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North Pointe Townhomes 12751 Aberdeen St NE 18 Unit Apartment Building For Sale Blaine, MN 55449
INVESTMENT HIGHLIGHTS
- Strong Historical Occupancy
- Proximity to Employment and Education
- New Low-Income Rental Classification (LIRC) Tax Rate
- Recent Capital Improvements
EXECUTIVE SUMMARY
Michel Commercial is pleased to present the North Pointe Townhomes, an 18-townhome, mostly affordable community located in Blaine, MN. These well-maintained townhomes feature open layouts, in-home laundry, private entries, attached garages and recent capital improvements (including roofs, garage doors, furnaces, and air conditioning units).
Affordability Structure The property includes the following components:
• Market-Rate: 3 Townhomes
• Project Based Vouchers (HAP): 4 Townhomes
• HOME HUD (80% AMI): 2 Townhomes
• Section 42 LIHTC (60% AMI): 9 Townhomes
All affordability designations will remain in effect until the expiration of the Land Use Restriction Agreement (LURA) on March 17, 2033.
Prime Location and Lifestyle
North Pointe provides easy access to major roadways, offering convenient travel throughout the Twin Cities. The community is close to Blaine’s premier attractions, including:
The National Sports Center, TPC Twin Cities golf course, and Bunker Hills Regional Park. Residents benefit from a blend of urban convenience and suburban charm, complemented by excellent schools within the highly regarded Anoka-Hennepin School District, known for its strong academics and extracurricular opportunities.
Attractive Investment Opportunity
North Pointe Townhomes presents a stable and attractive investment opportunity, boasting a history of strong occupancy and a high-demand location.
Affordability Structure The property includes the following components:
• Market-Rate: 3 Townhomes
• Project Based Vouchers (HAP): 4 Townhomes
• HOME HUD (80% AMI): 2 Townhomes
• Section 42 LIHTC (60% AMI): 9 Townhomes
All affordability designations will remain in effect until the expiration of the Land Use Restriction Agreement (LURA) on March 17, 2033.
Prime Location and Lifestyle
North Pointe provides easy access to major roadways, offering convenient travel throughout the Twin Cities. The community is close to Blaine’s premier attractions, including:
The National Sports Center, TPC Twin Cities golf course, and Bunker Hills Regional Park. Residents benefit from a blend of urban convenience and suburban charm, complemented by excellent schools within the highly regarded Anoka-Hennepin School District, known for its strong academics and extracurricular opportunities.
Attractive Investment Opportunity
North Pointe Townhomes presents a stable and attractive investment opportunity, boasting a history of strong occupancy and a high-demand location.
PROPERTY FACTS Under Contract
| Sale Type | Investment | Building Class | B |
| No. Units | 18 | Lot Size | 2.28 AC |
| Property Type | Multifamily | Building Size | 55,428 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Townhome | Year Built | 2002 |
| Sale Type | Investment |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 2.28 AC |
| Building Size | 55,428 SF |
| No. Stories | 2 |
| Year Built | 2002 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Dining Room
- Vinyl Flooring
- Window Coverings
SITE AMENITIES
- Laundry Facilities
- Playground
- Property Manager on Site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | - | 1,504 |
| 3+1 | 13 | - | 1,653 |
| 4+2 | 1 | - | 2,119 |
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PROPERTY TAXES
| Parcel Number | 05-31-23-42-0106 | Improvements Assessment | $3,216,900 |
| Land Assessment | $412,100 | Total Assessment | $3,629,000 |
PROPERTY TAXES
Parcel Number
05-31-23-42-0106
Land Assessment
$412,100
Improvements Assessment
$3,216,900
Total Assessment
$3,629,000
CONTACTS
-
Heidi Addo -
Steve Michel -
Peter Michel -
Phil Reesnes -
Jesse Thurston -
Michel Commercial Real Estate
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North Pointe Townhomes | 12751 Aberdeen St NE
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