- For Sale $1,700,000
- Property Type Multi-Family
- Property Size 13,500 SF
- Units 12
- Lot Size 0.19 Acre
- Year Built 1900
- Date Updated Sep 2, 2026
Description
Ideally situated in the heart of Lowry Hill East, Minneapolis, 2007 Aldrich Ave S offers the best of both worlds—easy access to the energy and amenities of Uptown while remaining tucked within a quiet, established residential neighborhood. The property is just minutes from Minneapolis’ renowned chain of lakes, including Lake Bde Maka Ska, Lake Harriet, and Lake of the Isles, providing residents with exceptional access to walking and biking trails, parks, beaches, and year-round outdoor recreation.
The location also offers convenient access to major highways and interstates, making travel throughout Minneapolis and the greater Twin Cities metro quick and efficient. Nearby Uptown provides an exciting mix of restaurants, coffee shops, retail, entertainment, and nightlife, while the surrounding residential streets offer a more peaceful setting away from the bustle of the city.
With its combination of lakeside recreation, vibrant urban amenities, transportation access, and quiet neighborhood character, 2007 Aldrich Ave S is exceptionally positioned to appeal to residents seeking both convenience and quality of life.2007 Aldrich Ave S presents a compelling multifamily investment opportunity in Minneapolis’ highly desirable Lowry Hill East neighborhood. The property features exceptionally large two-bedroom units, offering a differentiated unit mix in one of South Minneapolis’ most established and sought-after rental markets. The asset benefits from its proximity to Uptown, the Chain of Lakes, major highways and interstates, and a wide variety of dining, retail, entertainment, and recreational amenities. With a strong location, oversized floor plans, and potential for continued rental growth, 2007 Aldrich Ave S offers investors an attractive opportunity to acquire a well-positioned South Minneapolis multifamily asset.
Highlights
- $133,745 trailing NOI 7.87% going-in cap rate
- $134,556 Year 1 Pro Forma NOI 7.92% cap rate
- 100% occupied with average in-place rents of approximately $1,457/unit
- 12 spacious 2-bedroom units averaging approximately 1,000 SF
- 9.33% Year 1 projected cash-on-cash return based on modeled financing
- Large-format floor plans
- Market rents of approximately $1,550/unit, providing potential for continued rental growth
- New roof installed in 2023
- Newer kitchen finishes
- Newer mechanical systems
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Contacts
Cody Smith
Kiser Group
Location
Located at 2007 Aldrich Ave S, Minneapolis, MN 55405, this property is part of the Lowry Hill neighborhood and Minneapolis St Paul market.
Contact Listing Broker
Cody Smith
Kiser Group