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Under Contract
Michel Commercial is pleased to present the Champlin portfolio. This portfolio is comprised of two, 12-unit properties for a total of 24 units. This portfolio features a desirable unit mix of primarily two-bedroom units with many capital improvements including: granite countertops (17 units), LVP flooring (5 units), updated equipment, updated roofs, updated windows, and a newly poured concrete parking lot. 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. This portfolio is located in Champlin, MN within Hennepin County. This growing suburb 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. Residents of 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-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. This Champlin portfolio offers a unique opportunity to acquire long-held properties in a growing city that offers access to top employers, cultural amenities, green spaces, and more.
24
Under Contract
The Anoka 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 in 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 employment 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-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. (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-received 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
Michel Commercial is pleased to present the Elmwood Properties. This portfolio is a rare offering of 79 units (169 beds) in the Southeast Como neighborhoods, just four blocks away from the University of Minnesota’s East Bank campus. The Elmwood residences have long been an attractive and economical housing option for University of Minnesota students. These properties offer a range of one to five-bedroom units, with fully equipped kitchens, in-unit and on-site laundry facilities, as well as free parking. The Elmwood residences are private, secure, and removed from the congestion and noise of the University’s dorms. All of the properties across this portfolio have strong current and historical occupancy and are "turn-key" with some value add upside potential. The University of Minnesota is just fifteen minutes away on foot or by bike, and residents can catch the Metro Transit bus on the corner for a ride anywhere on campus. The properties are close to convenience and grocery stores, and a number of small businesses, including coffee shops, bars, restaurants, a barber, a dentist, gas stations, and more. The exciting neighborhood of Dinkytown is just minutes away, and downtown Minneapolis is right across the river, offering residents easy access to unique dining options, nightlife, university sports, and more. The Elmwood Apartments present a unique opportunity to own a large number of units in close proximity to the University of Minnesota. These properties can be sold altogether or individually.
79
Michel Commercial Real Estate is pleased to present an exclusive listing for Oak Hill Estates (“Oak Hill Estates” or the “Property”), a 36-unit, three-building apartment complex located in Sartell, Minnesota. Built in 1977, this property is comprised of: (36) two-bedroom units that vary in size and style. Each unit has a self-cleaning oven, dishwasher, microwave and a refrigerator. There are laundry facilities on-site as well as 33 garages. The Oak Hill Estates are conveniently located, residents enjoy access to downtown St. Cloud, the Mississippi River, Sam’s Club, local universities, golf courses, businesses, parks, schools, highways, shopping, restaurants, and more. The Oak Hill Estates offer spacious, economical living in a quiet residential setting.
36
Under Contract
Michel Commercial is pleased to present this two-property portfolio in Roseville, MN that has a total of 53 units and are 1.5 miles apart. Terrace Park is a 36-unit property (27 of the units (75%) have been remodeled) with large floor plans, private balconies/patios, and heated, underground parking (included in rent). Terrace Park is adjacent to a pond and residents enjoy the walking path and green space. Snelling Curve is a 17-unit property (9 of the units (53%) have been remodeled) at a quiet, street end with covered garages and a lush backyard patio space. Residents of Snelling Curve enjoy the peaceful neighborhood and convenient location. Both properties have on-site laundry facilities, storage lockers (included in rent), and updated common areas. The Terrace Park and Snelling Curve Apartments are ten miles from both Minneapolis and St. Paul. Residents are also minutes away from a robust commercial hub with popular retail stores and near the Rosedale Center mall. Roseville is an urban-suburban community and it is known for its top-rated schools and nearly 700 acres of beautiful park lands. Much of the city is commercially zoned which makes property taxes in Roseville lower than the neighboring communities. The entrances to Minnesota State Highways 36 and 51 and Interstate 35W are less than five minutes away, allowing for easy travel and access to top employers. These well-maintained and well-managed properties have an excellent current and historical occupancy as well as strong in-place income. This portfolio offers an immediate, naturally-occurring rent increase opportunity with rents below the like-kind rent comparables. In addition, 36 of the 53 units (68%) have been remodeled with the remaining original units providing an ideal value-add investment opportunity with rental growth potential through interior upgrades. The Terrace Park and Snelling Curve Apartments are turn-key properties that provide easy access to big-city attractions and amenities, green space, and freeways.
53
Michel Commercial Real Estate is pleased to present an exclusive listing for the sale of the Tealwood Apartment Homes (“Tealwood” or the “Property”). This sprawling 213- home community was built in 1987 and has a mix of market-rate homes (65% or 138-units) and affordable homes (35% or 75-units). Tealwood features open floor plans, full-size in unit washers and dryers, heated underground parking, in unit fireplaces, as well as balconies and patios. This Property is beautifully landscaped and boasts luxurious, community amenities. Tealwood is located in West Bloomington and the Property is surrounded by a blend of residential neighborhoods, parks and golf courses, as well as commercial hubs, including grocery stores and coffee shops. Bloomington is the fourth largest city in Minnesota and home to the Mall of America. Many large companies have chosen Bloomington for their headquarters and major operations, leading to Bloomington’s extremely high number of jobs per capita. Tealwood is served by Bloomington Jefferson High School, which has been named a National Blue Ribbon School of Excellence by the U.S. Department of Education. Interstate 494 is just 2.5 miles away, offering easy access to downtown Minneapolis and St. Paul, as well as the Minneapolis-St. Paul International Airport. The Tealwood Apartment Homes is a value-add investment opportunity and is well positioned for accelerated rent growth through interior upgrades in the market-rate homes. The Property is 99.1% occupied and over $1.6MM in capital improvements have been made in the last 8 years. Residents enjoy the Property’s stunning community amenities, including: a 24-hour fitness center, an outdoor pool, an outdoor great room, a dog park, 24/7 package kiosk, walking trails, and sport courts for: basketball, and tennis. The Tealwood Apartment Homes is an impressive community located in a robust market with easy access to top employers, shopping, and freeways.
213
Michel Commercial Real Estate is pleased to present an exclusive listing for the sale of The Cliffs of Minnetonka (the “The Cliffs”), a sprawling 456-unit apartment community. This rare offering is for sale for the first time. Built in 1985, this community features spacious units, open concept living, in-unit washers and dryers (322 units), heated underground parking, and resort-style amenities. The Cliffs is located in the city of Minnetonka, one of the most desirable suburbs in the Twin Cities, and situated in the top-rated Wayzata School District. The Cliffs is bordered by residential communities to the north and a robust commercial area directly to the south. Ridgedale Center Mall, one of the busiest malls in the Twin Cities, is just a five-minute drive away and features 108 stores (1.1 million square feet of retail space). Downtown Minneapolis is less than ten miles away via direct route on Interstate 394, which is less than a block from The Cliffs’ entrance. The Cliffs of Minnetonka is a value-add investment opportunity and is well positioned for accelerated rent growth through interior upgrades in the apartment units. The property is 96% occupied and over $1.5MM in capital improvements have been made to the common areas within the last year. Offered free and clear of existing debt, this property is a high yield investment opportunity when coupled with today’s attractive financing options. The Cliffs of Minnetonka is a rare jewel of a property that was built to be a showstopper and is located in a high barrier of entry market with easy access to top employment sectors, shopping, and freeways.
456
$ 73,500,000
Michel Commercial Real Estate is pleased to present an exclusive listing for the sale of the SpringBrook Apartments, an expansive 361- unit apartment complex featuring 242 detached garage stalls and resort-style common areas. This rare offering is for sale for the first time. Built in 1987, the Property is a value-add investment opportunity and is well positioned for strong rental growth through interior upgrades. A portion of the units have been renovated and serve as a model for the rental growth potential.
361
$ 29,225,000
The Falcon Heights Town Square Senior Apartments and the Falcon Heights Town Square Apartments are located in Falcon Heights, MN in Ramsey County. These properties have a total, combined unit count of 175-units and are a mix of market rate (65%) and affordable (35%) units. The sale includes approximately $1.7 million in TIF. The Falcon Heights Town Square Senior Apartments were built in 2003 and have 56 units (32% of the portfolio). This property features one-bedroom units, one-bedroom + den units, and two-bedroom units that vary in size and style. About 95% of the units are market rate and 5% of the units are affordable. Each unit has an in-unit washer and dryer, central heat and air conditioning, a dishwasher, a microwave, a refrigerator, a self-cleaning oven, a step-in shower, and is cable/ satellite ready. This independent, senior (62+) living community also has a 24-hour fitness room, a game room, a puzzle room, a media room with internet, a library, two community areas with fireplaces, and an outdoor community space. The Falcon Heights Town Square Apartments were built in 2004 and have 119 units (68% of the portfolio). This property features one-bedroom units, two-bedroom units, and three-bedroom units that vary in size and style. About 51% of the units are market rate and 49% of the units are affordable. Each unit has an in-unit washer and dryer, air conditioning, a dishwasher, a refrigerator, a self-cleaning oven, and generous closet space. This property also has multiple retail spaces with great visibility on the ground floor. The Falcon Heights Town Square Senior Apartments and the Falcon Heights Town Square Apartments feature ample heated underground parking ($50/month) as well as surface parking. These properties are centrally located and the residents enjoy the close proximity to I-35W and Highway 36. The convenient location also allows for easy access to: the Rosedale Mall, downtown St. Paul, local businesses, parks, trails, the Mississippi River, local schools, restaurants, bus lines, and more. The Falcon Heights Town Square Senior Apartments and the Falcon Heights Town Square Apartments offer comfortable and spacious living with an urban suburban feel.
175
$ 36,800,000
Remington Cove Luxury Apartments is a premier apartment community in Apple Valley. Built in Fall 2015 with 101 luxurious units, the building includes 1, 2, and 3 Bedroom apartment homes with upscale amenities such as heated underground parking, a 24 hour fitness center, an outdoor fire pit and picnic patio, off leash dog park, and a community room with a full kitchen. Remington Cove is a luxurious place to call home.
181,800.00 ft2
101
$ 16,140,000
The Cedar Pointe Estates was constructed between 2016 and 2019. There are 145 apartment units consisting of 50 one-bedroom units, 91 two-bedroom units, and 4 two-bedroom plus den units. The property does not have any affordability restrictions. There are 95 detached garage stalls plus an additional 263 surface parking spaces. Amenities include one community room with kitchen in each building, BBQ grills, one fitness room in each building, a playground, one elevator per building, laundry rooms on each floor of every building (10 rooms) and one on-site leasing office. While the owner is responsible for heat, hot water, water, sewer, and trash, the tenants pay for their own electric and have access to cable TV, internet, and garage stalls.
139,450.00 ft2
145
$ 11,000,000
Highland Shores Luxury Apartments is a premier apartment community in Chaska. Built in 2008 with 58 luxurious units, the building includes Studio, 1, and 2 Bedroom apartment homes with upscale amenities such as heated underground parking, a 24 hour fitness center, a barbecue area and picnic patio, and a community room. Highland Shores is a luxurious place to call home.
70,000.00 ft2
58
$ 15,600,000
The Lodge at Little Canada is a 79 unit mixed use property on a 2.08 acre site in Little Canada MN. Built in 2003, the property features one and two bedroom units, ground level commercial spaces, a heated garage, fitness center, library, gaming room, community room and lounge areas. Tenants enjoy easy access to public transportation, restaurants, churches, schools & parks.
90,605.00 ft2
79
$ 18,100,000
The Chestnut Apartment Community is a beautiful apartment property consisting of 7 apartment buildings with total of 159 units including 15 studio units, 68 one bedroom units, 45 two bedroom units, 11 two bedroom + den units and 20 three bedroom units. The property has underground parking (Phase Two), tuck under garages and detached garages. Phase One was built in 1974 and Phase Two was built in 2000. The buildings have attractive two and three story designs. Some of the amenities include washer and dryer hookups in units (Phase Two), controlled access and, elevator (Phase Two), fitness center, community room, outdoor swimming pool and picnic areawith barbecue. The residents pay all their utilities.
151,643.00 ft2
159
$ 49,500,000
Michel Commercial Real Estate is pleased to represent the Owner as Exclusive Investment Advisor/Broker in the marketing of Live Active Apartments (“The Property”). The Live Active Apartments is the most amenity rich complex in Mankato! Built in four phases from 1973 to 2016: Briargate I & II, Southridge, The Preserve, and the Cachet are comprised of 26 buildings on over 31 acres. The Live Active Apartments boast 1,079 beds (524 units) and attracts students as well as young professionals with their variety of unit styles, pricing, and access to amenities. The Live Active Apartments are strategically located less than half a mile away from Minnesota State University, Mankato as well as various restaurants and shopping. In addition to this, they offer a host of resort-style amenities including a new clubhouse, workout facility, a tanning bed, heated pool, indoor hot tub, hockey and ice skating rink (in the winter), bonfire pits, dog park, basketball court, sand volleyball courts, and more. With more amenities than any other complex in Mankato, the Live Active Apartments are the most desirable place to live, study, work, compete, and play! LiveActiveApartments.com
460,619.00 ft2
524
$ 32,500,000
The Calhoun Towers Apartments are a 21 story high rise near Lake Calhoun with 108 units. The property has underground parking, a fitness center, a community room, elevators and balconies.
159,159.00 ft2
108
$ 14,400,000
Blaine Town Square is a Senior's (62+) Affordable 87 unit apartment building on a 1.84 acre site in Blaine MN. Built in 2004, the property features one and two bedroom units, heated underground parking, 24-hour gym, indoor pool, resident-run library, community room, media room and grand lobby area with fireplace and a piano. Tenants enjoy easy access to public transportation, restaurants, churches, schools & parks.
90,291.00 ft2
87
$ 10,500,000
The Continental Village Apartments were built in 1968 and have a 2 1/2 story design with attractive and easy to maintain all brick exteriors. The property is 99% occupied. The property consists 3 apartment buildings with 28-1BR's and 58-2BR's for a total of 86 units . There are 100 detached garages. The Some of the amenities include a swimming pool, playground, laundry facilities, an office and high speed internet. The tenants pay for their electricity, trash, sewer and water. The property has received two new roofs in the last 5 years.
92,271.00 ft2
86
$ 11,800,000
Welcome to the relaxed living environment of Grand Avenue Estates Apartments and Patio Homes. The Grand Avenue Estates community is located in a residential setting just minutes from the St. Louis River with walking trails nearby. It is also close to Spirit Mountain Ski Area and the Superior Zoo. The Grand Avenue Estates presents an excellent opportunity to own a neighborhood within a neighborhood. Situated on the outskirts of Duluth, it has the feel of a rural setting, yet in the city. There are 6 three bed/two bath apartments, 34 two bed/two bath apartments, and 18 one bed/one bath apartments. There are also 5 three bed/two bath patio homes, and 4 two bed/two bath patio homes. Each unit (apartments and patio homes) has the convenience of its own laundry room, complete with washer and dryer.
87,766.00 ft2
67
$ 17,000,000
Bay Point Lake Apartments is a 114 unit market rate property on a 6 acre site in Eden Prairie, MN. Built in 1984, this building has a three story above ground design with an all brick exterior. The property has 101 underground parking spaces that rent for $50 a month and 12 detached garage spaces that rent for $75 a month. The property is comprised of 22 one bedroom units, 91 two bedroom units, and 1 three bedroom unit. (Many of these units have been recently remodeled.) Features of this building include: underground and surface parking, a fitness gym, and access to The Preserve, which includes a party room, an outdoor pool, a kids playground, tennis courts, volleyball courts, and a picnic area. Tenants enjoy the paved trails through the woods and around the lake, easy access to restaurants, and excellent schools.
135,435.00 ft2
114
$ 14,000,000
The Willow Park Community is a beatiful 300 unit community consisting of 10 apartment buildings with 30 units in each building. The property was built in 1976 and 1977. The buildings have attractive 3 story above ground designs with brick and wood exteriors. Some of the amenities include laundry on each floor, controlled access, exercise room, sauna, community room, playground, swimming pool, tennis courts, basketball courts and volleyball courts. The residents pay their utilities.
214,776.00 ft2
300

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