Gray Hawk Apartments

Gray Hawk Apartments is well-located along Homestead Road in Mankato, offering a quiet residential setting with convenient access to the city’s primary retail, employment, and transportation corridors. The property is just minutes from Highway 14 and Highway 169, providing easy connectivity throughout the region. Residents benefit from close proximity to everyday amenities including shopping, dining, and parks, as well as a short drive to Minnesota State University, Mankato, a major driver of rental demand in the area. The surrounding neighborhood is characterized by stable residential growth and strong occupancy fundamentals, making this location highly attractive for both tenants and investors.Gray Hawk Apartments is a 72-unit multifamily community offering investors a rare opportunity to acquire a well-maintained, high-occupancy asset in the strong Mankato rental market. The property features a desirable unit mix with consistent in-place cash flow and demonstrated occupancy near 99%, providing immediate income stability. Current rents remain below market in select unit types, presenting a clear path for continued revenue growth through strategic rent adjustments and operational efficiencies. With limited new supply and steady demand driven by nearby Minnesota State University, Mankato and the region’s diverse employment base, the property is well-positioned for long-term performance. Gray Hawk Apartments combines stable cash flow, identifiable upside, and a strong location—making it an attractive opportunity for both private and institutional investors seeking scale in Southern Minnesota.