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Marcus & Millichap Sells 18-Unit Multifamily Property At 3637 Bellaire Avenue For $2.46M
SOLD
$2,455,000
Minnesota
See Similar DealsMultiFamily
Sold 10/20/2025
SOLD
Marcus & Millichap Sells 18-Unit Multifamily Property At 3637 Bellaire Avenue For $2.46M
3637 Bellaire Avenue
See Similar DealsMultiFamily
Sold 10/20/2025
Summary
MINNESOTA
Asset Type:MultiFamily
Transaction Type:Sale
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.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$130,933.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,722.11
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,637.95
Annual Debt Service$139,655.43
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