UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision Wangstads Brooklyn Terrace
MLS Listing ID 7081408
Year Built 2022
Annual Tax Amount $34,338
Tax Year 2026
Contingent None
Lot Size 1.510 Acres
Property Description
The property currently includes two completed triplex buildings that are newly constructed and positioned for immediate occupancy or lease-up. These completed units provide near-term income potential while also showcasing the quality, design standards, and functionality approved for the broader development. The existing improvements allow buyers to generate cash flow while simultaneously advancing the remaining phases of construction.
In addition to the completed buildings, the project includes full entitlements for five additional triplexes, significantly reducing both development timelines and entitlement-related uncertainty. All discretionary approvals have already been secured, eliminating one of the most time-consuming and unpredictable components of the development process. Buyers can move forward with confidence knowing the project has already achieved municipal approvals and is positioned for efficient execution.
The site has also undergone substantial horizontal development work, with all major infrastructure improvements completed. Roads, utilities, grading, drainage systems, and supporting site work are already in place, creating a true shovel-ready opportunity. By avoiding the delays and capital requirements often associated with early-stage infrastructure work, investors can focus directly on vertical construction and project delivery.
To further streamline execution, the seller will provide comprehensive architectural and engineering plan sets, including architectural drawings, civil engineering plans, and all supporting documentation associated with the approved development. This allows for a seamless transition to a new owner and provides the ability to accelerate building permit applications and construction commencement timelines.
The combination of completed product, fully approved expansion capacity, and finished site infrastructure creates a highly attractive investment profile with substantially reduced pre-development risk. Unlike many multifamily development opportunities that require years of planning, entitlement processing, and infrastructure coordination, this project is positioned for immediate continuation and rapid delivery of additional units to market.
The property is ideally suited for investors, developers, or owner-operators seeking a near-turnkey multifamily development opportunity in a strong and growing market. With immediate income potential from the completed triplexes and a clearly defined path to expansion, the project offers both short-term operational upside and long-term value creation. The ability to quickly move into vertical construction on the remaining buildings provides a significant competitive advantage in today's market environment, where entitlement delays and rising construction costs continue to impact project timelines.
This offering represents an exceptional opportunity to acquire a thoughtfully planned and substantially completed multifamily development with minimal entitlement risk, reduced execution uncertainty, and the infrastructure necessary to support efficient project completion.
Location
State MN
County Hennepin
Zoning Other
Rooms
Basement Daylight/Lookout Windows, Egress Window(s), Finished, Full, Single Tenant Access, Sump Pump, Tile Shower
Interior
Heating Forced Air
Cooling Central Air
Flooring Luxury Vinyl Plank
Inclusions Building, Land
Fireplace No
Appliance Chandelier, Dishwasher, Disposal, Dryer, Exhaust Fan, Range, Refrigerator, Stainless Steel Appliances, Washer
Exterior
Parking Features Paved Lot, Open
Fence Privacy
Pool None
Utilities Available Electric Separate, Heating Separate, Hot Water Separate
Roof Type Age 8 Years or Less,Asphalt
Present Use Residential
Building
Lot Description Public Transit (w/in 6 blks), Cleared, Corner Lot, Infill Lot
Story Three Or More
Foundation 1175
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Three Or More
New Construction true
Schools
School District Robbinsdale
Nearby School & Business
Get More Information