Marcus & Millichap Sells Midtown Place Multifamily Property In Grand Rapids For $2.65M

The property asset involved in this transaction is a multifamily unit located at 349 Cummings Avenue Northwest, Grand Rapids, MN. The sale was completed for $2,650,000, encompassing 12 units within a total square footage of 14,280. This asset spans over 1.22 acres and features a combination of four one-bedroom and eight two-bedroom units, each equipped with attached garages.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,650,000
• Units: 12
• Price Per Unit: $220,833
• Square Footage: 14,280
• Price Per Square Foot: $186
• Brokerage: Marcus & Millichap
• Property Brokers: Chris Futo & Chase Gilewski

This transaction was brokered by Chris Futo, who marketed the property, with buyer representation provided by Chase Gilewski. The asset, known as Midtown Place, was constructed in 2020 and is part of a community that offers various amenities suitable for residents.