Investment Overview

Marcus & Millichap is pleased to present Cityside Townhomes, a 50-unit Low Income Housing Tax Credit (LIHTC) townhome community located in Marshall, Minnesota. The property is being offered for sale on a free-and-clear basis. Constructed in 1997, Cityside Townhomes rest on five acres and features 12 two-bedroom/one-and-ahalf- bath townhome units at 960 square feet, 32 three-bedroom/one-and-a-half-bath townhome units at 1,150 square feet, and 6 four-bedroom/two-bathroom townhome units at 1,244 square feet. The homes feature private entrances, dishwashers, and large walk-in closets. The community amenities include off-street parking and detached garages, on-site professional maintenance, on-site laundry, and a playground. The owner is responsible for water/ sewer and refuse. Located on the southern side of the city, Cityside Townhomes is conveniently situated near parks, golf courses, schools, and restaurants. Less than one mile away sits Freedom Park (0.4 miles) and Marshall Golf Club (1.0 miles). Less than three miles away sits Marshall Middle School (1.6 miles), Brau Brothers Brewing Company (1.4 miles), and Hy-Vee Grocery Store (1.6 miles), to name a few. The city of Marshall, located in the southwestern part of Minnesota, is the county seat of Lyon County, headquarters of the Schwan Food Company, and home of Southwest Minnesota State University (SMSU). Lyon County comprises the Marshall, MN Micropolitan Statistical Area and has a population of roughly 25,000 residents. Geographically, the area has a variety of rivers and lakes, as well as many environmentally protected areas including Camden State Park. Southwest Minnesota State University, located in the northeastern side of the city, is a publicly funded liberal arts university which is home to roughly 8,700 students. The university offers a variety of bachelor’s degrees in accounting and related services, agricultural business management, education, health services, and business administration, to name a few. Graduate degrees and certificates are also offered in programs featuring education and business administration. Cityside Townhomes presents the opportunity to acquire a stable asset in the city of Marshall, Minnesota.