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Jordan Valley Townhomes

Jordan Valley Townhomes

11756 Xeon Street NM  /

Property Details

Price:
Property Type Multifamily
Total Lot Size: 6.89 Acres
Year Built: 2008
Number of Units: 44
County: Scott

Description

Michel Commercial is pleased to present Jordan Valley Townhomes, a 44 townhome affordable community in Jordan, MN. These well-maintained homes feature spacious layouts, in home laundry, private entries, and attached double garages— offering residents comfort and convenience. Affordability Structure: All 44 townhomes (100%) are designated for residents earning up to 60% of the Area Median Income (AMI) until the Land Use Restriction Agreement (LURA) expires in 2038. Attractive Investment Opportunity: Jordan Valley Townhomes presents a stable investment opportunity with a history of strong occupancy in a high-demand submarket. Additionally, the Low-Income Rental Classification (LIRC) tax rate reduction to 0.25% (effective January 1, 2025) enhances its long-term value, making it a compelling addition to any investment portfolio.

Location

Prime Location & Lifestyle Located off Old Highway 169 and Hope Avenue, Jordan Valley Townhomes offers a blend of urban convenience and suburban charm. The property is within the Jordan Public School District and provides easy access to local parks, recreational facilities, and shopping in the Jordan area.

Highlights

Strong Historical Occupancy
Jordan Valley Townhomes has maintained a history of strong occupancy, reflecting the high demand for quality, affordable housing in the area. Its well-designed townhome-style units with private entries and attached garages continue to attract and retain long-term residents, ensuring consistent and stable cash flow.

New Low-Income Rental Classification (LIRC) Tax Rate
The Low-Income Rent Classification (LIRC) tax rate for the designated affordable townhomes has been reduced to 0.25%, effective January 1, 2025. This adjustment significantly lowers the property’s tax burden, enhancing its overall profitability.

Pride of Ownership
The owners of these townhomes are also the developers and have
kept the property well-maintained showing great pride of ownership ensuring investors have a worry-free property.

Strong Submarket Fundamentals
The Jordan Valley Townhomes are located in the high-demand submarket of Jordan, MN, which boasts a low vacancy rate of 3.8% and no new supply expected in the next 12 month— strong indicators of sustained demand.

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