Investment Overview

Marcus & Millichap is pleased to present Wheelock Parkway Apartments, a 103-unit apartment community located in the North End neighborhood of Saint Paul, Minnesota. Wheelock Parkway is being offered for sale on a free-and-clear basis. The North End is a historic urban neighborhood in Saint Paul, MN located north of the State Capitol and centered around Rice Street, one of Minnesota’s oldest streets. The reconstruction of Rice Street’s Revitalization Project is slated to begin in 2024 with an estimated completion in 2026. The neighborhood stretches from Larpenteur Ave to the north, Dale Street to the west, and Interstate 35E to the east. The North End has an urban-suburban mix with two nature preserves and multiple parks, making it easy to forget you are in a major city. Trout Brook Nature Sanctuary is roughly 42 acres and serves as a nature preserve in the heart of a heavily urbanized area. Residents have access to hiking/biking trails and picnic tables. Only three miles to the east one will enjoy an array of activities that come with Como Park Zoo, Conservatory, Regional Park, and Golf Course. Additionally, a very accessible shopping/retail corridor for tenants, including Rosedale Center (Mall) only 5 miles away. Constructed from 1965-1967, Wheelock Parkway’s five buildings sit on 2.61 acres and feature 44 one-bedroom/one-bathroom units at approximately 620/750 square feet and 59 two-bedroom/one-bathroom units at approximately 900 square feet. The apartments feature spacious living rooms and private balconies/patios. Community amenities include an outdoor pool, laundry facilities, playground, picnic areas, off-street parking, and a convenient walking/biking path bordering the property line.