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Springbrook Apartments

Springbrook Apartments

111 83rd Ave NE  /

Property Details

Price:
Property Type Multifamily
Total Lot Size: 20.6 Acres
Year Built: 1987
Number of Units: 361
Garages: 242
County: Anoka

Description

Michel Commercial Real Estate is pleased to present an exclusive listing for the sale of the SpringBrook Apartments, an expansive 361- unit apartment complex featuring 242 detached garage stalls and resort-style common areas. This rare offering is for sale for the first time. Built in 1987, the Property is a value-add investment opportunity and is well positioned for strong rental growth through interior upgrades. A portion of the units have been renovated and serve as a model for the rental growth potential.

Location

Conveniently located in Fridley, a “first ring” suburb of Minneapolis, the SpringBrook Apartments are bordered by the SpringBrook Nature Center as well as a strong commercial hub, with Target and Walmart within walking distance. The Property is situated in Anoka County, which is often considered a more landlord friendly county in comparison to the surrounding counties. SpringBrook is only a few blocks from Highway 47 which connects to Highway 610 to the north and Interstate 694 to the south, providing easy access and a short commute to downtown Minneapolis and St. Paul.

Highlights

  • Great Location
  • Well Maintained
  • Excellent Occupancy History
  • Brick/Steel Siding
  • 242 Detached Garage Stalls
  • Three-Story Above Ground Design
  • Pitched Roofs
  • Large Attractive Floor Plans
  • Air Conditioning
  • Dining Room
  • Cable Ready
  • Dishwasher and Microwave
  • Walk-In Closets
  • Basketball Courts and Volleyball Court
  • Clubhouse and Party Room
  • Free Laundry Facilities on Each Floor
  • Picnic Area with BBQ
  • Whirlpool and Sauna
  • 24/7 Package Kiosk Center
  • Indoor and Outdoor Pools
  • 24/7 Fitness Center
  • Billiard Room
  • Tennis Court and Sport Courts
  • Controlled Access Entries
  • Playground and Dog Parks
  • Patio/Balcony
  • 3rd Floor Vaulted Ceilings
  • Pet Friendly
  • Smoke Free Living

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