8311 Excelsior Boulevard,Hopkins, MN 55343
Hopkins, MN 55343
Description
Don’t miss this turnkey, fully leased seven-unit apartment building on Excelsior Blvd in Hopkins one of the most accessible and tenant-friendly corridors in the western suburbs. All seven units are one-bedrooms, which means consistent tenant profiles, straightforward management/maintenance, and no complex infrastructure to worry about. New boiler and newer driveway mean the major capital items are already done. This is a running operation, not a renovation project. The price per unit is in line with what buyers are currently paying for 2-4 unit buildings in Hopkins. Seven doors for the cost of four is a rare find in this market, and it makes this an ideal move for an investor rolling out of a duplex or single family investment property looking to scale without taking on a complex asset. Easy to self-manage, low maintenance unit mix, and a location that provides historically low to no vacancy. Excelsior Blvd puts tenants within walking distance of restaurants, grocery, retail, and Park Nicollet Methodist Hospital just over a mile away. 494 corridor is also minutes away, which covers both commuters and anyone who prefers to get around without a car. Tenants have what they need close by, and that shows up in retention.
Details
| MLS # | 7039259 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1958 |
| Days On Site | 143 |
| Listing Provided By | RE/MAX Results | Philip Walter Cameron |
Features
| SQ Feet | 5,880 |
|---|---|
| Basement | Y |
| Units | 7 |
| Zoning | Residential-Multi-Family |
| Acreage | 0.20 |
Interior
| Cooling | Window Unit(s) |
|---|---|
| Heating | Baseboard, Hot Water |
| Appliances | Range, Refrigerator |
Exterior
| Roof | Flat |
|---|---|
| Lot Features | Tree Coverage - Medium |
Parking
| Parking Features | Gravel, Open |
|---|
Utilities
| Utilities | Electric Separate |
|---|
Taxes
| Property | 11680 |
|---|
Area Information
| State | MN |
|---|---|
| County | Hennepin |
| City | Hopkins |
| Zip Code | 55343 |
| School District | 270 |
| High School | Hopkins |
| Listing VS Median (in 55343) | |
Price: $875,000 low | high Med: $315,000 sqft: 5,880 low | high Med: 1,090 $ / sqft: $149 low | high Med: $311 On site: 143 low | high Med: 90.5 | |
Market Activity 55343
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Listings courtesy of Northstar MLS as distributed by MLS GRID.
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Learn More About This Property
| State | MN |
|---|---|
| County | Hennepin |
| City | Hopkins |
| Zip Code | 55343 |
| School District | 270 |
| High School | Hopkins |
| Listing VS Median (in 55343) | |
Price: $875,000 low | high Med: $315,000 sqft: 5,880 low | high Med: 1,090 $ / sqft: $149 low | high Med: $311 On site: 143 low | high Med: 90.5 | |