Map pin2625 Stevens Ave, Minneapolis, MN 55408

Plymouth Avenue & Stevens House Apartments

Plymouth Avenue & Stevens House Apartments_Property for Sale

Attributes

Number of units
207 units
Occupancy
91%
Year built
1974
Year renovated
2017
Building area net
153,713 sf

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the General Partner interest in Plymouth Stevens House, LP. The Partnership is comprised of two properties (Plymouth Ave & Stevens House Apartments) totaling 207 units. The Properties are encumbered by the same LIHTC LURA and senior debt but separate Project Based Section 8 (HAP) Contracts. An Investor will benefit from the Properties’ convenient location near Downtown Minneapolis and from significant capital expenditures by the seller ($20,000,000+ since 2016)

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Investment Highlights

  • Partial HAP Contract Provides Stable Operations
  • Accretive & Assumable Existing Debt
  • Significant Capital Expenditure History
  • Proximity to Economic Drivers & Ease of Access
  • Premium Minneapolis Metro
Plymouth Avenue & Stevens House Apartments 4_Property for Sale
Plymouth Avenue & Stevens House Apartments 4_Property for Sale
Plymouth Avenue & Stevens House Apartments (0 Properties)

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Last updated
20 May 2024