PORTFOLIO
BLACK FOREST
Sauk Rapids, MN - 12 Units
Acquired in September 2023, this 12-unit apartment complex has undergone significant improvements under new management. Originally faced with deferred maintenance and communication lapses, we swiftly resolved these challenges, significantly improving tenant living conditions. We introduced online tenant portals with electronic rent payments for added tenant convenience. Upgrades include new decks, updated LVP flooring, new washing machines in the shared laundry facilities, and the installation of energy-efficient LED lighting and pipe insulation to reduce utility costs. All units, consisting of eleven 2-bedroom and one 1-bedroom layouts, are transitioning to market rents. Conveniently located close to downtown, parks, schools, and major thoroughfares like Highways 10 and 15, the building offers an appealing blend of accessibility and comfort. It is planned for a long-term hold with continued upside rent increase potential.
FERNBROOK
Bloomington, MN - 11 Units
Acquired in November 2023, this 11-unit apartment complex exemplifies modern elegance through extensive renovations. This value-add opportunity was seized at a 60% vacancy rate, due to unfinished construction left by the previous owner. Within months of closing, we completed all renovations and achieved a 100% occupancy rate with a waiting list. Nine out of eleven units have been meticulously remodeled down to the studs, offering over 900 sq ft of stylish living space. The transformation includes LVP flooring, contemporary kitchens with quartz countertops, stainless steel appliances, and chic subway tile backsplashes. The remaining two units were also extensively remodeled, maintaining the existing kitchen cabinets for cost efficiency. Ideally located near I-35W and essential amenities, this property is a prime example of our strategy for high-quality, cash-flowing real estate investments intended for long-term hold.
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CROWN
Fairbault, MN - 19 Units
Acquired in December 2023, this 19-unit property, comprising 18 one-bedroom units and one studio, caters primarily to retirees and seniors, ensuring a tranquil living environment in the quaint downtown of Fairbault, MN. Built in 1988 and thoughtfully maintained, the building features a durable metal roof, an elevator, and wide, handicap-accessible hallways, emphasizing comfort and accessibility. Following a comprehensive energy audit, we've upgraded all lighting to LED bulbs and installed energy-efficient plumbing fixtures, including new shower heads and faucet aerators, enhancing the sustainability and comfort of each unit. Positioned in a prime downtown location, Crown Apartments offers the convenience of being just steps away from the community co-op, and within a short walking distance to a variety of dining options. The property has shown robust value-add potential, with a considerable increase in Net Operating Income (NOI) achieved within just three months post-acquisition, while maintaining 100% occupancy. Perfect for those looking to enjoy a quiet, community-focused lifestyle, Crown Apartments combines modern enhancements with the charm of a quaint town setting, making it a highly desirable choice for long-term living.
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ZOLA
St. Louis Park, MN - 14 Units
Acquired in June 2024, Zola Apartments is ideally located in the tranquil St. Louis Park area, backing up to the picturesque Bass Lake wetlands. The 14-unit complex consists of spacious 2-bedroom, 1-bathroom apartments, each 1000 sq ft. Several units boast balconies with scenic views of the Bass Lake wetlands. This prime spot offers a serene setting with a trail that circles the entire lake and proximity to the popular Minneapolis chain of lakes. Undergoing comprehensive renovations, Zola Apartments will feature modern upgrades including new kitchens with stainless steel appliances, granite countertops, dishwashers, updated bathrooms, and LVP flooring throughout. Common areas will be refreshed with new flooring, lighting, and paint, while exterior enhancements will include improved landscaping and curb appeal. The building will also benefit from garage space availability, on-site laundry, and additional storage options. An upcoming energy audit aims to boost efficiency. The vibrant Excelsior/Grand area, with its array of restaurants, cafes, and shops, along with Bde Maka Ska are just steps away. Residents will enjoy the convenience of nearby favorites like Honey & Rye, Trader Joe's, Hazelwood, Wolfe Park, and extensive bike trails. Branded for the first time as Zola Apartments, this property exemplifies our commitment to creating high-quality, long-term investment opportunities in desirable neighborhoods.
ARBORETUM VILLAGE
Chanhassen, MN - Multiple Townhome Units
Nestled in the vibrant heart of Chanhassen, each of our 2-bedroom, 1.5-bathroom townhomes has been recently updated to reflect modern tastes, featuring fresh paint, updated LVP flooring, LED light fixtures, and new stainless steel appliances, creating a sleek, contemporary living space. Various mechanicals such as furnaces, water heaters, and air conditioners have been updated as well. Residents can enjoy a variety of on-site amenities designed to enhance their lifestyle, including a basketball court, walking trails, and a playground, making it easy to stay active and engaged within the community. The complex is situated in a prime location, close to excellent restaurants, shopping, and a plethora of parks such as Lake Minnewashta Regional Park and the Minnesota Landscape Arboretum, offering endless outdoor activities. Arboretum Village offers a tranquil retreat from the hustle and bustle of daily life, but also provides easy access to everything that Chanhassen, Excelsior, Chaska, and Victoria have to offer. Our investment strategy includes holding these high cash-flowing properties long-term, and considering 1031 exchanges into larger apartment building deals as opportunities arise, ensuring sustained growth and stability in our real estate portfolio.
POINTE VILLAGE
Otsego, MN - Multiple Townhome Units
Nestled in the heart of Otsego, MN, our collection of townhomes offers a perfect blend of comfort and convenience. Designed with modern suburban living in mind, these properties feature spacious 2-bedroom, 2-bathroom layouts, each boasting large walk-in closets and sunlit open-concept living areas. The kitchen and dining areas open up to private patios, surrounded by lush green lawns. Residents enjoy the added convenience of an extra deep garage providing ample storage space, alongside upgrades including new furnaces, AC units, water heaters, and in-unit washer/dryer setups. Located just miles from Elk River and Rogers, and with easy access to Highways 169 and I-94, our townhomes are strategically positioned for easy commuting and proximity to shopping, dining, and entertainment options in nearby Maple Grove and beyond. These properties are perfect for tenants transitioning from apartment living to their own space, offering a taste of homeownership without the commitment. Long-term investment plans for these townhomes include potential 1031 exchanges into multifamily apartment building acquisitions, underscoring our commitment to growth and quality in real estate.