Kestrel Park Townhomes | 2419 14th St E
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Kestrel Park Townhomes 2419 14th St E
30 Unit Block of Flats For Sale Glencoe, MN 55336
Investment Highlights
- Strong Historical Occupancy
- Proximity to Employment and Education
- New Low-Income Rental Classification (LIRC) Tax Rate
- Thriving Community Atmosphere
Executive Summary
Michel Commercial is pleased to present the Kestrel Park Townhomes, a 30-unit, affordable (Section 42) community in Glencoe, MN. This well-maintained property offers a desirable mix of spacious two- and three-bedroom townhomes, featuring open layouts, convenient amenities, such as dishwashers and in-home washers an dryers, attached garages, and private patios. All 30 townhomes (100%) are designated to serve residents at 60% of the median area income until the expiration of the LURA contract on 12/23/2029.
Kestrel Park Townhomes are located in close proximity to numerous local amenities, including Oak Leaf Park, which features walking trails, a disc golf course, and scenic views of Buffalo Creek. The property is also less than a mile from Glencoe-Silver Lake Schools, making it an ideal location for families. Kestrel Park is situated just minutes from U.S. Highway 212, which provides quick connections to the western suburbs and the Twin Cities, with downtown Minneapolis reachable in under an hour. This easy access to major transportation routes enhances the townhomes’ appeal for residents seeking regional connectivity.
With a history of high occupancy, recent capital improvements (including new roofs), Kestrel Park Townhomes offers reliable and consistent returns. The upcoming change in the Low-Income Rental Classification (LIRC) tax rate to 0.25%, effective January 1, 2025, further enhances its appeal as an excellent addition to any investment portfolio.
Kestrel Park Townhomes are located in close proximity to numerous local amenities, including Oak Leaf Park, which features walking trails, a disc golf course, and scenic views of Buffalo Creek. The property is also less than a mile from Glencoe-Silver Lake Schools, making it an ideal location for families. Kestrel Park is situated just minutes from U.S. Highway 212, which provides quick connections to the western suburbs and the Twin Cities, with downtown Minneapolis reachable in under an hour. This easy access to major transportation routes enhances the townhomes’ appeal for residents seeking regional connectivity.
With a history of high occupancy, recent capital improvements (including new roofs), Kestrel Park Townhomes offers reliable and consistent returns. The upcoming change in the Low-Income Rental Classification (LIRC) tax rate to 0.25%, effective January 1, 2025, further enhances its appeal as an excellent addition to any investment portfolio.
Property Facts
| Sale Type | Investment | Lot Size | 3.56 AC |
| No. Units | 30 | Building Size | 50,000 SF |
| Property Type | Residential | Average Occupancy | 97% |
| Property Subtype | Apartment | Number of Floors | 2 |
| Apartment Style | Garden | Year Built | 1999 |
| Building Class | B | Parking Ratio | 1.2/1,000 SF |
| Sale Type | Investment |
| No. Units | 30 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 3.56 AC |
| Building Size | 50,000 SF |
| Average Occupancy | 97% |
| Number of Floors | 2 |
| Year Built | 1999 |
| Parking Ratio | 1.2/1,000 SF |
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Washer/Dryer
- Heating
- Kitchen
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Dining Room
- Patio
- Vinyl Flooring
- Window Coverings
Site Amenities
- Laundry Facilities
- Playground
- Property Manager on Site
- Package Service
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 8 | - | 981 |
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PROPERTY TAXES
| Parcel Number | 22.018.2400 | Improvements Assessment | £1,057,403 |
| Land Assessment | £352,494 | Total Assessment | £1,409,897 |
PROPERTY TAXES
Parcel Number
22.018.2400
Land Assessment
£352,494
Improvements Assessment
£1,057,403
Total Assessment
£1,409,897
Contacts
-
Heidi Addo -
Peter Michel -
Phil Reesnes -
Jesse Thurston -
Stacie Mugazia -
Michel Commercial Real Estate
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Kestrel Park Townhomes | 2419 14th St E
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