OFF MARKET- Farmington Apartments Listing Details & Market Data

5740 Sander Drive, Minneapolis, MN 55417

  • For Sale $1,750,000
  • Property Type Multi-Family
  • Property Size 15,894 SF
  • Units 17
  • Lot Size 0.28 Acre
  • Property Tenancy Multi-Tenant
  • Year Built 1964
  • Date Updated Apr 4, 2024
Nestled in the sought-after Wenonah neighborhood, this property enjoys proximity to Minneapolis–Saint Paul International Airport, offering unparalleled convenience for business travelers. Just a stone's throw away, Lake Nokomis provides a picturesque retreat for leisurely walks and outdoor activities. For healthcare professionals and patients, the VA hospital is within easy reach. Commuters will appreciate the seamless access to public transportation, with the MTC bus and lightrail stations nearby. Embrace the perfect blend of accessibility and tranquility in this thriving neighborhood.Experience the untapped potential of Farmington Apartments, a promising investment opportunity in Minneapolis, MN. Boasting a proforma cap rate exceeding 8%, this property offers substantial upside for astute investors. With the majority of units primed for upgrades, including refurbished cabinets, new carpets, and modernized appliances, there's an opportunity to enhance the property's value and command higher rents. By implementing strategic improvements, this property presents a compelling prospect for maximizing returns and positioning for sustained growth. Explore the potential of this property and unlock its value in the thriving Minneapolis real estate market.

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Highlights

  • Proforma: 8% Cap Rate
  • Proforma: 1.4 Debt Service Coverage Ratio
  • Room to grow rents
  • Minutes from the airport, light rail, and Lake Nokomis

Contacts

broker

William Schultz

William Schultz - KW

(651) 216-6814

Location

Getting Around

  • Walk Score ®

    Car-Dependent (36)

  • Transit Score ®

    Some Transit (35)

  • Bike Score ®

    Bikeable (50)
Powered by Walk Score ®
  • City Minneapolis, MN
  • Neighborhood Wenoah
  • Zip Code 55417
  • Market Minneapolis St Paul

Points of Interest

  • VA Medical Center

    1.17 miles

  • 50th Street/Minnehaha Park

    1.19 miles

  • Fort Snelling

    1.41 miles

  • 46th Street

    1.53 miles

  • Terminal 1 - Lindbergh

    1.61 miles

  • Terminal 2 - Humphrey

    1.72 miles

  • 38th Street

    2.47 miles

  • American Boulevard

    2.79 miles

  • Bloomington Central

    2.95 miles

  • 28th Avenue

    3.00 miles

  • Fort Snelling Base Exchange

    0.39 miles

  • Speedway

    0.81 miles

  • ChargePoint

    1.43 miles

  • Holiday

    1.45 miles

  • Speedway

    1.62 miles

  • Jim's Chicago Service

    1.87 miles

  • Shell

    2.32 miles

  • Super America

    2.36 miles

  • Bobby & Steve's Auto World

    2.55 miles

  • Winner on 46th

    2.60 miles

  • Handicapped Parking

    1.05 miles

  • Airport Viewing Area

    1.18 miles

  • Lake Nokomis Pay Parking

    1.26 miles

  • Green Ramp

    1.38 miles

  • Gold Ramp

    1.40 miles

  • Fort Snelling South

    1.49 miles

  • 46th St Station Waiting Lot

    1.50 miles

  • Blue Ramp

    1.52 miles

  • Red Ramp

    1.56 miles

  • Signature Air Support

    1.59 miles

  • Las Teresitas

    0.11 miles

  • Boss' Pizza & Chicken

    0.34 miles

  • Dominguez Family Restaurant

    0.92 miles

  • Al Vento

    0.93 miles

  • Fat Lorenzo's

    1.09 miles

  • 5-8 Club

    1.10 miles

  • LoLo

    1.11 miles

  • Qdoba

    1.15 miles

  • Hi-Lo Diner

    1.17 miles

  • Salty Tart Bakery

    1.17 miles

  • Lake Nokomis Community School - Wenonah Campus

    0.62 miles

  • Lake Nokomis Community School Keewaydin Campus

    0.67 miles

  • Starbase

    1.20 miles

  • Hale School

    1.61 miles

  • St. Helena Catholic School

    1.73 miles

  • Northrop Urban Environmental Learning Center

    1.74 miles

  • Hiawatha Leadership Academy Northrop

    1.85 miles

  • Hiawatha Elementary School

    2.00 miles

  • Roosevelt High School

    2.08 miles

  • Friendship Academy of the Arts

    2.08 miles

  • Tierra Encantada

    2.15 miles

  • Augsburg Park Montesorri School

    2.18 miles

  • Linkage Childcare Center

    2.22 miles

  • Jardin Spanish Immersion Academy

    2.47 miles

  • Nokomis Child Care Center

    2.53 miles

  • Wholechild Pre-School

    2.58 miles

  • Mano's Highland Village Montessori School

    2.59 miles

  • Early Childhood Development Center

    2.72 miles

  • The Little School

    2.77 miles

  • McKnight Early Childhood Family Development Center

    2.92 miles

Contact Listing Broker

broker

William Schultz

William Schultz - KW

(651) 216-6814