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Multifamily Tax Credit

Kestrel Pine Townhomes

906 26th St NW, Bemidji, MN 56601

Listing Price: $1,700,000

Cap Rate
6.89%
Number of Units
30
Price/Unit
$56,667

Investment Overview

Marcus & Millichap is pleased to announce the exclusive listing of Kestrel Pine Townhomes, a 30-unit Section 42 Low Income Housing Tax Credit (LIHTC) Townhome community located in Bemidji, Minnesota. The property is being offered for sale on a free-and-clear basis. Constructed in 2005, Kestrel Pine Townhomes sit on 3.25 total acres and features 17 two-bedroom/1.5-bathroom units at 1,287 square feet and 13 three-bedroom/1.5-bathroom units at 1,309 square feet. The property includes 30 garage spaces, ample off-street parking, and private patios. All units include washers and dryers. Located one mile away from Lake Bemidji, residents at Kestrel Pine Townhomes can take advantage of walking to the lake and to the many stores, restaurants, and businesses nearby. Less than one mile away sits Honda of Bemidji (0.6 miles), Paul Bunyan Mall (0.8 miles), and Security Bank USA (0.8 miles). Less than two miles away sits Cameron Park (1.1 miles), Bemidji State University (1.1 miles), and Bemidji City Park (1.1 miles). The city of Bemidji, located in northern Minnesota, is the county seat of Beltrami County and is home to Bemidji State University, Lake Bemidji, and an estimated 20,000 people. Known as ‘The First City’ on the Mississippi River, Bemidji has a historical charm and is the largest commercial center between Grand Forks, North Dakota and Duluth, Minnesota. Bemidji State University serves more than 5,000 students and is a member of the Minnesota State System. The largest programs at BSU are business, nursing, education, science, and criminal justice to name a few. Whether it be ice fishing on Lake Bemidji or giving the legendary lumberjack Paul Bunyan and Babe the Ox a visit at their historical statues, this Northwoods city will always give its residents something to do year-round.

Investment Highlights

  • Less than 1 Mile from Lake Bemidji and Paul Bunyan Mall
  • In-Unit Washers and Dryers | Full Kitchen Appliance Package
  • Cash on Cash Return 9.36%

Exclusively Listed By

Multifamily Tax Credit

Kestrel Pine Townhomes

Listing Price: $1,700,000

Cap Rate
6.89%
Number of Units
30
Price/Unit
$56,667

Investment Highlights

  • Less than 1 Mile from Lake Bemidji and Paul Bunyan Mall
  • In-Unit Washers and Dryers | Full Kitchen Appliance Package
  • Cash on Cash Return 9.36%

Investment Overview

Marcus & Millichap is pleased to announce the exclusive listing of Kestrel Pine Townhomes, a 30-unit Section 42 Low Income Housing Tax Credit (LIHTC) Townhome community located in Bemidji, Minnesota. The property is being offered for sale on a free-and-clear basis. Constructed in 2005, Kestrel Pine Townhomes sit on 3.25 total acres and features 17 two-bedroom/1.5-bathroom units at 1,287 square feet and 13 three-bedroom/1.5-bathroom units at 1,309 square feet. The property includes 30 garage spaces, ample off-street parking, and private patios. All units include washers and dryers. Located one mile away from Lake Bemidji, residents at Kestrel Pine Townhomes can take advantage of walking to the lake and to the many stores, restaurants, and businesses nearby. Less than one mile away sits Honda of Bemidji (0.6 miles), Paul Bunyan Mall (0.8 miles), and Security Bank USA (0.8 miles). Less than two miles away sits Cameron Park (1.1 miles), Bemidji State University (1.1 miles), and Bemidji City Park (1.1 miles). The city of Bemidji, located in northern Minnesota, is the county seat of Beltrami County and is home to Bemidji State University, Lake Bemidji, and an estimated 20,000 people. Known as ‘The First City’ on the Mississippi River, Bemidji has a historical charm and is the largest commercial center between Grand Forks, North Dakota and Duluth, Minnesota. Bemidji State University serves more than 5,000 students and is a member of the Minnesota State System. The largest programs at BSU are business, nursing, education, science, and criminal justice to name a few. Whether it be ice fishing on Lake Bemidji or giving the legendary lumberjack Paul Bunyan and Babe the Ox a visit at their historical statues, this Northwoods city will always give its residents something to do year-round.

Exclusively Listed By

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