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Linderhof Park Apartments

Linderhof Park Apartments

1100 N 16th Street  /

Property Details

Price:
Property Type Multifamily
Year Built: 1977
Number of Units: 56
County: Brown

Description

Michel Commercial Real Estate is pleased to present the Linderhof Park Apartments, a 56-unit, HUD-subsidized Project Based Section 8 apartment complex in New Ulm. The Section 8 contract expires in April of 2024 and at that time, the property can become market rate. Linderhof Park has many community amenities, including on-site maintenance, a new playground, a basketball hoop, a pool, off-street parking, and laundry facilities on every floor. Every townhome-style unit has its own balcony, deck, or patio. Linderhof Park is located in New Ulm, a family-friendly city with rich cultural heritage less than 100 miles from central Minneapolis. Linderhof Park is just a few blocks from Cash Wide Foods and Washington Learning Center. There are several restaurants and shops within walking distance of the property. Linderhof Park is less than a mile from U.S. Highway 14 and 1.5 miles from a commercial center, featuring a Walmart, Aldi, Menards, and more. Linderhof Park Apartments offers a desirable mix of one-, two-, and three-bedroom units. All four buildings are well maintained, and the property has a history of strong, long-term occupancy and low vacancy rates. Because Linderhof Park is an HUD-subsidized property, all tenants are pre-screened, and the property generates stable income even during periods of recession. Linderhof Park Apartments is a steady investment opportunity in a lively small city with a robust manufacturing sector, good schools, and award-winning healthcare facilities.

Location

New Ulm is the county seat of Brown County and a city with rich German heritage. The city is full of historical sites and monuments to the Dakota War of 1862, German-Bohemian immigration, and other major events, and hosts festivals year-round to celebrate its cultural heritage. New Ulm is located along U.S. Highway 14 and Minnesota State Highways 15 and 68, less than 100 miles from central Minneapolis. Low land costs, quality labor, and tax exemptions and credits have made the city a regional manufacturing hub, with major facilities operated by 3M, Kraft- Heinz, AMPI, Parker, Windings, American Artstone, and Ilpea. New Ulm also offers good schools, beautiful parks, a charming downtown, and an award-winning medical center operated by Allina Health.

Highlights

Community Amenities
• On-site laundry facilities (every floor)
•  Off-street parking
•  Pool
•  Playground
•  On-site maintenance

Convenient Location
• Minutes from Cash Wise Foods Grocery Store New Ulm
•  Blocks from Washington Learning Center
•  Walkable to Shops and Restaurants
•  Easy access to Highway 14

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