Medicine Lake Apartments

1300 West Medicine Lake Drive, Plymouth, MN, 55441, US

形容

Jones Lang LaSalle (JLL) exclusively presents Medicine Lake Apartments, a trophy lakefront community gracing the shores of prestigious Medicine Lake in Plymouth, MN - consistently ranked #1 in Best Places to Live in Minnesota (US News). The property has been exceptionally maintained for over three decades by generational ownership, features 12 private boat slips, and delivers an unrivaled living experience in one of the Twin Cities' most sought-after enclaves.

Positioned well below replacement cost in an impossible-to-replicate location, Medicine Lake represents both a stabilized asset with value-add potential through strategic unit renovations and capturing premium value from $1M+ views. Market analysis suggests potential rent increases of $200-$300+ per unit post-renovation, with projected ROI exceeding 20% on targeted upgrades.

In addition to its scenic lakefront surroundings, the asset enjoys close proximity to several significant demand drivers, including the Wayzata School District, three major headquarters within a 15-minute drive (General Mills, Target, and Cargill), along with Boston Scientific's new 400,000 SF expansion and the expanding med-tech cluster. The property is also uniquely positioned on the Luce Line/Medicine Lake trail, a massive trail crossroads providing immediate, paved access to hundreds of miles of interconnected paths. These routes provide direct access to major destinations like Elm Creek Park Reserve, the Minneapolis Grand Rounds, and the 63-mile Luce Line State Trail - a premium amenity in one of the nation's premier biking and wellness destinations.

Offered free and clear of debt or by assuming the existing financing, it stands as a flagship property for those seeking to invest in a lakeside community with value-add upside and unmatched long-term appreciation potential for decades to come.

...

特性

ユニット数

稼働率

95%

竣工年

1977

賃貸可能面積

7,150 ㎡

メディア

投資のハイライト

Meticulously Maintained Asset with Value-Add Potential

Generational ownership of three decades – meticulously maintained and operated
Top-tier amenity package includes a 24-hour fitness center, sauna, outdoor pool, sport court, boat slips, and resident clubroom
Comps are exceeding rents at Medicine Lake by $225 for one-bedrooms and $600 for two-bedrooms
Substantial value-add potential; market analysis indicates potential for rent increases of $200-$300 per unit post-renovation, with projected ROI exceeding 20%
Twelve boat slips generate an additional $10-15K in income

Premier Submarket with Exceptional Demographic Profile

Trophy lakefront asset in premium submarket – surrounded by $1M+ homes in top-ranked city recently voted Best-Places-to-Live in MN (U.S. News)
Wayzata School District – one of the highest-ranked school districts in the state
Average household income surpassing $180,000 within Plymouth
Demand drivers include top-tier recreational, shopping, and employment opportunities, including General Mills, Cargill, and Polaris
Located in the Twin Cities Northwest submarket, home to the #1 health technology cluster in the world, including Boston Scientific’s new 400,000-square-foot facility

Compelling Market Fundamentals and Revenue Growth Trajectory

Minneapolis-St. Paul's 2025 deliveries and units under construction supply represents 3.4% of its existing inventory – 36% less than the average of the top 50 U.S. markets.
Since 2010, the Plymouth population has outpaced unit deliveries by 9,730 (1,100%)
Currently, there are zero units under construction within a 3-mile radius of Medicine Lake, and the stabilized comp set is averaging 90%+ occupancy
Strong property momentum with rent increases averaging 4.0% on recent renewals and trade-outs