189-191 E 7th St

• 19-unit dormitory-style multifamily building
• Long-term, stable tenant base with below-market rents and upside potential
• Shared kitchen and common areas supporting efficient building operations
• Historic asset built in 1885 with strong character and neighborhood presence
• Owned and operated by same owner for ~40 years with consistent stewardship
• Recent capital improvements including new rubber roof (2022) and new boiler (2025)
• Interior and exterior surveillance cameras enhance tenant safety and provide efficient property oversight.
• Large main-level garage stall for off-street parking and/or storage
• Strong in-place performance with additional value-add through rent repositioning on month-to-month leases
• New Ownership Can Increase Revenue by Bringing Retail and Residential Units to Market and Implementing RUBS to Recover Utility Expenses and Enhance Cash Flow.
• Eligible for the 20% Federal Historic Rehabilitation Tax Credit and 20% Minnesota Historic Structure Rehabilitation Tax Credit, offering up to 40% of qualified rehabilitation costs in tax credit incentives.