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Hatch Brokered by Real

| Hatch Brokered by Real | Real Brokerage LLC | PLACE

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7444 Cedar Ave S , Richfield, MN 55423
$2,650,000
Est. Payment: $13,691.15/mo
0 Bed
0 Bath
21840 Sqft
Status: Active | Days on site: 237
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27376 - 506069385
By proceeding and clicking the sign up button, you consent to receive calls and texts (SMS/MMS) including marketing and promotional communications, from Hatch Brokered by Real, its affiliates, and agents or vendors acting on their behalf. These communications may be delivered using an automatic telephone dialing system or by using an artificial or prerecorded voice. Message and data rates may apply. To opt out of text messages, reply STOP. Your consent is not required as a condition of any purchase. By continuing, you also agree to our Terms of Use and Privacy Policy.
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House Description

Introducing a unique investment opportunity in the heart of Richfield, Minnesota! This expansive property located at 7444 Cedar Ave boasts a total of 23 units with a combined square footage of 21,840, making it an ideal investment for those looking to expand their apartment rental portfolio. The asset sits on over 0.88 acres, on a bus route, and close to the Mall of America! Prime for a re-development opportunity! Built in 1966, this very well-maintained building features a mix of 18 spacious two-bedroom units and 5 cozy one-bedroom units, providing a variety of options for potential renters. Additionally, the property includes 10 detached garages, ensuring that tenants have ample space to park their vehicles. The exterior of the property is well-maintained and features a classic brick façade, while the interior of the units are spacious and have updated appliances. The property is conveniently located near major transportation routes, making it easy for tenants to commute to work or enjoy all that Richfield has to offer. Investors looking for a turn-key property with strong cash flow potential will appreciate the low maintenance costs and high rental demand in the area. Don't miss out on this rare opportunity to own a property that is fully occupied and turn-key in a non-rent controlled city on Minnesota! The brick exterior façade makes this property shine. There are many updates in recent years including the front and rear entryways, security cameras, newer vinyl windows (2014), brand new commercial grade water heater replaced in 2023, and a newer roof on both the building and garages replaced in 2014. In 2025 all the electrical panels were swapped out with new breakers making this asset easier to insure. PROPERTY FACTS Year Built: 1966 Square Footage: 21,840 Units: 23 Zoning: Multiple-family District Parking: 10 Garage Stalls plus plenty of off street parking Exterior: Brick Heating: Boiler Roof: Flat - New installed by All Elements, Inc. in 2014 UNIT DESCRIPTION 18 - 2 bedroom, 1 bath - Approx. 910+ Sqft. 5 - 1 bedroom, 1 bath - Approx. 750+ Sqft PROPERTY IMPROVEMENTS 2025: New Electrical Panels with Circuit Breakers 2023: New Commercial High-Efficiency Water Heater built by Bock. 2018: New Carpet in Hallways, Common Areas, Entry Way 2014: Roof - Durolast by All Elements, Inc. with 15 year warranty 2013: Windows - Installed vinyl replacement sliders by Window World, Inc.
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Highlights

Listed by Nathan P. Opatz , 651-263-3653 Apartment Cash Flow, Inc. , 651-263-3653. Minneapolis/St. Paul and St. Cloud - Northstar MLS

Property Type

Commercial Sale
Lot/Acreage
0.89

Year Built

1966

County

Hennepin

 School District

Richfield

Listing ID

7007394

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Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:0
  • ▪ Bathrooms:0
  • ▪ Full Bathrooms:
Appliances:Range, Refrigerator
Air Cond:Wall Unit(s)
Fireplaces:
Basement:Finished,Full,Storage/Locker
Water:City Water/Connected

Exterior Features

Lot:Tree Coverage - Light,Vinyl
Lot Dimensions:150 x 250
Zoning:Residential-Multi-Family
Roof:Age Over 8 Years,Flat,Rubber
Sewer:City Sewer/Connected
Parking Features:Parking Lot
Principal Interest
$13,691
Taxes
$3,923

Home Price

$2,650,000

Loan Details

30 yrs
6.708%

Down Payment

20%
$530,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$13,691.15

Principal

Taxes

Principal Taxes HOA Total
Monthly $13,691.15 $3,922.75 $0.00 $17,613.90
Yearly $164,293.74 $47,073.00 $0.00 $211,366.74
Total $4,928,812.20 $1,412,190.00 $0.00 $6,341,002.20
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Will Provost
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Market insight data is pulled from the same city as the listing being viewed (Richfield, MN).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

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Data last updated: 2026-09-06T08:58:07.000Z

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