Skip to main content

Multifamily

Valley View Apartments

200 10th Ave E, Lamberton, MN 56152

Listing Price: $1,100,000

Cap Rate
6.69%
Number of Units
36
GRM
3.98
Occupancy
80.0%
Price/Unit
$30,556
Price/Gross SF
$46.60
Gross SF
23,603

Investment Overview

Marcus & Millichap is pleased to present Valley View Apartments, a 36-unit multifamily asset located in Lamberton, Minnesota. Valley View Apartments is being offered for sale on a free-and-clear basis.

Built in 1980, Valley View Apartments is a 30,000 square foot building that sits on a total of 1.15 acres. Current ownership has undergone extensive renovations and capital improvements over the last two years, investing roughly $400K. New owners will benefit from having one new boiler, one new water heater and new windows throughout. Additionally, most units have been renovated with new flooring and appliances.

Along with the unit renovations, current ownership has converted the bulk of the units into fully furnished apartments to accommodate shorter term leases. Lease lengths vary as many tenants are traveling nurses and construction workers. This model has allowed the owner to earn above market rates while maintaining high occupancy. All utilities are currently paid for by ownership, which includes cable/internet for tenants. Other community amenities include secured entry, shared laundry, storage units, large common area gathering spaces and common area kitchen and bathrooms.

The city of Lamberton, located in Redwood County, is about 40 miles west of New Ulm and 40 miles southeast of Marshall. Valley View Apartments are connected to Valley View Manor, the communitys healthcare facility and nursing home. These apartments were previously owned by the nursing home but is now parceled separately. The nursing home employs 75 people to provide full range lifestyle services for patients. Many tenants at Valley View Apartments are nurses referred to the owner, enabling the current owner to maintain low vacancy.

Valley View Apartments presents investors an opportunity to take advantage of historically low interest rates and acquire a uniquely positioned asset.

Investment Highlights

  • One of Two Boilers New 2021 | One of Two Water Heaters New 2017 | Roof Done 2012
  • Meticulously Maintained | Many Updates Throughout | Mostly Furnished Units
  • Opportunity to Bill Back Utilities to Longer Term Tenants
  • Ample Off-Street Parking | Shared Laundry | Storage Lockers | Secured Entry
  • Convenient for Valley View Manor Travel Nurses & Nearby Construction Workers

Exclusively Listed By

Financing By

Multifamily

Valley View Apartments

Listing Price: $1,100,000

Cap Rate
6.69%
Number of Units
36
GRM
3.98
Occupancy
80.0%
Price/Unit
$30,556
Price/Gross SF
$46.60
Gross SF
23,603

Investment Highlights

  • One of Two Boilers New 2021 | One of Two Water Heaters New 2017 | Roof Done 2012
  • Meticulously Maintained | Many Updates Throughout | Mostly Furnished Units
  • Opportunity to Bill Back Utilities to Longer Term Tenants
  • Ample Off-Street Parking | Shared Laundry | Storage Lockers | Secured Entry
  • Convenient for Valley View Manor Travel Nurses & Nearby Construction Workers

Investment Overview

Marcus & Millichap is pleased to present Valley View Apartments, a 36-unit multifamily asset located in Lamberton, Minnesota. Valley View Apartments is being offered for sale on a free-and-clear basis.

Built in 1980, Valley View Apartments is a 30,000 square foot building that sits on a total of 1.15 acres. Current ownership has undergone extensive renovations and capital improvements over the last two years, investing roughly $400K. New owners will benefit from having one new boiler, one new water heater and new windows throughout. Additionally, most units have been renovated with new flooring and appliances.

Along with the unit renovations, current ownership has converted the bulk of the units into fully furnished apartments to accommodate shorter term leases. Lease lengths vary as many tenants are traveling nurses and construction workers. This model has allowed the owner to earn above market rates while maintaining high occupancy. All utilities are currently paid for by ownership, which includes cable/internet for tenants. Other community amenities include secured entry, shared laundry, storage units, large common area gathering spaces and common area kitchen and bathrooms.

The city of Lamberton, located in Redwood County, is about 40 miles west of New Ulm and 40 miles southeast of Marshall. Valley View Apartments are connected to Valley View Manor, the communitys healthcare facility and nursing home. These apartments were previously owned by the nursing home but is now parceled separately. The nursing home employs 75 people to provide full range lifestyle services for patients. Many tenants at Valley View Apartments are nurses referred to the owner, enabling the current owner to maintain low vacancy.

Valley View Apartments presents investors an opportunity to take advantage of historically low interest rates and acquire a uniquely positioned asset.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower