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Majestic Cove

Majestic Cove

7472 157th St W  /

Majestic Cove

Property Details

Price:
Property Type Multifamily
Total Lot Size: 13.61
Year Built: 1993
Number of Units: 192
Garages: 192
County: Dakota

Description

Michel Commercial is pleased to present Majestic Cove, a well-maintained 192-home apartment community located in the heart of Apple Valley, Minnesota, in Dakota County. The three-story property features spacious one-, two-, and three-bedroom apartment homes averaging 1,020 square feet, with in-unit washers and dryers in most homes (60%), central air, walk-in closets, private patios or balconies (many oversized), vaulted ceilings in thirdfloor homes, and detached garage and surface parking. Residents also enjoy an extensive amenity package that includes indoor and outdoor swimming pools, a sauna and whirlpool, a fitness center, a community room, elevators, and recent capital improvements. Constructed in 1993 on beautifully landscaped grounds in the highly desirable Apple Valley submarket, Majestic Cove has benefited from consistent ownership reinvestment and meticulous upkeep. Currently 99% occupied with average in-place rents of $1,503 per month, Majestic Cove provides stable cash flow while offering meaningful upside through interior renovations. Interior renovations provide the opportunity to increase rents by an average of approximately $314 per apartment home, as demonstrated by comparable renovated properties in the area.

Location

Majestic Cove is ideally located in Apple Valley, an established Twin Cities suburb offering residents convenient access to major employment centers, shopping, dining, and MN-77. Supported by strong regional demographics, a diverse employment base, and limited new multifamily supply, the property is well positioned for long-term occupancy and continued rent growth. Combined with its spacious floor plans, extensive amenity package, and value-add potential, Majestic Cove offers investors the opportunity to acquire a stable suburban asset with durable cash flow and meaningful long-term upside.

Highlights

Strong Operational Performance
A first-time offering from the original owner and manager, Hayloft Property Management Company. Currently 99% occupied with average in-place rents of $1,503 per month, the property has benefited from continual reinvestment through significant capital improvements and extensive parking lot and concrete repairs.

Significant Value-Add Upside
Interior renovations have the potential to generate average rental premiums of around $314 per apartment home based on comparable renovated properties within the submarket.

Expansive, Amenity-Rich Community
Spacious homes average 1,020 square feet and feature in-unit laundry in 60% of homes, private balconies or patios, and vaulted ceilings in third-floor homes. Residents enjoy an extensive amenity package that includes indoor and outdoor swimming pools, a fitness center, community room, playground, sauna, whirlpool, and abundant detached garage and surface parking.

Attractive Twin Cities Market Fundamentals
Majestic Cove is located in the established Twin Cities suburb of Apple Valley within Dakota County, benefiting from a slow development pipeline, limited new multifamily supply, strong employment, and one of the nation’s most affordable major rental markets, supporting occupancy, rent growth, and long-term investment performance.

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