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Marcus & Millichap Sells 11-Unit Multifamily Community In Falcon Heights For $1.2M
SOLD
$1,200,000
Minnesota
See Similar DealsMultiFamily
Sold 11/02/2023
SOLD
Marcus & Millichap Sells 11-Unit Multifamily Community In Falcon Heights For $1.2M
1707 Tatum Street
See Similar DealsMultiFamily
Sold 11/02/2023
Summary
MINNESOTA
Asset Type:MultiFamily
Transaction Type:Sale
Marcus & Millichap's Minneapolis office recently closed the $1.2 million sale of Tatum Street Apartments, an 11-unit multifamily community in Falcon Heights, MN. The property, located at 1707 Tatum Street, offers a total of 11 units at an average price per unit of $109,091.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,200,000
- Units: 11
- Price Per Unit: $109,091
- Address: 1707 Tatum Street, Falcon Heights, MN
- Market: Falcon Heights, MN
The sale of Tatum Street Apartments was facilitated by brokers Abe Roberts and Michael Jacobs from Marcus & Millichap. Their expertise and representation played a crucial role in the successful completion of the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$64,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,263.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,688.61
Annual Debt Service$68,263.35
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