Prix attendu Prix : Nous contacter
Revenu net Revenu net N/A
Taux de capitalisation N/A
Prix attendu Prix : Nous contacter
Revenu net Revenu net N/A
Taux de capitalisation N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Caractéristiques

Année de construction 1970
Taille de la propriété
Number of units 55

Description de la propriété

Jones Lang LaSalle (JLL) is pleased to present The Mendota – a 55-home, freshly renovated apartment community located at the intersection of Mendota Heights, West Saint Paul & Sunfish Lake. Sunfish Lake is known for its tranquility and beauty. This premier location offers easy access to The Village, a boutique retail center just down the bike path from The Mendota. The area is filled with a vast array of stores and restaurants, while also being home to numerous lakes, green fields, and parks. Located in a first ring suburb, residents enjoy a peaceful residential experience but benefit from a quick, five mile drive to Downtown Saint Paul and all the employment and entertainment opportunities that it has to provide. Employers, such as the State of Minnesota, 3M, and Thompson Reuters, have created strong demand for the city of West Saint Paul leading to below average vacancy rates and above average rent growth. In Q1 of 2020, the average vacancy rate within 3 miles of The Mendota was 2.6% and the average annual rent growth in the same area from 2015 to 2019 was 3.53%.


On top of the countless benefits The Mendota receives because of its location, the property is also positioned to benefit from more than $700,000 in renovations. From the exterior, to the common areas, to the units, nothing went untouched in the recent renovation of The Mendota. Now, not only do residents enjoy underground heated parking, a pool, and a sauna, but they get to live in a home filled with high-end finishes, such as quartz countertops and stainless steel appliances. The quality and finish of the renovations are second to none and have powerfully resonated with prospective tenants. When compared to the nearby competitive set, The Mendota stands alone in offering a high quality of living at an affordable price. This is none more evident than the fact that the property’s occupancy increased 8 percent in the month of October as renovations were wrapping up. The Mendota truly offers best-in-class finishes at below market prices.


The offering provides investors a unique opportunity to acquire a high yield asset that is located in one of the most sought after Saint Paul suburbs. Coupled with historically low interest rates, the new owner of The Mendota is going to significantly benefit from the returns the property provides as rents are pushed to the newly renovated market levels making this a deal that should not be missed.

Informations clés concernant l'investissement


  • In Q1 of 2020, average vacancy rate within 3 miles of The Mendota was 2.6%
  • Average annual rent growth in the same area from 2015 to 2019 was 3.53%
  • The property is positioned to benefit from more than $700,000 in renovations
  • Occupancy increased 8 percent in the month of October as renovations were wrapping up
  • New dog park, pet wash station, LED garage lighting, Sheetrock, lighting sconces, carpet & refinished doors in hallways
  • Updated pool area and fitness center
  • New Goodyear roof in the last 10 years with 15 years of life left
  • New windows and sliding doors in the last 10 years
  • 93% of units renovated
Last Updated Date: 09 Nov 2020
Dan Linnell
Dan Linnell
Senior Director, Capital Markets
Mox Gunderson
Mox Gunderson
Senior Director, Capital Markets

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DÉCLARATION DE CONFIDENTIALITÉ 

Jones Lang LaSalle (JLL), ainsi que ses différentes filiales et entités, est une société internationale leader du conseil en immobilier d'entreprise. Nous prenons la responsabilité de protéger avec la plus grande rigueur les informations personnelles qui nous sont confiées. 

En règle générale, les informations que nous recueillons sur vous nous permettent de traiter ou de répondre à votre demande. 

Nous nous engageons à conserver les informations personnelles qui nous sont confiées, avec le niveau de sécurité approprié, et aussi longtemps que nous le jugerons nécessaire pour toute raison professionnelle ou légale. Nous supprimerons ensuite vos données de manière sûre et sécurisée. À tout moment, vous avez la possibilité d’affiner vos préférences en termes de communication et de vous désabonner. 

Pour plus d'informations sur la manière dont JLL traite vos données personnelles, veuillez consulter notre déclaration de confidentialité.

Last Updated Date: 09 Nov 2020

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