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BestPenn Apartments

BestPenn Apartments

7427-7435 Penn Ave S  /

Property Details

Property Type Multifamily
Total Lot Size: 0.67 Acres
Year Built: 1960
Number of Units: 21
Garages: 24
County: Hennepin


Michel Commercial is pleased to present the BestPenn Apartments, 21 apartment homes across two, neighboring properties. Located in the first-ring suburb of Richfield, these properties boast a history of strong occupancy and feature 20, one-bedroom units and 1, three-bedroom unit. Residents enjoy on-site laundry facilities and the convenience of surface parking. Centrally located in Richfield, the BestPenn Apartments are minutes from abundant shopping and dining options, including Target, the Southtown Mall, and the Mall of America. With easy access to major highways like Interstate 494 and Interstate 35W, commuting is hassle-free. In addition, nature lovers can relax in nearby parks like Veterans Memorial Park and Wood Lake Nature Center after a busy day. BestPenn is also minutes from the Minneapolis-St. Paul International Airport and only ten miles from Minneapolis. The BestPenn 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 significant rental premiums. With its convenient location and strong rental upside, this property is an attractive investment opportunity with a stable resident base that is proud to call the BestPenn Apartments “home.”


Located in Hennepin County, Richfield stands as a vibrant subruban gem within the Minneapolis-St. Paul metropolitan area. With its strategic position near major highways and the MSP Int’l Airport, Richfield boasts traveling convenience with suburban living. Richfield offers the perfect blend of suburban tranquility and urban convenience for the following reasons: Proximity to Minneapolis: Richfield’s close proximity to Minneapolis provides residents with easy access to the amenities and cultural offerings of a major metropolitan area. This includes employment opportunities, dining, shopping, entertainment, and cultural attractions. Quality Schools: Richfield is served by the Richfield Public School District, which includes several highly rated schools. The district is committed to providing quality education and innovative learning opportunities for students, making it an attractive option for families with children. Transportation: Richfield is well-connected to the greater Minneapolis-St. Paul area via major highways and public transportation options, including bus routes and light rail transit. This makes commuting to work or exploring the region convenient for residents. Convenient Amenities Richfield offers a wide range of amenities, including shopping centers, grocery stores, restaurants, and healthcare facilities, making it convenient for residents to access essential goods and services within the city. Parks and Recreation Richfield boasts numerous parks, green spaces, and recreational facilities where residents can enjoy outdoor activities such as walking, biking, picnicking, and sports. The city’s parks department also offers programs and events for people of all ages. Overall, living in Richfield offers a balanced blend of urban convenience, community engagement, and recreational opportunities, making it an attractive place to call home.


Turn Key Investment

• Value-add opportunity through interior upgrades
• RUBS Income

Premier Location

• Near Best Buy headquarters
• Walkable to dining, shopping, and entertainment
• Easy access to Interstate 35W and Interstate 494
• Minutes from the Mall of America
• Minutes from MSP Int’l Airport

Capital Improvements

• 9 units – bathrooms fully renovated, new floorings and paintings (2021)

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