Evans Meadows Listing Details & Market Data

Colliers is pleased to present for sale, Evans Meadows Apartments. Built in 2002 in Elk River, MN, Evans Meadows offers spacious units with modern amenities and extensive community features. With its impressive historical occupancy, rent growth, and proven value-add upside, it offers a strong investment opportunity for both core-plus and value-add investors.

​​​​​​Multifaceted Investment Opportunity

• Oustanding historical performance evidenced by a 96.75% average occupancy rate and 6.42% average annual rent growth over the past 6 years
• Amenity-rich property with in-unit laundry, full walk-in closets, large outdoor pool, clubhouse, attached parking, fitness center, package room, and more
• Ideal diversified investment opportunity with immediate potential to cashflow the property as-is or the ability to expand on current ownership's proven value
• Instant downside protection as new ownership will walk into a stabilized, fully-amenitized property offered 35%-45% below today's replacement cost

High-Growth Twin Cities Location

• Short 10-minute walk to downtown Elk River - who's Main Street features local shops, bars, restaurants, and River Edge Commons - a riverfront park and gathering space
• High-growth submarket featuring the 3rd fastest growing city (Elk River) and county (Sherburne County) in Minnesota
• Transit-oriented location situated at the intersection of Highway 10 (East-West) & Highway 169 (North-South) with the Northstar Commuter Line's Elk River Station also located just 5-minutes away
• Minneapolis-St. Paul features one of the highest concentrations of Fortune 500 Companies of any major metropolitan in the US
• The Twin Cities has one of the lowest cost of living indexes in the country, while also boasting the 2nd lowest rent-to-income ratio in the US