Marcus & Millichap Facilitates Sale Of Mandolin Place Multifamily Property In Austin For $4.2M

The property involved in this transaction is Mandolin Place, a multifamily asset located at 203 31st Street Southwest, Austin, Minnesota. The sale was completed on November 7, 2024, for $4,200,000. The property encompasses 72 units within a total floor area of 64,481 square feet, situated on 3.5 acres. The price per unit was $58,333, while the price per square foot was $65. Built in 1994, the property features one- to three-bedroom units, with plans for upgrades by the buyer.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,200,000
• Address: 203 31st Street Southwest
• Market: Austin, MN
• Acres: 3.5
• Units: 72
• Price Per Unit: $58,333
• Square Footage: 64,481
• Price Per Square Foot: $65

The deal was facilitated by brokers Chris Collins, Eric Wagner, Evan Miller, Matt Shide, and Zack Olson from Marcus & Millichap, showcasing their expertise in the multifamily market. They played a significant role in managing the sale process and ensuring a successful transaction for the parties involved.