1409 Shakopee Avenue E, Shakopee, MN 55379

Property Description

1409 E Shakopee Ave is a rare opportunity to acquire a stable 10-unit apartment complex in the highly sought after city of Shakopee, MN. The unit mix is nine two-bedroom, one-bath and a unique three-bedroom, one-bath apartment. Long-term owners have kept this asset in perfect condition, with a historically low vacancy rate, and a zero accounts receivable record. The exterior features a classical well tuckpointed Chicago brick look with vinyl replacement windows new in 2016. Apartments are above average square feet compared to the market and have corridor kitchens, eat-in-dining areas, and spacious living rooms with large picture windows. Residents enjoy plenty of extra closet space within the units plus lower level additional storage lockers. Amenities to point out are the newer coin operated washers and dryers, secured keyless entrances for safety, super over-sized parking lot for residents and guests, and close to downtown main street Shakopee with many newer business’s and shoppes. Fully occupied with below market rents that can be raised organically over time in a non rent-controlled community. Newer hot water boiler (2022) and hot water heater (2023) are a bonus for a new owner!!