Cottages of Aspen Oakdale

1745 Granada Avenue North, Oakdale, MN, 55128, US

Description

Jones Lang LaSalle (JLL) is pleased to present Cottages of Aspen, an exceptional 114-unit, age-restricted (55+), Section 42 community in the thriving Oakdale submarket.

Constructed in 1991 and extensively renovated in 2008, this meticulously maintained asset spans 28 acres directly adjacent to the scenic 40-acre Richard Walton Park. The premier location provides residents an unparalleled living environment while offering convenient access to desirable retail destinations, including the popular Woodbury Lakes shopping district.

This distinguished property is immediately eligible for tax credit re-syndication following acquisition. Limited turnover, extended tenant tenure, and consistently strong occupancy rates underscore the robust resident demand that defines this community. With interiors positioned for a strategic value-add approach, prospective investors will acquire a well-maintained asset with a clear path for enhanced returns and long-term growth.

The investment offers a rare opportunity to acquire an asset with strong demand fundamentals, limited new supply in the submarket, and attractive Fannie Mae assumable financing. JLL is seeking qualified offers to purchase this community, with an anticipated closing date of Q4 2026.

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Attributes

Number of units

114

Occupancy

96%

Year built

1991

Year renovated

2008

Rentable area

9,253 m²

Land Area

27.90 Acres

Media

Investment Highlights

Trophy 55+ Community with Accretive Fannie Mae Financing

Large one and two bedroom floor plans with attached garages
Community spans a 28-acre site directly adjacent to Richard Walton Park
The asset benefits from a lucrative Fannie Mae loan with 5 years interest only, enabling investors to achieve substantial cash-on-cash returns
Offered significantly below today’s replacement cost

Attractive Going-In Yield with Upside Potential

Property benefits from current 4d tax rate boosting cash flow
Potential to increase revenue through rent increases up to max allowable rent level supported by immediate comps
Mission opportunity supporting social and economic equality by providing housing to individuals below the 60% annual median income threshold

Rare Twin Cities Suburban Offering

Located in the thriving Oakdale submarket with excellent connectivity to major employment centers throughout the Twin Cities metro area
Easy access to Interstate 694 and Highway 36, connecting residents to downtown St. Paul, Minneapolis, and surrounding communities
Proximity to quality healthcare facilities including HealthEast/M Health Fairview and other medical services catering to senior residents
Nearby community amenities include additional parks, trails, and recreational facilities that enhance the active senior lifestyle