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Michel Commercial is pleased to present the Ventura Flats, a 74- unit, market-rate apartment complex situated in Minneapolis’s Ventura Village neighborhood. Built in 1967, this property features 18 studios and 56 one-bedroom units, with a history of strong occupancy. The Ventura Flats also has on-site laundry facilities as well as surface parking. Ventura Village, nestled in the heart of Minneapolis, is a vibrant neighborhood known for its cultural richness and community spirit. Its central location provides easy access to downtown amenities, public transportation, and a plethora of cultural and recreational opportunities. Residents benefit from active community organizations and initiatives aimed at fostering a sense of belonging and improving the overall quality of life. With its rich tapestry of cultures, bustling streets, and welcoming atmosphere, Ventura Village embodies the dynamic spirit of Minneapolis living. The Ventura Flats offers a compelling investment opportunity, boasting attractive, assumable debt at 4.58% until 2028. With a mission-driven approach, the long-term owners have intentionally maintained exceptionally low rents to ensure naturally occurring affordable housing for residents. We anticipate that the next owners can capitalize on significant rent increases simply by adjusting them to market rates and/or by permitting Section 8 vouchers. Additionally, leveraging the 4D tax program can substantially reduce the property’s tax liability. Situated conveniently with easy access to highways and urban amenities, the Ventura Flats stands as an attractive investment prospect.
$ 32,500,000
The Calhoun Towers Apartments are a 21 story high rise near Lake Calhoun with 108 units. The property has underground parking, a fitness center, a community room, elevators and balconies.
159,159.00 ft2

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