CREEKVIEW APARTMENTS

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Address: 434 Blake Rd N, Hopkins, Minnesota, US
Created date: October 17, 2023
Date last updated: November 28, 2023

CREEKVIEW APARTMENTS IS A PRISTINE CLASS “C” ASSET IN A PRIME RE-DEVELOPMENT AREA! NUMEROUS UPGRADES THROUGHOUT THE PROPERTY. 24 OF THE 37 APARTMENTS HAVE BEEN FULLY REMODELED! ROOF REPLACED IN 2015, NEW WINDOWS & ENTRY DOORS IN 2016. BETWEEN THE SHOPPES AT KNOLLWOOD AND THE METRO GREEN LINE SOUTHWEST LIGHT RAIL TRANSIT. THERE’S ROOM TO ADD ANOTHER UNIT OR RE-PURPOSE THE PROPERTY INTO AN INDEPENDENT SENIOR LIVING FACILITY. FULLY OCCUPIED TURN-KEY MULTI-FAMILY INVESTMENT OPPORTUNITY!! AVG. 1-BD RENTS $1,089

Property Description

CREEKVIEW APARTMENTS IS A PRISTINE CLASS “C” ASSET IN A PRIME RE-DEVELOPMENT AREA! NUMEROUS UPGRADES THROUGHOUT THE PROPERTY. 24 OF THE 37 APARTMENTS HAVE BEEN FULLY REMODELED! ROOF REPLACED IN 2015, NEW WINDOWS & ENTRY DOORS IN 2016. BETWEEN THE SHOPPES AT KNOLLWOOD AND THE METRO GREEN LINE SOUTHWEST LIGHT RAIL TRANSIT. THERE’S ROOM TO ADD ANOTHER UNIT OR RE-PURPOSE THE PROPERTY INTO AN INDEPENDENT SENIOR LIVING FACILITY. FULLY OCCUPIED TURN-KEY MULTI-FAMILY INVESTMENT OPPORTUNITY!! AVG. 1-BD RENTS $1,089WWW.

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Multifamily type: Apartments
Price: $5,175,000
No. of Units: 37
Cap Rate: 6.45%
GRM /GIM: 10.38
Average Occupancy: 100
Year Built: 1961
Year Renovated: 2015
Building Size: 32,000 Sq ft
Lot Size: 1.25 Acres
No. of Stories: -1
APN: 19-117-21-12-0002
Buy Side Fee: 1.0%
Opportunity Zone: No
Price per unit: $139,865
Property Website Click Here
Address: 434 Blake Rd N, Hopkins, MN 55343, USA

FINANCIAL DETAILS

Income/expense info: Pro Forma
Financial year: 2023
Gross income: 498232
Effective Gross income: 498232
Operating expenses: 164301
Net operating income: 333931
Pre-tax cashflow: 333931

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