Central Avenue and Interstate 35W. Several of the area’s excellent parks are within walking distance, including Holmes Park, Father Hennepin Bluff Park, and Excel Energy Water Power Park. The property is also walkable to popular local dining options, including the Glam Doll Donuts, HeadFlyer Brewing, Aster Café, Hola Coffee, Jefe Urban Cocina, and Alma. Minneapolis city center is just over a mile away, providing endless opportunities for dining, shopping, recreation, and nightlife.

FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access

ANNUAL ANNUAL PER SF
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes - -
Operating Expenses - -
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual $99,999
Annual Per SF $9.99
Vacancy Loss
Annual $99,999
Annual Per SF $9.99
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual -
Annual Per SF -
Operating Expenses
Annual -
Annual Per SF -
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

PROPERTY FACTS

Price $7,999,999
Price Per Unit $186,046
Sale Type Investment
Cap Rate 6.31%
No. Units 43
Property Type Multifamily
Property Subtype Apartment
Apartment Style Mid Rise
Building Class A
Lot Size 0.25 AC
Building Size 35,512 SF
Average Occupancy 95%
No. Stories 5
Year Built 2018
Parking Ratio 0.51/1,000 SF

UNIT AMENITIES

  • Air Conditioning
  • Dishwasher
  • Disposal
  • Microwave
  • Washer/Dryer
  • Kitchen
  • Refrigerator
  • Oven
  • Sprinkler System
  • Stainless Steel Appliances
  • Range
  • Tub/Shower
  • Wi-Fi
  • Deck
  • Smoke Free
  • Vinyl Flooring

SITE AMENITIES

  • Fitness Center
  • Grill
  • Package Service
  • Lounge
  • Roommate Matching
  • Study Lounge

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
1+1 39 - 480 - 778
Studios 4 - 393
Walk Score®
Walker's Paradise (90)
Bike Score®
Very Bikeable (88)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
23-029-24-14-0086
Land Assessment
$381,200
Improvements Assessment
$6,910,800
Total Assessment
$7,292,000

ZONING

Zoning Code R5, UA (Multi-Family Residential)
R5, UA (Multi-Family Residential)
  • Listing ID: 33998106

  • Date on Market: 11/25/2024

  • Last Updated:

  • Address: 401 University Ave SE, Minneapolis, MN 55414

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