Eau Claire Multifamily for Sale
Marcus & Millichap is proud to present this exclusive listing of the Eau Claire Apartments of Highway 53, which is a Market Rate 50-Unit Portfolio, located in the most populated community in Western Wisconsin. Eau Claire has a reported 72,000 population count as of 2024, and as a result of accelerated growth, this city will remain among the top 15 most populated municipalities throughout the entire state. With 10 major byways in the area, including US Highway 12, US Highway 53, and Interstate 94, Eau Claire sees a high-volume traffic count of commuters and travelers alike, as a result of being located in a west-central hub of Wisconsin, paired with also having ease of travel along I-94 to get to the Minneapolis-Saint Paul metropolitan area in less than an hour and a half. In addition to the residents and travelers passing through via car/intercity bus/or Eau Claire Transit bus, there’s a major freight rail line (owned by Union Pacific Railroad) as well as the Chippewa Valley Regional Airport, creating ample commerce opportunities through the variety of means of transportation available to the general public and private businesses.
While originally known for its prominent logging industry, while being situated along the Chippewa River and Eau Claire River, this former logging town is now better-known for being home to Menards, Inc – one of the largest home improvement stores in the United States. In addition to manufacturing and retail, Eau Claire is also known to the student-body as home to the University of Wisconsin – Eau Claire, as well as Chippewa Valley Technical College, where students have a variety of options for fields of study – including the arts, business, education, becoming a healthcare professional, and science. Local residents benefit from cost-effective housing while also having the flexibility to work in numerous surrounding communities – including but limited to Chippewa Falls, Menomonie, Altoona, and even further out communities such as La Crosse, Hudson, Minneapolis-Saint Paul, as a result of ease of travel.
This apartment complex was built in the late 1970’s, and at one point had a pool and volleyball court; however, these amenities were since replaced with green space, while making for a most cost-effective investment. These amenities are offered at competitive rentals in the area, and for premium rents; whereas, this apartment complex caters to a more broad demographic and a larger tenant-base, creating a more competitive tenant-pool for management to select approved applicants from. The two buildings are comprised of Twenty-Nine (29) 1-Bedroom apartments, Nineteen (19) 2-Bedroom apartments, and Two (2) 3-Bedroom apartments.
The property has been well-maintained and, in recent years, stabilized with many capital improvements, allowing for a new owner to focus on bringing the rents to fair market.
