The Cambric

720 East 7th Street, Saint Paul, MN, 55106, US

Descripción

Jones Lang LaSalle (JLL) is pleased to present The Cambric – a beautiful 113-home Section 42 active adult apartment community located in a historic neighborhood setting. Built in 2016 by Dominium, this four-story low-rise property offers residents affordable quality housing with proximity to downtown St. Paul, walking and biking paths, and essential neighborhood amenities.

The Cambric features thoughtfully designed one- and two-bedroom homes averaging 881 square feet, complemented by community amenities including a fitness center, theater room, and heated underground parking. The property maintains strong occupancy at 95% with affordable rent levels– representing compelling value as homeownership costs in St. Paul command a 78% premium to renting at The Cambric.

This investment offers a rare opportunity to acquire an asset with strong demand fundamentals and meaningful value at a 43% discount to estimated replacement cost with limited new supply. Offered for sale by its original owner with attractive assumable HUD financing, JLL is seeking qualified offers to purchase this community with an anticipated closing date in Q4 of 2026.

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Atributos

Unidades

113

Ocupación

95 %

Año de construcción

2016

Superficie neta construida

9231 m²

Media

Aspectos destacados de la inversión

Trophy 55+ Community with Accretive HUD Financing

Large one and two bedroom floor plans with city skyline views
Robust amenity package including a fitness center, community room with full kitchen and fireplace, theater room, library, salon, and underground parking
The asset benefits from a lucrative HUD loan with below market interest rate, enabling investors to achieve substantial cash-on-cash returns
Additional leverage with assumption of soft financing

Attractive Going-In Yield with Upside Potential

Property benefits from current 4d tax rate on 100% of units 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 Neighborhood Saint Paul Offering with Deep Employer Base

Cambric's location offers history, culture, convenience, trendy shops and dining, excellent access to transportation, parks, and the Mississippi River
St. Paul is home to 21,000+ high-paying government jobs, nearly 50,000 college students, and 15,000+ hospital employees
Access to entertainment venues such as CHS Field, Grand Casino Arena, and Downtown Saint Paul's exquisite dining options