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The Burlington Apartments 1180 Cushing Cir 438 Unit Apartment Building For Sale Saint Paul, MN 55108
INVESTMENT HIGHLIGHTS
- Compelling value-add opportunity
- Significant gap to new construction rents
- Strong lease trade outs/renewal trends
- Opportunity to acquire at significant discount to replacement cost
EXECUTIVE SUMMARY
Offers Due 9/17
CBRE, Inc., as exclusive advisor, is pleased to present to qualified investors The Burlington, a 1985-built, 438-unit apartment community in the capital city of St. Paul, MN. Uniquely situated on 18 acres in an urban setting, this urban oasis property provides a compelling value-add opportunity based on the remaining units to be renovated, current rent levels achieved for Tier II renovations, and a rent control exception (the property has the ability to raise rents by 19.4%).
The property is being offered all cash or debt assumption.
CBRE, Inc., as exclusive advisor, is pleased to present to qualified investors The Burlington, a 1985-built, 438-unit apartment community in the capital city of St. Paul, MN. Uniquely situated on 18 acres in an urban setting, this urban oasis property provides a compelling value-add opportunity based on the remaining units to be renovated, current rent levels achieved for Tier II renovations, and a rent control exception (the property has the ability to raise rents by 19.4%).
The property is being offered all cash or debt assumption.
PROPERTY FACTS Under Contract
| Sale Type | Investment | Lot Size | 18.25 AC |
| No. Units | 438 | Building Size | 363,935 SF |
| Property Type | Multifamily | Average Occupancy | 96% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Garden | Year Built/Renovated | 1985/2016 |
| Building Class | B | Parking Ratio | 1.09/1,000 SF |
| Zoning | RM3 | ||
| Sale Type | Investment |
| No. Units | 438 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 18.25 AC |
| Building Size | 363,935 SF |
| Average Occupancy | 96% |
| No. Stories | 3 |
| Year Built/Renovated | 1985/2016 |
| Parking Ratio | 1.09/1,000 SF |
| Zoning | RM3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Storage Space
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Bay Window
- Ceiling Fans
- Kitchen
- High Speed Internet Access
- Refrigerator
- Satellite TV
- Oven
- Range
- Tub/Shower
- Views
- Walk-In Closets
SITE AMENITIES
- 24 Hour Access
- Clubhouse
- Courtyard
- Fitness Center
- Laundry Facilities
- Picnic Area
- Pool
- Property Manager on Site
- Sauna
- Spa
- Tennis Court
- Gated
- Breakfast/Coffee Concierge
- Grill
- Laundry Service
- Package Service
- Pet Play Area
- Recycling
- Walking/Biking Trails
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 28 | - | 454 - 566 |
| 1+1 | 207 | - | 648 - 1,090 |
| 2+2 | 203 | - | 982 - 1,361 |
Bike Score®
Very Bikeable (80)
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The Burlington Apartments | 1180 Cushing Cir
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