Michel Commercial Real Estate is pleased to present an exclusive listing for the sale of the Station Street Apartments (“Station Street” or the “Property”), a 108-unit apartment community located in Big Lake, MN. Station Street offers open concept living spaces and a wealth of community amenities, including: a fitness room, an outdoor pool, and a play area for children. The Station Street Apartments are located in Big Lake, an exurb of the Twin Cities. The Big Lake area is known for its beautiful parks, stunning lakes, and economic development opportunities. Big Lake is home to many young families who value a closeknit community as well as easy access to big-city amenities and employment options. Station Street is a three-minute walk from the Big Lake Train Station, where commuters can ride the Northstar Line to downtown Minneapolis in under an hour. The Property is half a mile from US Highway 10 and just ten minutes from Interstate 94. Big Lake is within commuting distance of the Twin Cities making it a desirable location for residents and the Big Lake market boasts higher rents than the state average year after year. In addition, the city has added over a thousand singlefamily and multi-family rental units since 2015 to accommodate growing demand for housing. The Station Street Apartments offer a desirable mix of studio, one, and two-bedroom units and has been a welcomed addition to the Big Lake community proven by the strong lease-up velocity. Station Street is a well-built, turn-key property located in a growing, family-friendly market with competitive rental rates and access to parks, highways, and employment sectors.
Michel Commercial Real Estate is pleased to present an exclusive listing for the sale of the Hillcrest Apartments, a 40-unit apartment community. Built in 1963, Hillcrest offers spacious floor plans, private entrances, wood-burning fireplaces, and modern kitchen appliances. Hillcrest is located in Columbia Heights, a historic, first-ring suburb of Minneapolis. Columbia Heights is home to popular restaurants, beautiful parks, and golf courses. Many residents enjoy the city’s small-town feel, big-city amenities, and easy access to downtown Minneapolis. Hillcrest is directly across the street from Columbia Heights High School and Highland Elementary School, a safe walking distance for many children. The city’s major commercial hub is less than a mile way, with everything from grocery stores and major brands to the iconic Heights Theater. The Property is less than two miles from the Interstate 694 entrance, which connects to Interstates 94 and 35W. University of Minnesota, University of Northwestern, and Bethel University are all located within 6.5 miles of Hillcrest as well. The Hillcrest Apartments is a value-add investment opportunity with strong in-place income and upside potential through interior and exterior upgrades. Hillcrest is a reliable property located in a family-friendly market with access to parks, highways, and employment sectors.
The Clearwater River Apartments is a 25-unit apartment property located in Clearwater, MN. Built in 1980, this property has a desirable unit mix with an all-brick exterior, onsite laundry facilities, and each unit has a private balcony or walkout patio. The city of Clearwater is located in the northern tip of Wright County and is also a part of Stearns County. It is settled between the Mississippi River and the Clearwater River with its two main thoroughfares being Interstate 94 and Minnesota State Highway 24. Being centrally located, just 12 miles south of St. Cloud and 54 miles northwest of Minneapolis, makes Clearwater a hub for many trucking and trucking related companies. Clearwater is also the home of a number of other businesses including T.O. Plastics, Tri-County Lumber, the Clearwater Travel Plaza, and many more. The Clearwater River Apartments is a value-add investment opportunity and is well positioned for accelerated rent growth through interior upgrades in the apartment units. This property has strong in-place income, strong occupancy, and many recent capital improvements including: a new hot water heater and a new security camera system. The Clearwater River Apartments offer investors a solid cash-flowing property and it provides its residents with a centrally-located, small-town community with easy access to major employers, outdoor spaces, and more.
Michel Commercial Real Estate was founded by Steve Michel in 1987 and is focused on selling multifamily housing. The firm has sold over $2,000,000,000 in apartment sales and is known for extensive regional & national marketing, strong relationships, and negotiation expertise. Recognized as a top dealmaker in the Midwest, Michel Commercial Real Estate represents both private and institutional investors and regularly receives the ‘Power Broker Award’ for being among the highest overall in apartment transaction volume in the Twin Cities multifamily market.