![]() 621 Apartments represents a truly unique opportunity to acquire a very well maintained, Pride of Ownership type asset, from the family of the original developer.įor the first time in the building’s history, Marcus & Millichap, as exclusive listing agent, is pleased to present the opportunity to acquire 519 Apartments, a 12-unit apartment community located at 519 10th Avenue SE, in the high barrier to entry riverside neighborhood of Saint Anthony Main/ Marcy-Holmes, Minneapolis.ĥ19 Apartments is a charming apartment community located in the highly desirable and exclusive Saint Anthony Main/Marcy-Holmes neighborhood, which is widely considered to be one of the most sought-after neighborhoods in Minneapolis. The desirable Saint Anthony Main/Marcy-Holmes location of 621 Apartments ensures a high demand for the units in the competitive Minneapolis rental market, making it a valuable opportunity for those seeking a well-maintained property in a sought-after neighborhood. The property features a mix of one- and two-bedroom units, with average scheduled rents of $1,056. The building provides a serene and welcoming atmosphere that features remarkably favored off-street and covered parking.Ħ21 Apartments were built in 1963 and reside on a lot size of 0.33 acres. Ridgewood Apartments represents a truly unique opportunity to acquire a very well maintained, Pride of Ownership type asset, from the family of the original developer.įor the first time in the building’s history, Marcus & Millichap, as exclusive listing agent, is pleased to present the opportunity to acquire 621 Apartments, a 20-unit apartment community located at 621 5th Avenue SE, in the high barrier to entry riverside neighborhood of Saint Anthony Main/ Marcy-Holmes, Minneapolis.īordering central Minneapolis from the North-East side and only blocks away from the Stone Arch Bridge and the University of Minnesota, 621 Apartments benefit from a high-demand location, as evidenced by its high in-place rents and historically high occupancy rate. With an average current scheduled rent at $950 per unit, Ridgewood should be well insulated from new construction rent prices with plenty of room to increase to market level.įor an investor, Ridgewood Apartments offer a centrally located, high-quality asset in a neighborhood known for its charm and architecture. Additionally, Ridgewood Apartments offer highly sought-after off-street and garage parking, providing residents with a valuable commodity in a bustling city. ![]() The property was built in 1965 and sits on a lot size of 0.36 acres. Residents of Ridgewood Apartments also enjoy convenient access to major highways and public transportation, making it easy to explore other parts of the city. Within walking distance of the property are the gardens and tennis courts at Loring Park, The Minneapolis Institute of Art, and a plethora of high-quality local dining options. Residing just over a mile outside central Minneapolis, Ridgewood Apartments boast locality to all the entertainment and excitement that Minneapolis has to offer. This property is comprised of 37 apartments: 24 studios and 13 one-bedroom units. ![]() It is an asset worthy of protection, and sticking to the city's zoning code was the right thing to do.įor more on the proposed development, visit our 600 Main overview page.For the first time in the building’s history, Marcus & Millichap, as exclusive listing agent, is pleased to present the opportunity to acquire Ridgewood Apartments located in the historic Stevens Square Neighborhood. Millions of public dollars have gone into the 30-year renaissance that converted the industrial central riverfront into a system of parks, trails, and historic treasures, bustling with local residents and visitors. The Mississippi River is undeniably one of Minneapolis' greatest and most significant assets. The Planning Commission and city planning staff recommended denial of the project, as did numerous organizations including FMR, the National Park Service, Sierra Club, three downtown neighborhood associations and others. In truth, the City Council listened to the concerns of both sides, weighed the evidence, and came down on the side of supporting the river and the city's comprhensive plan. With no evidence but the conspiracy theory of a former city councilman, the suit alleges that City Councilmembers cut a back room deal to kill the project. The proposed development would put a 70-foot wall of apartments at the end of the bridge, where the cars are parked in this photo.Īs promised, Steve Minn and John Wall filed a lawsuit against the City of Minneapolis for denying the Stone Arch II proposal. The site in question is visually at the northern end of the Stone Arch Bridge.
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