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Multifamily

New Richmond Condo Portfolio

1413 Doman Dr, New Richmond, WI 54017

Listing Price: Request For Offer

Number of Units
16

Investment Overview

Marcus & Millichap is pleased to present this exclusive investment opportunity for an investor to acquire four multi-family buildings comprised of a sixteen condominium portfolio located in New Richmond, Wisconsin (AKA the "City Beautiful"). Each resident has an attached garage, green space, onsite postal boxes, and have the convenience of being close to downtown. Unit Mix of Twelve 2 Bedroom/1.5 Bathroom Condominiums and Four 2 Bedroom/1 Bathroom Condominiums. Newer Siding, Newer Roofs, Renovated Condominiums, Recently Seal-Coated Driveways. The Value-Add Opportunity in this investment is to reassign lawn/snow responsibility to the tenant and continue pushing rents to HUD's Fair Market Rent for 2024 in Saint Croix County of $1,622.

New Richmond is one of the fastest growing communities in St. Croix County, which is one of the fastest growing counties throughout the entire state of Wisconsin. What was once considered a farm town, New Richmond is now considered a growing community and extension of the Minneapolis-Saint Paul MSA. The thriving community is home to many residents that take advantage of the affordable cost of living, the ease of travel to the Twin Cities metro for employment and events, as well as various recreational amenities that're local such as parks, rivers, and lakes.

Investment Highlights

  • Located in One of the Fastest Growing Counties (Percentage Wise Relative to Population Growth) in Wisconsin
  • The Value-Add Opportunity in this Investment is to Reassign Lawn/Snow Responsibility to the Tenant and Continue Pushing Rents to HUD's Fair Market Rent for 2024 in Saint Croix County of $1,622
  • Each Resident has an Attached Garage, Green Space, Onsite Postal Boxes, and have the Convenience of being Close to Downtown

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s) WI: 56163-90

    Wisconsin

Financing By

Multifamily

New Richmond Condo Portfolio

Investment Highlights

  • Located in One of the Fastest Growing Counties (Percentage Wise Relative to Population Growth) in Wisconsin
  • The Value-Add Opportunity in this Investment is to Reassign Lawn/Snow Responsibility to the Tenant and Continue Pushing Rents to HUD's Fair Market Rent for 2024 in Saint Croix County of $1,622
  • Each Resident has an Attached Garage, Green Space, Onsite Postal Boxes, and have the Convenience of being Close to Downtown

Investment Overview

Marcus & Millichap is pleased to present this exclusive investment opportunity for an investor to acquire four multi-family buildings comprised of a sixteen condominium portfolio located in New Richmond, Wisconsin (AKA the "City Beautiful"). Each resident has an attached garage, green space, onsite postal boxes, and have the convenience of being close to downtown. Unit Mix of Twelve 2 Bedroom/1.5 Bathroom Condominiums and Four 2 Bedroom/1 Bathroom Condominiums. Newer Siding, Newer Roofs, Renovated Condominiums, Recently Seal-Coated Driveways. The Value-Add Opportunity in this investment is to reassign lawn/snow responsibility to the tenant and continue pushing rents to HUD's Fair Market Rent for 2024 in Saint Croix County of $1,622. New Richmond is one of the fastest growing communities in St. Croix County, which is one of the fastest growing counties throughout the entire state of Wisconsin. What was once considered a farm town, New Richmond is now considered a growing community and extension of the Minneapolis-Saint Paul MSA. The thriving community is home to many residents that take advantage of the affordable cost of living, the ease of travel to the Twin Cities metro for employment and events, as well as various recreational amenities that're local such as parks, rivers, and lakes.

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s): WI: 56163-90

    Wisconsin

Financing By

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