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Fletcher Management LLC Acquires Heritage Kourt Multifamily In Edina For $3.64M
SOLD
$3,642,350
Minnesota
See Similar DealsMultiFamily
Sold 01/16/2026
SOLD
Fletcher Management LLC Acquires Heritage Kourt Multifamily In Edina For $3.64M
3105 Heritage Drive
See Similar DealsMultiFamily
Sold 01/16/2026
Summary
MINNESOTA
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$194,258.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,940.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,266.60
Annual Debt Service$207,199.17
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