Marcus & Millichap Sells 18-Unit Multifamily Property At 3637 Bellaire Avenue For $2.46M

3637 Bellaire Avenue is an 18-unit multifamily property located in White Bear Lake, Minnesota. The building spans 16,200 square feet and was sold for $2,455,000, resulting in a price per unit of $136,389. This asset has been owned and self-managed by Bellaire Apartments, LLC for the past 14 years and attracted significant investor interest due to the limited local multifamily supply.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $2,455,000
• Units: 18
• Price Per Unit: $136,389
• Address: 3637 Bellaire Avenue
• Market: White Bear Lake, MN
• Seller: Bellaire Apartments, LLC
• Brokers: Evan Miller & Chris Collins - Marcus & Millichap

Marcus & Millichap facilitated the transaction, underscoring the firm's capability in the multifamily market. The deal was characterized by strong investor interest, highlighting the appeal of the property within a competitive landscape of limited multifamily options in the area.