$8,200,000
401 University Avenue SE Minneapolis, MN 55414
For Sale MLS# 6634669
32,512 sq ft Commercial
Details for 401 University Avenue SE
MLS# 6634669
Description for 401 University Avenue SE, Minneapolis, MN, 55414
Archer Apartments is an upscale, modern 43-unit residential apartment building close to the UofM campus, downtown Minneapolis, and the popular St. Anthony Main neighborhood. This rare opportunity to bolster any residential and/or commercial portfolio with a turn-key property does not hit the market often. Operating as a fully residential community under professional management, Archer has achieved consistent occupancy performance of 95%+ since it's completion in 2018. Features and amenities include (39) 1-bedroom units, (4) studio units, (18) parking spots in heated first floor garage, a gym, a secure bike storage room, multiple shared community room spaces including a rooftop deck with built-in grill, an Amazon package locker and modern mail box system, elevator, and Butterfly entry technology system. As an A-Class property situated on a corner lot in NE Minneapolis, Archer is sure to impress investors and tenants alike with full kitchen suites, garbage disposals, and in-unit laundry for each apartment. Buyer and Buyer's agent to verify all measurements.
Listing Information
Property Type: Commercial, Apartments/Multi Family,High Rise (4+ Levels)
Status: Active
Bedrooms: 39
Bathrooms: 43
Lot Size: 0.25 Acres
Square Feet: 32,512 sq ft
Year Built: 2018
Foundation: 7,378 sq ft
Garage: Yes
Stories: Three Or More
Subdivision: Saint Anthony Falls
Number Of Units Total: 43
Current Use: Residential
County: Hennepin
Days On Market: 55
Construction Status: Previously Owned
School Information
District: 1 - Minneapolis
Interior Features
Appliances: Washer, Refrigerator, Stainless Steel Appliances, Gas Water Heater, Exhaust Fan/Hood, Dishwasher, Disposal, Dryer, Microwave, Range, Freezer
Flooring: Luxury Vinyl Plank
Basement: Poured Concrete
Doors/Windows: Screens, Insulated Windows, Window Treatments
Accessibility: Reduced Height Counters, Elevator, Wheelchair Ramp, Fully Wheelchair, Doors 36+
Additional Interior Features: Cable, Kitchen Center Island, Walk-In Closet, Washer/Dryer Hookup, Security System, Hardwood Floors, Indoor Sprinklers, Ceiling Fan(s), Exercise Room
Utilities
Water: City Water/Connected
Sewer: City Sewer/Connected
Other Utilities: Electric Common,Electric Separate,Heating Common,Heating Separate,Hot Water Common,Hot Water Separate
Cooling: Wall
Heating: Natural Gas, Forced Air
Exterior / Lot Features
Garage Spaces: 18
Parking Description: Garage Door Opener, Heated Garage, Insulated Garage, Electric, Covered, Assigned, Storage, Floor Drain, Secured, Underground Garage, Parking Garage
Exterior: Metal, Block, Aluminum Siding
Roof: Rubber, Age 8 Years or Less
Lot Dimensions: 66.00 x 165.00
Zoning: Residential-Multi-Family
Topography: Level
Additional Exterior/Lot Features: Balcony, City View, Corner Lot, Tree Coverage - Light, Public Transit (w/in 6 blks), Land Inclusions - Building,Land,Leases, Road Frontage - City
Community Features
Community Features: Other, Exercise Room, Amusement/Party Room, Community Room, Media Room
Unit Information
Unit 1 Actual Rent: 1412
Unit 1 Baths Total: 1
Unit 1 Beds Total: 1
Unit 1 Rooms Total: 3
Unit 2 Actual Rent: 1335
Unit 2 Baths Total: 1
Unit 2 Beds Total: 1
Unit 2 Rooms Total: 3
Unit 3 Actual Rent: 1465
Unit 3 Baths Total: 1
Unit 3 Beds Total: 1
Unit 3 Rooms Total: 4
Unit 4 Actual Rent: 1325
Unit 4 Baths Total: 1
Unit 4 Beds Total: 1
Unit 4 Rooms Total: 4
Unit 5 Actual Rent: 1475
Unit 5 Baths Total: 1
Unit 5 Beds Total: 1
Unit 5 Rooms Total: 4
Unit 6 Actual Rent: 1560
Unit 6 Baths Total: 1
Unit 6 Beds Total: 1
Unit 6 Rooms Total: 1
Driving Directions
From 35W, go East on SE 4th Street, then South on 4th Ave SE. Property on NE corner of 4th Ave SE & University Ave SE
Financial Considerations
Tenant Pays: Broadband,Cable T.V.,Electric,Insurance,Other
Owner Pays: Janitorial,Lawn,Maintenance/Repair,Sewer,Snow,Taxes,Trash,Water
Gross Income: 714926.02
Expense: 212717.25
Tax/Property ID: 2302924140086
Tax Amount: 116639
Tax Year: 2024
HomeStead Description: Non-Homesteaded
Price Changes
| Date | Price | Change |
|---|---|---|
| 11/25/2024 08.52 AM | $8,200,000 |
A broker reciprocity listing courtesy: Stepping Stone Brokers LLC
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Edina Realty, Inc. are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail and detailed information about them includes the name of the listing brokers. Edina Realty, Inc. is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Edina Realty, Inc., a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc. IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Open House information is subject to change without notice. Information deemed reliable but not guaranteed.
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Payment Calculator
Interest rate and annual percentage rate (APR) are based on current market conditions, are for informational purposes only, are subject to change without notice and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score and other variables. Estimated closing costs used in the APR calculation are assumed to be paid by the borrower at closing. If the closing costs are financed, the loan, APR and payment amounts will be higher. If the down payment is less than 20%, mortgage insurance may be required and could increase the monthly payment and APR. Contact us for details. Additional loan programs may be available. Accuracy is not guaranteed, and all products may not be available in all borrower's geographical areas and are based on their individual situation. This is not a credit decision or a commitment to lend.
Sales History & Tax Summary for 401 University Avenue SE
Sales History
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Tax Summary
| Tax Year | Estimated Market Value | Total Tax |
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Data powered by ATTOM Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
Schools
Schools nearby 401 University Avenue SE
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Data powered by ATTOM Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
The schools shown represent both the assigned schools and schools by distance based on local school and district attendance boundaries. Attendance boundaries change based on various factors and proximity does not guarantee enrollment eligibility. Please consult your real estate agent and/or the school district to confirm the schools this property is zoned to attend. Information is deemed reliable but not guaranteed.
SchoolDigger ® Rating
The SchoolDigger rating system is a 1-5 scale with 5 as the highest rating. SchoolDigger ranks schools based on test scores supplied by each state's Department of Education. They calculate an average standard score by normalizing and averaging each school's test scores across all tests and grades.
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