New Richmond Condominium Portfolio
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New Richmond Condominium Portfolio
4 Multifamily Properties in New Richmond, WI
Investment Highlights
- Located in One of the Fastest Growing Counties (Percentage Wise Relative to Population Growth) in Wisconsin.
- Each Resident has an Attached Garage, Green Space, Onsite Postal Boxes, & have the Convenience of being Close to Downtown.
- Value-Add Opportunity - Reassign Lawn/Snow Responsibility to the Tenant & Continue Pushing Rents to HUD's FMR, which is $1,685 in St. Croix County.
- Each Condominium has Parcel ID To Be Sold Individually in Future as part of Buyer's Exit Strategy in Future for Maximum ROI.
Executive Summary
Marcus & Millichap is pleased to present this exclusive investment opportunity for an investor to acquire four multi-family buildings comprised of a sixteen condominium
building portfolio located in New Richmond, Wisconsin (AKA the "City Beautiful"). This multi-family investment is comprised of 16 separate parcels among four neighboring buildings. Former owner created an association but there's currently no existing HOA dues for owners or residents; however, there is a Value-Add opportunity to create HOA dues paid to new owner and assign dues to each resident in exchange for lawn/snow removal services. All residents have an attached garage, green space, onsite postal boxes, and have the convenience of being close to downtown. Unit Mix of Twelve 2 Bedroom/1.5 Bathroom Condominiums and Four 2 Bedroom/1 Bathroom Condominiums. Newer Siding, Newer Roofs, Renovated Condominiums, Recently Seal-Coated Driveways. In addition to reassigning lawn/snow responsibility to the residents, another Value-Add opportunity is to continue pushing rents to HUD's Fair Market Rent for 2025 in Saint Croix County which is $1,685, which is up from $1,622 in 2024.
New Richmond is one of the fastest growing communities in St. Croix County, which is one of the fastest growing counties throughout the entire state of Wisconsin. New
developments can be found on all four sides of town. What was once considered a farm town is now considered a growing extension of the Minneapolis-Saint Paul MSA.
The thriving community is home to many residents that take advantage of the affordable cost of living, the ease of travel to the Twin Cities metro for higher wages, more
opportunities for employment and events, as well as various recreational amenities that're local such as parks, rivers, and lakes.
Copy and Paste Hyperlink into Search Engine for Virtual Walk Through Video #1: https://youtu.be/JvB6CUCF-jY
Copy and Paste Hyperlink into Search Engine for Virtual Walk Through Video #2: https://youtu.be/Xn4I1ZW693s
DISTANCE FROM NEW RICHMOND, WISCONSIN (IN MILES)
Minneapolis, MN - 43 Miles
Saint Paul, MN - 37 Miles
Woodbury, MN - 34 Miles
River Falls, WI - 14 Miles
Stillwater, MN - 19 Miles
Hudson, WI - 20 Miles
Balsam Lake, WI -28 Miles
Prescott, WI -34 Miles
Menomonie, WI - 45 Miles
Eau Claire, WI - 68 Miles
Superior, WI - 124 Miles
building portfolio located in New Richmond, Wisconsin (AKA the "City Beautiful"). This multi-family investment is comprised of 16 separate parcels among four neighboring buildings. Former owner created an association but there's currently no existing HOA dues for owners or residents; however, there is a Value-Add opportunity to create HOA dues paid to new owner and assign dues to each resident in exchange for lawn/snow removal services. All residents have an attached garage, green space, onsite postal boxes, and have the convenience of being close to downtown. Unit Mix of Twelve 2 Bedroom/1.5 Bathroom Condominiums and Four 2 Bedroom/1 Bathroom Condominiums. Newer Siding, Newer Roofs, Renovated Condominiums, Recently Seal-Coated Driveways. In addition to reassigning lawn/snow responsibility to the residents, another Value-Add opportunity is to continue pushing rents to HUD's Fair Market Rent for 2025 in Saint Croix County which is $1,685, which is up from $1,622 in 2024.
New Richmond is one of the fastest growing communities in St. Croix County, which is one of the fastest growing counties throughout the entire state of Wisconsin. New
developments can be found on all four sides of town. What was once considered a farm town is now considered a growing extension of the Minneapolis-Saint Paul MSA.
The thriving community is home to many residents that take advantage of the affordable cost of living, the ease of travel to the Twin Cities metro for higher wages, more
opportunities for employment and events, as well as various recreational amenities that're local such as parks, rivers, and lakes.
Copy and Paste Hyperlink into Search Engine for Virtual Walk Through Video #1: https://youtu.be/JvB6CUCF-jY
Copy and Paste Hyperlink into Search Engine for Virtual Walk Through Video #2: https://youtu.be/Xn4I1ZW693s
DISTANCE FROM NEW RICHMOND, WISCONSIN (IN MILES)
Minneapolis, MN - 43 Miles
Saint Paul, MN - 37 Miles
Woodbury, MN - 34 Miles
River Falls, WI - 14 Miles
Stillwater, MN - 19 Miles
Hudson, WI - 20 Miles
Balsam Lake, WI -28 Miles
Prescott, WI -34 Miles
Menomonie, WI - 45 Miles
Eau Claire, WI - 68 Miles
Superior, WI - 124 Miles
Data Room Click Here to Access
Taxes & Operating Expenses (Actual - 2024) Click Here to Access |
Annual |
|---|---|
| Gross Rental Income |
$99,999
|
| Other Income |
$99,999
|
| Vacancy Loss |
$99,999
|
| Effective Gross Income |
$99,999
|
| Taxes |
$99,999
|
| Operating Expenses |
$99,999
|
| Total Expenses |
$99,999
|
| Net Operating Income |
$99,999
|
Taxes & Operating Expenses (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
Property Facts
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 16,918 SF |
| Number of Properties | 4 |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 16,918 SF |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 1473 Doman Dr, New Richmond, WI 54017 | Multifamily | 4,282 SF | 1994 | - |
| 1455 Doman Dr, New Richmond, WI 54017 | Multifamily | 4,272 SF | 1993 | - |
| 1413 Doman Dr, New Richmond, WI 54017 | Multifamily | 4,284 SF | 1992 | - |
| 1397 Doman Dr, New Richmond, WI 54017 | Multifamily | 4,080 SF | 1991 | - |
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New Richmond Condominium Portfolio
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