1409 Shakopee Avenue E, Shakopee, MN 55379 (MLS# 6766095)
$1,549,000
Shakopee, MN 55379
MLS# 6766095
Status: Closed
21 beds | 10 baths
1 / 22
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 businessâs 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!!
Details
Maps
Documents
Contract Information
Status: Closed
Off Market Date: 2025-08-28
Current Price: 1565000
Closed Date: 2025-10-04
Sales Close Price: 1565000
Contingency: None
ListPrice: 1549000
List Date: 2025-08-02
Owner is an Agent?: No
Auction?: No
General Property Information
Lot Measurement: Acres
Management Company Name: Self-Managed
Multiple PIDs?: No
Other Parking Spaces: 20
Owner Occupied: No
Waterfront Present: No
Year Built: 1970
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Bedrooms: 21
Baths Total: 10
Foundation Size: 4084
For Sale or Lease: For Sale
Acres: 0.69
Lot Dimensions: Irregular
Location Tax and Other Information
House Number: 1409
Street Name: Shakopee
Street Suffix: Avenue
Street Direction Suffix: E
Postal City: Shakopee
County: Scott
State: MN
Zip Code: 55379
Complex/Dev/Subdivision: Hesses 1st Add
Assessments
Tax With Assessments: 15402
Building Information
Building Finished SqFt: 12252
Building SqFt: 12252
Ceiling Height: 8-10
Income and Expenses
Annual Caretaker Expense: 6000
Annual Electric Expense: 1000
Annual Fuel Expense: 4244
Annual Gross Expenses: 48577
Annual Gross Income: 164883
Annual Insurance Expense: 6000
Annual Net Income: 116306
Annual Repair Expense: 3000
Annual Trash Expense: 3081
Annual Water/Sewer Expense: 5500
Total Annual Expenses: 48577
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
Homestead: No
Ownership
Fractional Ownership: No
Sale Options
Sale Includes: Building, Land, Leases
Unit 1
Unit Number: 1
Monthly Rent: 1350
Full Baths: 1
Total Bathrooms: 1
Total Bedrooms: 2
Total Rooms: 6
Level: 2nd Level
Unit Total SqFt: 760
Leased?: Yes
Lease Expiration Date: 2026-06-30
Unit 10
Full Baths: 1
Lease Expiration Date: 2026-06-30
Leased?: Yes
Level: Below Ground
Monthly Rent: 1525
Total Bathrooms: 1
Total Bedrooms: 3
Total Rooms: 7
Unit Number: 10
Unit Total SqFt: 950
Unit 2
No. of 2 Bedroom Units: 9
Full Baths: 1
Lease Expiration Date: 2026-06-30
Leased?: Yes
Level: 2nd Level
Monthly Rent: 1325
Total Bathrooms: 1
Total Bedrooms: 2
Total Rooms: 6
Unit Number: 2
Unit Total SqFt: 760
Unit 3
No. of 3 Bedroom Units: 1
Full Baths: 1
Lease Expiration Date: 2026-06-30
Leased?: Yes
Level: 2nd Level
Monthly Rent: 1325
Total Bathrooms: 1
Total Bedrooms: 2
Total Rooms: 6
Unit Number: 3
Unit Total SqFt: 760
Unit 4
Full Baths: 1
Lease Expiration Date: 2026-06-30
Leased?: Yes
Level: 2nd Level
Monthly Rent: 1325
Total Bathrooms: 1
Total Bedrooms: 2
Total Rooms: 6
Unit Number: 4
Unit Total SqFt: 760
Unit 5
Full Baths: 1
Lease Expiration Date: 2026-06-30
Leased?: Yes
Level: Main Level
Monthly Rent: 1325
Total Bathrooms: 1
Total Bedrooms: 2
Total Rooms: 6
Unit Number: 5
Unit Total SqFt: 760
Unit 6
Full Baths: 1
Lease Expiration Date: 2026-06-30
Leased?: Yes
Level: Main Level
Monthly Rent: 1325
Total Bathrooms: 1
Total Bedrooms: 2
Total Rooms: 6
Unit Number: 6
Unit Total SqFt: 760
Unit 7
Full Baths: 1
Lease Expiration Date: 2026-06-30
Leased?: Yes
Level: Main Level
Monthly Rent: 1325
Total Bathrooms: 1
Total Bedrooms: 2
Total Rooms: 6
Unit Number: 7
Unit Total SqFt: 760
Unit 8
Full Baths: 1
Lease Expiration Date: 2026-06-30
Leased?: Yes
Level: Main Level
Monthly Rent: 1325
Total Bathrooms: 1
Total Bedrooms: 2
Total Rooms: 6
Unit Number: 8
Unit Total SqFt: 760
Unit 9
Full Baths: 1
Lease Expiration Date: 2026-06-30
Leased?: Yes
Level: Below Ground
Monthly Rent: 1325
Total Bathrooms: 1
Total Bedrooms: 2
Total Rooms: 6
Unit Number: 9
Unit Total SqFt: 760
Unit Details
Total Units: 10
Property Features
Accessible: None
Air Conditioning: Wall Unit(s)
Appliances: Range; Refrigerator
Assumable Loan: Not Assumable
Basement: Concrete Block; Full
CMU Style: Apartments/Multi Family
Construction Materials: Block; Brick; Frame
Construction Status: Previously Owned
Current Use: Residential
Exterior: Brick/Stone
Fencing: None
Financing Terms: Conventional
Flooring: Carpet; Tile; Vinyl/Linoleum
Foundation: Concrete Block
Fuel: Natural Gas
Heating: Boiler; Hot Water
Loan Terms: Cash; Conventional
Lock Box Type: None
Lot Description: Irregular Lot; Tree Coverage - Light
On Site Utilities: Electric Separate; Heating Common; Hot Water Common
Owner Pays: Fuel; Maintenance/Repair; Snow Removal; Taxes; Trash Collection; Water
Parking Characteristics: Parking Lot; Paved Lot
Rent Rate per Foot: Per Month
Rental License Type: Standard
Road Frontage: City Street
Road Responsibility: Public Maintained Road
Roof: Age Over 8 Years; Asphalt Shingles; Pitched
Sewer: City Sewer/Connected
Stories: Three Or More
Tenant Pays: Broadband; Electricity
Topography: Level
Wall Description: Drywall; Plaster
Water: City Water/Connected
Window Features: Double Pane Windows; Insulated Windows
1409 E Shakopee 10 units $1.55M. Listing Office: Apartment Cash Flow, Inc.
Last Updated: January - 27 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
Monday 1st of June 2026 12:36 PM
218-998-4400
Mohagen Real Estate
Let's Connect
Mohagen Real Estate
sue@MohagenRealEstate.com
Office: 218-998-4400
Cell: 218-731-7376
Mohagen Real Estate is licensed in the State of Minnesota