The Fairways Apartments at Edinburgh | 8617 Edinbrook Xing
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The Fairways Apartments at Edinburgh 8617 Edinbrook Xing
198 Unit Apartment Building For Sale Brooklyn Park, MN 55443
Investment Highlights
- 610 Corridor Growth - Med Tech Alley
- Strong Renewal Retention
- Superior Amenity Offering
- Significant Renovations During Current Ownership Tenure
- Serene Golf Course Setting
- Proximity to Maple Grove Retail
Executive Summary
The Fairways Apartments at Edinburgh is a 198-unit apartment community overlooking Edinburgh USA Golf Course, located just south of the rapid growth 610 Corridor. The property has undergone significant renovations under current ownership including complete unit renovations and common area updates. The property is well-positioned for strong rent growth given operational trendline, with NOI having grown 8%.
???????The Brooklyn Park submarket has seen growth in rents and current market vacancy is 2.4%. The major differentiating factor with The Fairways is its large average unit size of 1,121 square feet and attractive unit mix with 70% 2 BR / 2BA. In addition, 48% of the units have golf course views and all units have in-unit, full size washer/dryer.
The property is being offered free and clear.
???????The Brooklyn Park submarket has seen growth in rents and current market vacancy is 2.4%. The major differentiating factor with The Fairways is its large average unit size of 1,121 square feet and attractive unit mix with 70% 2 BR / 2BA. In addition, 48% of the units have golf course views and all units have in-unit, full size washer/dryer.
The property is being offered free and clear.
Property Facts Under Contract
| Sale Type | Investment | Lot Size | 11.31 AC |
| No. Units | 198 | Building Size | 340,676 SF |
| Property Type | Multifamily | Average Occupancy | 94% |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid Rise | Year Built/Renovated | 1992/2017 |
| Building Class | B | Parking Ratio | 0.36/1,000 SF |
| Sale Type | Investment |
| No. Units | 198 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | B |
| Lot Size | 11.31 AC |
| Building Size | 340,676 SF |
| Average Occupancy | 94% |
| No. Stories | 4 |
| Year Built/Renovated | 1992/2017 |
| Parking Ratio | 0.36/1,000 SF |
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Washer/Dryer
- Heating
- Security System
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Dining Room
- Window Coverings
Site Amenities
- 24 Hour Access
- Controlled Access
- Clubhouse
- Courtyard
- Fitness Center
- Laundry Facilities
- Picnic Area
- Pool
- Property Manager on Site
- Spa
- Breakfast/Coffee Concierge
- Disposal Chutes
- Grill
- Package Service
- Recycling
- Storage Space
- Elevator
- Lounge
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | 469 |
| 1+1 | 36 | - | 805 - 870 |
| 2+2 | 132 | - | 1,072 - 1,346 |
| 3+2 | 27 | - | 1,488 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $48,385,969 CAD | |
| Land Assessment | $4,264,863 CAD | Total Assessment | $52,650,832 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$4,264,863 CAD
Improvements Assessment
$48,385,969 CAD
Total Assessment
$52,650,832 CAD
zoning
| Zoning Code | PCDD |
| PCDD |
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The Fairways Apartments at Edinburgh | 8617 Edinbrook Xing
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