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7444 Cedar Avenue S, Richfield, MN 55423
STATUS: Active
PROPERTY TYPE: Commercial - Business
SCHOOL: Richfield
Property Description
Introducing a unique investment opportunity in the heart of Richfield, Minnesota! This expansive property located at 7444 Cedar Ave boasts a total of 23 units with a combined square footage of 21,840, making it an ideal investment for those looking to expand their apartment rental portfolio. The asset sits on over 0.88 acres, on a bus route, and close to the Mall of America! Prime for a re-development opportunity!Built in 1966, this very well-maintained building features a mix of 18 spacious two-bedroom units and 5 cozy one-bedroom units, providing a variety of options for potential renters. Additionally, the property includes 10 detached garages, ensuring that tenants have ample space to park their vehicles.The exterior of the property is well-maintained and features a classic brick façade, while the interior of the units are spacious and have updated appliances. The property is conveniently located near major transportation routes, making it easy for tenants to commute to work or enjoy all that Richfield has to offer.Investors looking for a turn-key property with strong cash flow potential will appreciate the low maintenance costs and high rental demand in the area. Don't miss out on this rare opportunity to own a property that is fully occupied and turn-key in a non-rent controlled city on Minnesota!The brick exterior façade makes this property shine. There are many updates in recent years including the front and rear entryways, security cameras, newer vinyl windows (2014), brand new commercial grade water heater replaced in 2023, and a newer roof on both the building and garages replaced in 2014. In 2025 all the electrical panels were swapped out with new breakers making this asset easier to insure.PROPERTY FACTSYear Built: 1966Square Footage: 21,840Units: 23Zoning: Multiple-family DistrictParking: 10 Garage Stalls plus plenty of off street parkingExterior: BrickHeating: BoilerRoof: Flat - New installed by All Elements, Inc. in 2014UNIT DESCRIPTION18 - 2 bedroom, 1 bath - Approx. 910+ Sqft.5 - 1 bedroom, 1 bath - Approx. 750+ SqftPROPERTY IMPROVEMENTS2025: New Electrical Panels with Circuit Breakers2023: New Commercial High-Efficiency Water Heater built by Bock.2018: New Carpet in Hallways, Common Areas, Entry Way2014: Roof - Durolast by All Elements, Inc. with 15 year warranty2013: Windows - Installed vinyl replacement sliders by Window World, Inc.PRICE: $2,875,000 Information is deemed reliable but not guaranteed. Buyer and Buyer's agent to verify all details.
Property Features
Property Type: Commercial - Business Basement: Yes Cooling: Wall Unit(s) Fuel Type: Natural Gas Garage: 10 Heating: Boiler, Hot Water Lot Size: 0.89 Acres Roof Type: Age Over 8 Years, Flat, Rubber Stories: 3.0 Taxes: $47,073 Year Built: 1966
Feature Descriptions
Appliances: Range, Refrigerator
Basement: Finished, Full, Storage/Locker
Current Use: Residential
Days on Site: 97
Exterior: Block, Frame
Foundation Size: 7000
Lot: Tree Coverage - Light
Lot Dimensions: 150 x 250
Owners Expense: Repairs, Snow Removal, Taxes, Trash Collection, Water
Parcel#: 3502824410002
Parking: Parking Lot
Road Frontage: City Street, Paved Streets
Sale Includes: Building, Land, Leases, Rental License
Sewer: City Sewer/Connected
Tenant Expenses: Broadband, Cable TV, Electricity
Units: 23
Utilities: Electric Separate, Heating Common, Hot Water Common
Water: City Water/Connected
Local Schools
School District: Richfield
Listed By / Shown By
Agency Name: Apartment Cash Flow, Inc.
Agency Phone: 651-263-3653
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 04/19/2026. The listing information on this page last changed on 04/19/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Sun 04/19/2026 5:43:33 AM EST) or RMLS-MN MLS (last updated Sun 04/19/2026 12:02:29 AM EST). Real estate listings held by brokerage firms other than Counselor Realty may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.
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7444 Cedar Avenue S | MLS# 7007394
This commercial property located at 7444 Cedar Avenue S, Richfield, MN 55423 is currently listed for sale with an asking price of $2,875,000. Cedar Avenue S is located within the Richfield school district. Search Richfield real estate on scarlson.counselorrealty.com today.