Park & Franklin Lofts
Modern 43-unit Multifamily
Marketing description
GJG Commercial-Real Broker presents Park & Franklin Lofts Apartments. An exceptional investment opportunity in south Minneapolis' emerging Ventura Village submarket. The newer built (2021) building offers the new ownership a combination of modern construction quality, stable cash flow, and substantial value-add potential in a rapidly developing urban corridor. With excellent transit connectivity via the Light Rail Blue Line, bike paths, and the bus line, it has proximity to all the area demand drivers of major employment centers. Most notably Abbott Northwestern Campus, Allina Health, Children’s Hospital, including St. Mary’s University and Minneapolis College Art & Design. The Asset is strategically positioned to capitalize on Minneapolis' continued growth and urban revitalization trends including the new street system along Franklin Avenue which is expected to be completed by 2027.
This prime property offers diverse unit configurations from contemporary studios to spacious three-bedroom residences. Strategically positioned in a high-demand submarket, the property capitalizes on Minneapolis's dynamic urban growth. Park & Franklin Lofts combines immediate return potential with long-term value enhancement opportunities, making it an exceptional gateway to one of the region's most promising real estate markets and an attractive addition to any investment portfolio.
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Investment highlights
Current NOI of $429,000 with pro-forma NOI of $585,084 (36% upside).
RUBS implementation could drive $64,644 of additional revenue.
Below-market rents provide 15-20% rent optimization upside across all un.
Debt coverage ratio improving from 1.35 to 1.84
2021 construction minimizes near-term capital requirements
Secure package delivery and garage parking.
Premium finishes including stainless steel appliances and hardwood flooring.
Stable 95% occupancy with expense ratio improving from 41.83% to 35.67%.
43-units across near perfect mix serving a broad tenant base:13x-Studios, 13x-1BR, 8x-2BR, and 9x-3BR
Strategic location & connectivity - Light Rail Blue Line access to downtown Minneapolis, airport, and Mall of America.
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