Anoka/Champlin Portfolio

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.

Anoka & Champlin are neighboring northern suburbs of the Twin Cities, separated by the Mississippi River and surrounded by the cities of Dayton, Ramsey, Andover, Coon Rapids, Brooklyn Park, Osseo, and Maple Grove. Champlin is located in Hennepin County and has a population of 25,136—an 8.87% increase since 2010— the average household income is $108,081 and as of May 2022, the median home value is $237,800 and the unemployment rate is 2.5%. Champlin has been called one of the best places to live in Minnesota, attracting families and young professionals. Anoka is the county seat of Anoka County and has a population of 17,615—a 2.76% increase since 2010— the average household income is $79,777 and as of May 2022, the median home value is $203,100 and the unemployment rate is 4.4%. Both the cities of Anoka and Champlin are served by the Anoka- Hennepin School District 11, one of the largest districts in the state of Minnesota, with a graduation rate of 92.8%. Both cities host regionally famed festivals every year to foster community pride and large public development projects are underway in both cities, with millions of dollars already invested to create welcoming public spaces along the Mississippi River.