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Properties listed in Anoka

Michel Commercial is pleased to present this two-property portfolio in Anoka with a total of 25 units. These properties are within minutes of each other and feature a desirable unit mix of primarily two-bedroom units with many capital improvements including: granite countertops (about 8 units), LVP flooring (about 11 units), updated equipment, and updated roofs. The pride of ownership of the long-time owners is evident through the substantial investment of high quality materials that they have put into the properties in order to keep them in good working order. The city of Anoka provides the convenience and easy access to the many employment sectors of the Twin Cities by way of US Highway 10 and US Route 169. This suburb also has a variety of commuting options with two light rail lines and the Northstar commuter line. Residents of Anoka enjoy ample walking and biking paths, lively town centers, and strong community pride. These well-maintained properties have excellent current and historical occupancy as well as solid in-place income. This portfolio offers an immediate, naturally-occurring rent increase opportunity with rents well below the like-kind rent comparables. In addition, these properties are an ideal value-add investment opportunity with substantial rental growth potential through interior upgrades. Residents of these Anoka properties enjoy access to top employers, cultural amenities, green spaces, and more.
25
Under Contract
The Anoka/Champlin portfolio is comprised of ten properties with a total of 115 units. This portfolio features a desirable unit mix of primarily two-bedroom units with many capital improvements including: granite countertops (about 92 units), LVP flooring (about 29 units), updated equipment, updated roofs, updated windows, and newly poured concrete parking lots. The pride of ownership of the long-time owners is evident through the substantial investment of high quality materials that they have put into the properties in order to keep them is good working order. This portfolio is located in the neighboring, northern suburbs of Anoka and Champlin. These growing suburbs provide the convenience and easy access to the many employement sectors of the Twin Cities by way of US Highway 10 and US Route 169. These suburbs also have a variety of commuting options with two light rail lines and the Northstar commuter line. Residents of Anoka and Champlin enjoy ample walking and biking paths, lively town centers, and strong community pride. These well-maintained properties have excellent current and historical occupancy as well as solid in-place income. This portfolio offers an immediate, naturally-occuring rent increase opportunity with rents well below the like-kind rent comparables. In addition, these properties are an ideal value-add investment opportunity with substantial rental growth potential through interior upgrades. (The Anoka and Champlin suburbs have had similar-type properties, to this portfolio, successfully execute value-add strategies. These remodeled properties and units have been well-recieved in the market, proven by their strong rents and strong occupancy.) This Anoka/Champlin portfolio offers a unique opportunity to capture a large number of suburban apartment units within a few miles of each other in two growing cities that offer access to top employers, cultural amenities, green spaces, and more.
115

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