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Multifamily

54-Townhome Portfolio of Saint Croix County

951 Quail Run, New Richmond, WI 54017

Listing Price: Request For Offer

Number of Units
54

Investment Overview

Marcus & Millichap is pleased to present this exclusive investment opportunity for an investor to acquire a multi-family investment portfolio comprised of Fifty-Four (54) townhomes located in New Richmond, Wisconsin and the neighboring, Roberts, Wisconsin. Each resident has an attached 2-car garage, green space, onsite postal boxes, off-street parking, covered front porch, and concrete pad behind their townhome. In addition, all residents have the convenience of being close to downtown. All townhomes are 3 Bedroom/2 Bathrooms and built Post 2010's. Modern interiors and quality builds. The two value-add opportunities in this investment is to reassign lawn/snow responsibility to the tenant and also, to continue pushing rents close to HUD's Fair Market Rent for 2024 in Saint Croix County of $2,188. Broker projection of increase in rent from current annual scheduled rent of $1,165,020 to $1,238,100 based on rent comparables and accelerated rent improvements in the area. New Richmond and Roberts are located in St. Croix County, as of recent years has been one of the fastest growing counties throughout the entire state of Wisconsin. What was once considered a farm town, both New Richmond and Roberts are now considered growing communities and an extension of the Minneapolis-Saint Paul MSA. The thriving communities are 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. The accelerated level of development in both communities is evident and out-of-state and out-of-area investors are moving capital into these communities, as a result of increase property values and improving NOl's. Approximately 40 miles from Minneapolis-Saint Paul.

Investment Highlights

  • All townhomes are 3 Bedroom/2 Bathrooms and built post 2010. The two value-add opportunities in this investment is to reassign lawn/snow responsibility to the tenant and increase rent to Fair Market.
  • HUD's Fair Market Rent for 2024 in Saint Croix County of $2,188. Broker projection of increase in rent from current annual scheduled rent of $1,165,020 to $1,238,100.
  • All 54 Townhomes in New Richmond/Roberts are on separate parcels located in St. Croix County, as of recent years has been one of the fastest growing counties throughout the entire state of Wisconsin.

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

54-Townhome Portfolio of Saint Croix County

Investment Highlights

  • All townhomes are 3 Bedroom/2 Bathrooms and built post 2010. The two value-add opportunities in this investment is to reassign lawn/snow responsibility to the tenant and increase rent to Fair Market.
  • HUD's Fair Market Rent for 2024 in Saint Croix County of $2,188. Broker projection of increase in rent from current annual scheduled rent of $1,165,020 to $1,238,100.
  • All 54 Townhomes in New Richmond/Roberts are on separate parcels located in St. Croix County, as of recent years has been one of the fastest growing counties throughout the entire state of Wisconsin.

Investment Overview

Marcus & Millichap is pleased to present this exclusive investment opportunity for an investor to acquire a multi-family investment portfolio comprised of Fifty-Four (54) townhomes located in New Richmond, Wisconsin and the neighboring, Roberts, Wisconsin. Each resident has an attached 2-car garage, green space, onsite postal boxes, off-street parking, covered front porch, and concrete pad behind their townhome. In addition, all residents have the convenience of being close to downtown. All townhomes are 3 Bedroom/2 Bathrooms and built Post 2010's. Modern interiors and quality builds. The two value-add opportunities in this investment is to reassign lawn/snow responsibility to the tenant and also, to continue pushing rents close to HUD's Fair Market Rent for 2024 in Saint Croix County of $2,188. Broker projection of increase in rent from current annual scheduled rent of $1,165,020 to $1,238,100 based on rent comparables and accelerated rent improvements in the area. New Richmond and Roberts are located in St. Croix County, as of recent years has been one of the fastest growing counties throughout the entire state of Wisconsin. What was once considered a farm town, both New Richmond and Roberts are now considered growing communities and an extension of the Minneapolis-Saint Paul MSA. The thriving communities are 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. The accelerated level of development in both communities is evident and out-of-state and out-of-area investors are moving capital into these communities, as a result of increase property values and improving NOl's. Approximately 40 miles from Minneapolis-Saint Paul.

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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