Michel Commercial is pleased to present the Barcelona Apartments,
a 71-unit apartment complex situated in Crystal, Minnesota. Built in
1972 and nestled amidst a picturesque tree-line and well-established
neighborhood, the Barcelona Apartments has a desirable unit mix (made
up of mostly one- and two- bedroom units) with spacious floor plans and
delightful screened-in porches. There are laundry facilities conveniently
located on each floor along with ample surface parking and covered
parking options (69 garage stalls).
Convenience is a hallmark of the Barcelona Apartments’ location.
Situated less than two miles from Cub Foods and a mere 2.5 miles from
Hy-Vee Grocery, residents can easily access their daily necessities.
Additionally, Bassett Creek Park is only a short five-minute drive away,
offering a tranquil retreat. The proximity of both Medicine Lake and
Theodore Wirth National Park, both within a ten-minute drive, provides
ample opportunities for outdoor activities and exploration. For those who
require access to major transportation routes, Barcelona Apartments
offers easy proximity to U.S. Route 169 and Minnesota State Highway
100. Moreover, the property is conveniently located ten miles from
downtown Minneapolis, ensuring a swift commute.
The Barcelona Apartments is a value-add investment opportunity and is
well-positioned for rental upside through interior upgrades. Many of the
neighboring properties have been renovated and are achieving rental
premiums of $200 to $300 per unit per month from those upgrades.
With its convenient location, scenic setting, and strong rental upside, this
property is an attractive investment opportunity with a stable resident
base that is proud to call the Barcelona Apartments “home.”