Investment Overview

Marcus & Millichap is proud to present this exclusive listing of the Star Prairie Portfolio, which is a Market Rate 10-Unit Portfolio, comprised of three multifamily investment buildings. While situated just within the Minneapolis-Saint Paul MSA, the residents in the Village of Star Prairie benefit from lower cost of living and the ability to commute from Highway 64 and I-94, into the Twin Cities (MN) or across the state of Wisconsin. With several other major byways in the area, including US Highway 65, US Highway 8, US Highway 63, the Village and surround communities see a high-volume traffic count of commuters and travelers alike, as a result of being located in the northwestern Wisconsin corridor. Star Prairie is approximately 25 minutes away from the City of Stillwater, MN and an even shorter drive to the neighboring City of New Richmond; therefore, in addition to the residents and travelers passing through, there’s a major freight rail line (owned by Canadian Nation) as well as the nearby New Richmond Intermodal & Automotive Facility and the New Richmond Regional Area Airport, creating ample commerce opportunities through the variety of means of transportation available to the general public and private businesses. Star Prairie is best known as the Village along the Apple River, home to the reputable Cedar Lake Speedway Racetrack, as well as an abundance of lakes. With Star Prairie being primarily an agricultural community, there’s a strong demand for rentals for the local workforce, as well as plenty of recreational opportunities for the typical outdoorsman, aside from your typical parks and wooded areas. The location has found it’s unique landmarks with the aforementioned race track, boating and fishing on nearby lakes such as Cedar Lake, as well as the constant flow of canoes and kayaks down the Apple River. These multifamily investment buildings were built in the late 1990’s. The portfolio is comprised of Eight (8) two-bedroom condominium-style units and two three-bedroom townhome-style units. With average rents below fair market, the ideal buyer will take over ownership and maximize value by increasing the rents, immediately. The property has been well-maintained and, in recent years, stabilized with capital improvements, allowing for a new owner to focus on bringing the rents to fair market. *NEIGHBORING VACANT LAND PARCEL INCLUDED IN SALE*