Fletcher Management LLC Acquires Heritage Kourt Multifamily In Edina For $3.64M
3105 Heritage Drive
$3,642,350
Building Size
—
Asset Type
MultiFamily
Closing
Jan 16, 2026
AI
A multifamily asset located at 3105 Heritage Drive in Edina, MN, encompasses 1.57 acres. The property features 33 units, with a total sale price of $3,642,350, translating to a price per unit of $110,374.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,642,350
- Address: 3105 Heritage Drive
- Market: Edina, MN
- Units: 33
- Price Per Unit: $110,374
- Buyer: Fletcher Management LLC
- Seller: Heritage Kourt LLC
- Brokers: Abe Roberts & Michael Jacobs - Marcus & Millichap
The transaction involved Fletcher Management LLC as the buyer, with Heritage Kourt LLC as the seller. The brokerage team of Abe Roberts and Michael Jacobs from Marcus & Millichap represented the seller and successfully secured the buyer for the 33-unit apartment complex.
Players
Minneapolis MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.36%
Cash-on-Cash
-1.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93