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Description de la propriété
JLL, as exclusive advisor, is pleased to offer for sale Marshall & Wilder Villas ("the Properties"), two historic, 11-home multifamily communities located in the Merriam Park neighborhood of Saint Paul.
Merriam Park offers immediate access to the Saint Paul and Minneapolis Downtowns’, and the greater Twin Cities metro area through many throughways. Residents, mainly comprising of young professionals, have access to a variety of Grand Avenue’s local bars, restaurants, and coffee shops. Also, the University of St. Thomas, Macalester University, St. Catherine University, and Concordia University are all within a close proximity. The Properties are positioned for long-term appreciation and rental growth as the Merriam Park neighborhood has a limited supply of apartments. Situated in the growth path of Saint Paul’s most vibrant communities, the properties have a distinct competitive advantage with rising construction costs and a dwindling supply of buildable sites - attributing to the area’s high-barrier to entry atmosphere.
The properties feature studio and one bedroom layouts complemented with a curb appeal rivaled by none. The extensive capital expenditures completed to the buildings by the current ownership empowers a new owner to add value to this meticulously maintained property.
Marshall & Wilder Villas offer a unique opportunity to purchase turnkey assets in one of Saint Paul’s most coveted communities allowing an investor to enter a high-growth market at an extremely attractive basis.
Informations clés concernant l'investissement
Premium Building Upgrades
Extensive renovations conducted on the common areas, unit interiors, and exteriors with an emphasis on maintaining the original vintage feel
Attractive going-in basis well below today’s high replacement costs with the ability to place historically low financing to maximize cash-on-cash returns
Supply constrained, high-barrier-to-entry Merriam Park neighborhood