Portfolio

Acquired in February 2025 as part of a 1031 exchange, Hillcrest Apartments is a 23-unit property with spacious one- and two-bedroom layouts located in the growing community of Le Sueur, MN—home to major employers like Cambria and Seneca Foods. The property includes 17 garages built in 2017, on-site laundry, and sits on over an acre of land. Upon acquisition, we cleared out years of accumulated storage items, repaired both boilers, and negotiated a brand-new water heater as part of the purchase. Additional plans include converting unused storage space into a new studio unit and upgrading the exterior with refreshed landscaping and our signature “Black Magic” charcoal paint scheme. Several units have already been updated with new countertops and laminate wood flooring, and rents across most units remain below market, providing clear value-add potential. With historically low vacancy and a waiting list, Hillcrest is positioned as a strong long-term hold with upside in both income and curb appeal.