Properties listed in Inver Grove Heights

Michel Commercial is pleased to present the Pearlwood Estates, a well-maintained, 240-home apartment community located in Inver Grove Heights, Minnesota, in Dakota County. The three-story property features spacious one-, two-, and three-bedroom apartment homes averaging 951 square feet, with in-unit washers and dryers in half of the homes, central air, walk-in closets, private patios or balconies (many oversized), vaulted ceilings in third-floor homes, and detached garage and surface parking. Residents also enjoy an extensive amenity package that includes indoor and outdoor swimming pools, a sauna and whirlpool, a fitness center, a community room, elevators, and recent capital improvements. Constructed in 1990 on expansive, beautifully maintained grounds, Pearlwood Estates has benefited from consistent ownership reinvestment and meticulous upkeep. Significant capital improvements, including newer roofs (2013), have positioned the property in excellent physical condition with limited near-term capital needs. Currently 99% occupied and achieving average in-place rents of $1,392 per month, Pearlwood Estates provides stable cash flow while offering meaningful upside through interior renovations. Interior renovations provide the opportunity to increase rents by an average of approximately $280 per apartment home, as demonstrated by comparable renovated properties in the area.

Michel Commercial is pleased to present South Grove Portfolio—a 51-home community across three properties, located in Inver Grove Heights, MN. South Grove is a well-kept community situated in a high demand suburban area. The property features one and two-bedroom homes with functional layouts with off-street parking. South Grove Portfolio offers a compelling investment opportunity backed by strong occupancy and stable in-place cash flow. With durable neighborhood appeal the property is well positioned as a stable, income-producing asset with long-term upside.