The Nokoma 1920 3rd Ave S
19 Unit Block of Flats For Sale Minneapolis, MN 55404
INVESTMENT HIGHLIGHTS
- Operating as a low-income housing tax credit property until 2038
- Conveniently in downtown Minneapolis with direct access to both Interstate-94 and Interstate-35W
- 2008 and 2009 renovations included roof replacement, plumbing, windows, door hardware, and exterior tuck-pointing
- Located approximately 5.5 miles from The Minneapolis - Saint Paul International Airport
EXECUTIVE SUMMARY
Receivership Sale: The Nokoma is a 19-unit apartment building located at 1920 3rd Ave S in downtown Minneapolis. The building was originally constructed in 1915 and sits on one (1) parcel of land totaling 0.22-acres. The building was renovated in 2008 and 2009 and is operated as a low-income housing tax credit property until 2038. The building totals 18,088 square feet, of which 11,356 square feet is rentable. There are six (6) 1 Bedroom apartments which average 466 square feet, 12 1 Bedroom apartments which average 640 square feet and one (1) garden unit bedroom which is 880 square feet. The Property also includes a parking garage.
PROPERTY FACTS
| Sale Type | Investment |
| Sale Condition | Distress Sale |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.22 AC |
| Building Size | 18,088 SF |
| Average Occupancy | 99% |
| Number of Floors | 2 |
| Year Built | 1917 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 19 | - | - |
1 of 1
Walk Score®
Very Walkable (89)
Bike Score®
Very Bikeable (89)
ZONING
| Zoning Code | R1A |
CONTACTS
-
Matt Tarshis -
Andrew Rubin -
Zack Pearlstein -
Andrew Picchietti -
Andrew Slovis -
Frontline Real Estate Partners
