CHICAGO, IL - Robert Dulin, Executive Director and Managing Broker for Minnesota, and Cody Smith, Advisor, successfully brokered the sale of a fully renovated multifamily property in the Kingfield neighborhood of South Minneapolis for $4,550,000, equating to $156,897 per unit. The property was 100% occupied at closing, underscoring sustained tenant demand in one of the city’s most desirable submarkets.
The asset features a distinctive unit mix with spacious three-bedroom apartments, a key driver of buyer interest. These larger units support family-oriented tenancy and differentiate the property from many comparable vintage assets in the surrounding market.
Kingfield is a well-established neighborhood known for its proximity to Minneapolis’ lakes, major interstates, retail corridors, and prominent business hubs. Together, these location fundamentals contribute to consistently strong rental demand, making the area particularly attractive to long-term multifamily investors.
The transaction closed on December 19, 2025, achieving pricing at the upper end of the market for a vintage multifamily asset. The sale reflects the property’s fully renovated condition and thoughtfully designed unit configuration.
Market activity across South Minneapolis continues to gain momentum as equity returns and investors look to capitalize on a stabilizing environment. Well-located, renovated assets with strong occupancy and differentiated units remain especially well-positioned to command premium pricing.