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Townhome Portfolio 13 Unit Apartment Building For Sale New Richmond, WI 54017
Executive Summary
Marcus & Millichap is pleased to present this exclusive listing for an investor to acquire a multi-family investment portfolio comprised of Thirteen (13) townhomes located in New Richmond, Wisconsin. Each resident has an attached 2-car garage, green space, off-street parking, covered front porch, and concrete pad behind their townhome. In addition, all residents have the convenience of being close to downtown. All townhomes are 3 Bedroom/2 Bathrooms and built in 2018-2019. Modern interiors and quality builds. The two value-add opportunities in this investment is to reassign lawn/snow responsibility to the tenant and also, to continue pushing rents close to Fair Market Rent for Saint Croix County.
New Richmond is located in St. Croix County, which as of recent years has been one of the fastest growing counties (percentage-wise) throughout the entire state of Wisconsin. What was once considered a farm town, New Richmond is now considered a growing community and an extension of the Minneapolis-Saint Paul MSA. This thriving community is home to many residents that take advantage of the affordable cost of living, the ease of travel to the Twin Cities metro for employment and events, as well as various recreational amenities that're local such as parks, rivers, and lakes. The accelerated level of development in this community is evident, while out-of-state and out-of-area investors are moving capital into this community, as a result of increase property values and improving NOl's.
Approximately 40 miles from Minneapolis-Saint Paul.
New Richmond is located in St. Croix County, which as of recent years has been one of the fastest growing counties (percentage-wise) throughout the entire state of Wisconsin. What was once considered a farm town, New Richmond is now considered a growing community and an extension of the Minneapolis-Saint Paul MSA. This thriving community is home to many residents that take advantage of the affordable cost of living, the ease of travel to the Twin Cities metro for employment and events, as well as various recreational amenities that're local such as parks, rivers, and lakes. The accelerated level of development in this community is evident, while out-of-state and out-of-area investors are moving capital into this community, as a result of increase property values and improving NOl's.
Approximately 40 miles from Minneapolis-Saint Paul.
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- Offering Memorandum
Property Facts
| Sale Type | Investment | Building Class | B |
| No. Units | 13 | Building Size | 19,500 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 2018 |
| Apartment Style | Townhome |
| Sale Type | Investment |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Building Size | 19,500 SF |
| No. Stories | 2 |
| Year Built | 2018 |
1 1
Somewhat walkable
30/100
Very drivable
80/100
Fairly bikeable
40/100
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