Minneapolis Apartment Building

Highlights:

• Significant value add potential through rent growth and increased occupancy. This rent growth can easily be achieved by upgrading units, raising in place rents and immediate lease up of the existing vacancies.
• The property is owned by the family of the original builder and has been meticulously maintained.
• Lakeshore Arms Apartments is located in one of the most desired apartment settings in all of Minneapolis with great access to restaurants, grocery stores, shopping, and picturesque views of Lake Bde Maka Ska.
• Lakeshore Arms Apartments will be located blocks from the new West Lake Street Light Rail Station that is currently under construction. The Dean Parkway bus stop is also located ½ block from the subject property.
• Brick building with masonry accents and ornate windows.
• Property is in excellent condition and still has room for improvement via cosmetic improvements.

Description:

Please contact the brokers or click the link below to receive the offering memorandum:

https://www.cbredealflow.com/buyer/agreement?pv=THxWreewEfd4cLl-zmpu0wcoN14SAbXx5OO4A2LH6M4dHCf3FUJryReAsvfc5GA8

CBRE is pleased to exclusively present the opportunity to acquire The Lakeshore Arms Apartments in Minneapolis, MN. The property consists of 17 One Bedroom units with 16 underground parking spaces. The property is located in one of the most desired apartment settings in all of the Twin Cities with great access to restaurants, shopping, and picturesque views of Lake Bde Maka Ska.

Lakeshore Arms Apartments is still owned by the family of the original developer and has been meticulously maintained. The landlords have had quality long term tenants throughout the duration of their ownership. As a result, there is significant value add potential through rent growth and increased occupancy. This rent growth can easily be achieved by upgrading units, raising in place rents and immediate lease up of the existing vacancies.

Location. Location. Location. Lakeshore Arms Apartments is positioned within the Minneapolis Chain of Lakes with easy access to lake Bde Maka Ska. Bde Maka Ska formerly known as Lake Calhoun is the largest lake in Minneapolis (401 acres). Beaches, water activities, parks, and a trail system surrounding the lake make this the go to area for people looking to enjoy the outdoors. One block from Lakeshore Arms Apartments is a variety of grocery, shopping, and restaurant options. Those options are further expanded within the Uptown entertainment district which is also within walking distance.