Multi-Family
Apartment Building Development Opportunity
Odanah Ave, New Richmond, WI 54017
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap is pleased to present this exclusive investment opportunity for an investor to acquire a multi-family development opportunity in one of the fastest growing (percentage-wise) counties in the state of Wisconsin. While approximately 40 miles from Minneapolis-Saint Paul, many locals commute to the Twin Cities for employment and entertainment while living in New Richmond for a more affordable cost of living. A representative from the City Council and Board of the New Richmond Housing Authority reported 140 prospective tenants on a wait list to get into the neighboring apartment complex, owned by the city, so there is a large need for housing in general, but specifically, for affordable housing. This building could be either market rate or affordable housing in a fast growing community. Owner is also the Listing Agent.
Apartment Building Development Opportunity
Investment Highlights
- This City Approved 34-Unit Apartment Building with Underground Parking Serves the Need for Housing in New Richmond, Wisconsin - Located in One of the Fastest Growing Counties in the State of Wisconsin
- Floor Plans for 1-Bedroom/1-Bathroom Apartments. St. Croix County Fair Market Rent for 2025 is $1,381, which Increased from $1,327 in 2024 and Increased from $1,149 in 2023.
- Near Local Hospital, Downtown, Grocery Store, Schools, Major Chains such as Wal-Mart, and Major Highway's
Exclusively Listed By
Broker of Record
-
Todd Lindblom
First Vice President/Regional Manager
Listing Price: Request For Offer
Investment Highlights
- This City Approved 34-Unit Apartment Building with Underground Parking Serves the Need for Housing in New Richmond, Wisconsin - Located in One of the Fastest Growing Counties in the State of Wisconsin
- Floor Plans for 1-Bedroom/1-Bathroom Apartments. St. Croix County Fair Market Rent for 2025 is $1,381, which Increased from $1,327 in 2024 and Increased from $1,149 in 2023.
- Near Local Hospital, Downtown, Grocery Store, Schools, Major Chains such as Wal-Mart, and Major Highway's
Investment Overview
Marcus & Millichap is pleased to present this exclusive investment opportunity for an investor to acquire a multi-family development opportunity in one of the fastest growing (percentage-wise) counties in the state of Wisconsin. While approximately 40 miles from Minneapolis-Saint Paul, many locals commute to the Twin Cities for employment and entertainment while living in New Richmond for a more affordable cost of living. A representative from the City Council and Board of the New Richmond Housing Authority reported 140 prospective tenants on a wait list to get into the neighboring apartment complex, owned by the city, so there is a large need for housing in general, but specifically, for affordable housing. This building could be either market rate or affordable housing in a fast growing community. Owner is also the Listing Agent.
Exclusively Listed By
Broker of Record
-
Todd Lindblom
First Vice President/Regional Manager
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