Creekside Apartments 209 9th St W

Marcus & Millichap, as the exclusive listing broker, is pleased to present Creekside Apartments, a 40-unit market-rate apartment building in Litchfield, Minnesota. This property is being offered for sale on a free-and-clear basis.
Litchfield, MN is the county seat of Meeker County and is located one hour from the western suburbs of Minneapolis, MN. Willmar, Hutchinson, and Paynesville are also located less than 30 minutes away providing tenants with an array of employment options.
The floorplans at Creekside consist of one- and two-bedroom units, ranging from 630 square feet to 776 square feet respectively. Two units have been fully remodeled while multiple units have been updated with new cabinets, countertops, vanities, tub surrounds, interior doors, and vinyl plank flooring in the past few years. The property is constructed with a pitched roof and vinyl siding exterior. O- site amenities include off-street/ garage parking and common area laundry for residents.
The property sits in a tranquil park like setting with an abundance of green space and the Jewett Creek which runs just south and east of the property. This coupled with the limited supply of housing in the area has benefited the property with long-term tenants and low historical vacancy. Currently, there is an on-site caretaker assisting operations at $550 per month.
The extra lot on-site is perfect for future development of additional units. A potential owner can also increase returns by bringing approximately 23 leases to market in February 2025.
Creekside allows a new investor to enter into a stable investment with long-term upside potential.