7427 Penn Ave S, Minneapolis, MN 55423

Located in the desirable Southwest Richfield submarket, this property offers excellent access to I-494 and I-35W, just minutes from the Mall of America and MSP Airport. Surrounded by retail, dining, and employment, the asset benefits from strong, consistent renter demand. The 21-unit property features primarily efficient one-bedroom layouts (~650 SF) with naturally affordable rents around $999+, catering to a stable workforce tenant base. Built in the 1960s, the asset presents a clear value-add opportunity through interior upgrades and operational improvements. Major capital items—including roof, windows, and water heaters—have already been completed, reducing near-term risk. With owner-paid utilities, RUBS potential, on-site laundry income, and a low-rise design, the property offers operational efficiency and long-term, recession-resistant stability.

Discover the vibrant and growing community surrounding BestPenn Apartments in Richfield, MN. Located in the highly accessible Southwest Richfield submarket, this dynamic area offers an array of amenities and attractions to enhance the appeal of the property to prospective investors. Enjoy easy access to popular shopping destinations like the Mall of America, MSP airport, convenient transportation options, and a variety of dining and entertainment venues. With immediate access to I-494 & I-35W, residents can seamlessly connect to Minneapolis, Edina, and Bloomington. This tenant-demand-heavy corridor is driven by jobs, retail, and transit, adding to the desirability of this prime location for multifamily investment opportunities.