Cottages of Aspen Oakdale — Sale in Oakdale, MN

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Oakdale, MN 55128
  • Size: 99,600 SF
  • Year built: 1991

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Description

Jones Lang LaSalle (JLL) is pleased to present Cottages of Aspen, an exceptional 114-unit, age-restricted (55+), Section 42 community in the thriving Oakdale submarket. Constructed in 1991 and extensively renovated in 2008, this meticulously maintained asset spans 28 acres directly adjacent to the scenic 40-acre Richard Walton Park. The premier location provides residents an unparalleled living environment while offering convenient access to desirable retail destinations, including the popular Woodbury Lakes shopping district. This distinguished property is immediately eligible for tax credit re-syndication following acquisition. Limited turnover, extended tenant tenure, and consistently strong occupancy rates underscore the robust resident demand that defines this community. With interiors positioned for a strategic value-add approach, prospective investors will acquire a well-maintained asset with a clear path for enhanced returns and long-term growth. The investment offers a rare opportunity to acquire an asset with strong demand fundamentals, limited new supply in the submarket, and attractive Fannie Mae assumable financing. JLL is seeking qualified offers to purchase this community, with an anticipated closing date of Q4 2026.

Market Context

This multifamily in Oakdale, MN is listed for sale across 99,600 SF. The building dates to 1991. Compare it against other multifamily listings for sale in Oakdale, MN — view the full market.

As of Q1 2026, the Minneapolis multifamily market showed a 6.1% vacancy rate, and average asking rents near $1557.00/unit/mo. Source: multiple brokerage reports, Q1 2026.

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Is the Minneapolis multifamily market tightening or softening?
Vacancy is around 6.1% (Q1 2026).

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