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Archer | 401 University Ave SE
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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
![401 University Ave SE, Minneapolis, MN for sale - Building Photo - Image 1 of 28](https://images1.loopnet.com/i2/DJZHm33THPiYIIo9col4oHDNeRSVF1KfUE4bOKZEF1s/110/401-University-Ave-SE-Minneapolis-MN-Building-Photo-1-Large.jpg)
![401 University Ave SE, Minneapolis, MN for sale - Building Photo - Image 2 of 28](https://images1.loopnet.com/i2/17YlZ9Lx66DhnDE4SSmOFR53Sf-CWenFz42Oybxw_nY/110/401-University-Ave-SE-Minneapolis-MN-Building-Photo-2-Large.jpg)
![401 University Ave SE, Minneapolis, MN for sale - Building Photo - Image 3 of 28](https://images1.loopnet.com/i2/HdwgmCZbnTAZ2MopLgg2BUcSuKoKRNhcYY3QytYFMDM/110/401-University-Ave-SE-Minneapolis-MN-Building-Photo-3-Large.jpg)
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.
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 | Building Class | A |
Price Per Unit | $186,046 | Lot Size | 0.25 AC |
Sale Type | Investment | Building Size | 35,512 SF |
Cap Rate | 6.31% | Average Occupancy | 95% |
No. Units | 43 | No. Stories | 5 |
Property Type | Multifamily | Year Built | 2018 |
Property Subtype | Apartment | Parking Ratio | 0.51/1,000 SF |
Apartment Style | Mid Rise |
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)
PROPERTY TAXES
Parcel Number | 23-029-24-14-0086 | Improvements Assessment | $6,910,800 |
Land Assessment | $381,200 | Total Assessment | $7,292,000 |
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) |
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Archer | 401 University Ave SE
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