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Falcon Heights Town Square Senior & Falcon Heights Town Square

Falcon Heights Town Square Senior & Falcon Heights Town Square

1530 Larpenteur Ave W  /

Property Details

Price:
Property Type Multifamily
Total Lot Size: 3.91
Year Built: 2003
Number of Units: 175
County: Ramsey

Description

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.

Location

The city of Falcon Heights is a suburb of St. Paul and is located in Ramsey County. The city was originally considered a village and is only 2.24 square miles with a population of 5,571 people. However, Falcon Heights is surrounded by other large suburbs (Roseville and Lauderdale). Falcon Heights is conveniently located, about 8 miles northwest of downtown St. Paul and about 6 miles northeast of downtown Minneapolis. This close proximity to two major cities provides residents with an urban suburban feel. The largest employers in Falcon Heights are the University of Minnesota and the Minnesota State Fair who each employ over 1,500 people.

Highlights

  • Historically High Occupancy
  • Built in 2003 & 2004
  • 1, 2, & 3 Bedroom Floor Plans
  • Refrigerators
  • Self-Cleaning Ovens
  • Dishwashers
  • Microwaves (Senior)
  • Large Closets
  • In-Unit Washers & Dryers
  • Balconies & Patios (select units)
  • Central Air Conditioning (Senior)
  • Cable/ High Speed Internet Ready
  • Storage Space
  • Secured Entrances
  • Elevators
  • Underground Heated Parking ($50/month)
  • Surface Parking
  • Community Courtyard (Senior)
  • 24-Hour Fitness Room (Senior)
  • Game Room (Senior)
  • Puzzle Room (Senior)
  • Billiards Room (Senior)
  • Library (Senior)
  • Professionally Managed
  • Property Manager On-Site
  • 24 Hour Emergency Maintenance
  • Well-Maintained
  • Near Local Bus Stops
  • Near I-35W and Highway 36

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