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The Hue

The Hue

33 4th St SW  /

The Hue

Property Details

Price:
Property Type Multifamily
Total Lot Size: .20
Year Built: 2020
Number of Units: 50
County: Olmsted

Description

Michel Commercial is pleased to present The Hue, a 50-home apartment community located in downtown Rochester with ground-floor retail and Minnwest Bank as the tenant. Built in 2020, the property offers investors the opportunity to acquire a modern asset featuring in-unit laundry, rooftop deck and fire pit, underground parking, and a highly walkable location, with nearby skyway access to the Mayo Clinic. The Hue is well-positioned to expand the number of furnished homes to serve traveling healthcare professionals and patients requiring extended stays. The property currently offers three furnished homes that achieve an average rental premium of 38.3% (or $577 more per month) than unfurnished homes at the property, demonstrating the strong demand and income potential associated with increasing the number of furnished homes.

Location

The Hue is ideally located, with nearby skyway access to the Mayo Clinic offering a highly desirable location for Mayo employees—including nurses, physicians, and medical residents—as well as long-term patients who require convenient access to ongoing treatment.

Highlights

Furnished Home Performance at The Hue
$2,083: AVERAGE FURNISHED RENT
38.3%: PREMIUM OVER UNFURNISHED HOMES
+$577/MONTH: ADDITIONAL MONTHLY RENT
3: FURNISHED HOMES CURRENTLY IN OPERATION

Furnished Housing Upside
The Hue currently offers three furnished homes that provide a compelling proof of concept for expanding furnished housing at the property. These three homes achieve an average monthly rent of $2,083, compared to $1,506 for the property’s unfurnished homes—representing a 38.3% rental premium, or $577 more per month.

Given Rochester’s consistent demand from traveling healthcare professionals, visiting faculty, and patients requiring extended stays at Mayo Clinic, a future owner has the opportunity to increase the number of furnished homes and capture additional rental income by building upon the success already demonstrated at The Hue.

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