The Flats @ Lowry Hill | 2200-2204 Hennepin Ave
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The Flats @ Lowry Hill 2200-2204 Hennepin Ave
8 Unit Apartment Building $3,147,873 CAD ($393,484 CAD/Unit) 8% Cap Rate Minneapolis, MN 55405
INVESTMENT HIGHLIGHTS
- Gorgeous Mixed-Use property fully leased to Specs Optical, Tao Organic Café + Herbery, and 8 Multi-Family Apartment Units.
- Tao has been a tenant for 50 years and Specs Optical has been a tenant for 26 years.
- Excellent demographics with a 5-mile average household income of $114,997 and 5-mile population of 504,289.
- Located in the Lowry Hill neighborhood of Minneapolis.
- This property is located near I-94 where traffic counts average 162,177 vehicles per day. Nearby retailers include Starbucks, The Lowry, & more.
- Eight 1 bedroom, 1 bathroom apartment units with 9 foot ceilings, hardwood & tile floors, 6 foot windows, and claw foot bathtubs.
PROPERTY FACTS
| Price | $3,147,873 CAD | Apartment Style | Low Rise |
| Price Per Unit | $393,484 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.25 AC |
| Cap Rate | 8% | Building Size | 11,070 SF |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1912 |
| Property Subtype | Apartment |
| Price | $3,147,873 CAD |
| Price Per Unit | $393,484 CAD |
| Sale Type | Investment |
| Cap Rate | 8% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 11,070 SF |
| No. Stories | 3 |
| Year Built | 1912 |
UNIT AMENITIES
- Air Conditioning
- Heating
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Walk Score®
Walker's Paradise (90)
Bike Score®
Very Bikeable (87)
PROPERTY TAXES
| Parcel Number | 33-029-24-12-0188 | Improvements Assessment | $1,851,584 CAD |
| Land Assessment | $869,327 CAD | Total Assessment | $2,720,911 CAD |
PROPERTY TAXES
Parcel Number
33-029-24-12-0188
Land Assessment
$869,327 CAD
Improvements Assessment
$1,851,584 CAD
Total Assessment
$2,720,911 CAD
ZONING
| Zoning Code | C1 |
| C1 |
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The Flats @ Lowry Hill | 2200-2204 Hennepin Ave
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