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North Pointe Townhomes

North Pointe Townhomes

301 14th Ave SE  /

Property Details

Price:
Property Type Multifamily
Total Lot Size: 2.27 Acres
Year Built: 2002
Number of Units: 18
County: Anoka

Description

Michel Commercial is pleased to present the North Pointe Townhomes, an 18-townhome, mostly affordable community located in Blaine, MN. These well-maintained townhomes have many recent capital improvements and feature open, spacious layouts, in-home laundry, and attached garages. Affordability Structure The property includes the following components: • Market-Rate: 3 Townhomes • Project Based Vouchers (HAP): 4 Townhomes • HOME HUD (80% AMI): 2 Townhomes • Section 42 LIHTC (60% AMI): 9 Townhomes All affordability designations will remain in effect until the expiration of the Land Use Restriction Agreement (LURA) on March 17, 2033. Prime Location and Lifestyle North Pointe provides easy access to major roadways, offering convenient travel throughout the Twin Cities. The community is close to Blaine’s premier attractions, including: The National Sports Center, TPC Twin Cities golf course, and Bunker Hills Regional Park. Residents benefit from a blend of urban convenience and suburban charm, complemented by excellent schools within the highly regarded Anoka-Hennepin School District, known for its strong academics and extracurricular opportunities. Attractive Investment Opportunity North Pointe Townhomes presents a stable and attractive investment opportunity, boasting a history of strong occupancy and a high-demand location.

Location

Blaine’s appeal lies in its strong community atmosphere, quality education, recreational amenities, and proximity to the Twin Cities. These attributes make it an ideal location for a variety of residents, from young professionals and families to retirees looking for a balanced lifestyle. Some of the key advantages include: Quality Schools: Blaine is served by the Anoka-Hennepin School District, one of the largest and most reputable in the state. Schools in this district offer strong academic programs, diverse extracurricular options, and community involvement, making Blaine a popular choice for families. Blaine High School is particularly noted for its Advanced Placement programs, athletics, and arts. Proximity to Larger Cities: Blaine is located just about 20 minutes north of Minneapolis and St. Paul, making it ideal for commuters who want suburban living with easy access to urban amenities. The close proximity allows residents to enjoy a quieter environment while being within a convenient drive to major attractions in the Twin Cities. professional opportunities. Parks and Recreation: Blaine offers over 60 parks and extensive green spaces, including Aquatore Park and Lakeside Commons Park. The city is also home to the National Sports Center (NSC), the largest amateur sports facility in the world, which hosts soccer, hockey, and other sports events year-round. For those who love the outdoors, Blaine’s parks provide access to playgrounds, picnic areas, trails, and even a beach, fostering an active, family-friendly lifestyle. Historic Charm and Local Amenities: Blaine blends suburban growth with touches of historic charm, visible in its local shops, parks, and community centers. The city offers a range of local businesses, dining options, and essential amenities like shopping centers and health facilities, allowing residents to meet daily needs without needing to travel far. Blaine also hosts community events, farmers’ markets, and festivals that create a close-knit, friendly atmosphere. Overall, Blaine offers a balanced lifestyle where residents can enjoy the perks of small-town living, a strong community spirit, and access to outdoor recreation, all while being close to larger urban centers.

Highlights

Strong Historical Occupancy
North Pointe Townhomes boasts consistent and predictable cash flow, supported by its strong occupancy rates. The appeal of its townhome-style rental units attracts and retains residents, ensuring long-term stability and demand.

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.

Proximity to Employment and Education
North Pointe Townhomes’ location gives residents easy access to both local employment and educational opportunities while also being close enough to the Minneapolis-St. Paul metro for commuting to larger employment centers or attending prominent universities. This balance of access to local amenities and the broader metro area is a significant draw for residents looking for career growth and educational advancement.

Thriving Community Atmosphere
Blaine, MN, is a city known for its inviting community atmosphere, blending suburban charm with a dynamic range of amenities, activities, and green spaces. Blaine’s community atmosphere combines the appeal of a family-friendly suburban area with the vibrancy of a town that values connection and active living.

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