Updated May 12, 2025
Multifamily Investor Acquires Lakeville Court Apartments And Townhomes For $6.83M In Lakeville MN
20430 Dodd Boulevard
$6,830,000
Units
52
Asset Type
MultiFamily
Closing
May 2, 2025
About this deal
AI
The property asset involved in the transaction is a multifamily complex located at 20310-20430 Dodd Boulevard in Lakeville, MN. The sale occurred on May 2, 2025, and the property features a total of 52 units situated on 6.48 acres. The transaction was completed for a total price of $6,830,000, equating to $131,346 per unit.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,830,000
- Location: 20310-20430 Dodd Boulevard, Lakeville, MN
- Acres: 6.48
- Units: 52
- Price Per Unit: $131,346
- Broker: Heidi Addo - Michel Commercial
The transaction involved a multifamily investor who purchased the property, which is known as Lakeville Court Apartments and Townhomes. The buyer plans to renovate and reposition the 1996-built complex as the affordable housing restrictions are nearing expiration, aiming to capture long-term value from the investment.
Players
Lakeville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $131.3K per unit across 52 units on a published $6.8M (2025).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.32%
Cash-on-Cash
-0.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93