Updated Oct 29, 2024
Seva Inc. Acquires 66-Unit Apartment Property Near University Of Minnesota For $5.22M
727 15th Avenue Southeast Minneapolis, Minnesota 55414, Usa
$5,220,000
Units
66
Asset Type
MultiFamily
Closing
Aug 4, 2023
About this deal
AI
A 66-unit apartment property near the University of Minnesota has been sold for $5.22 million after 24 years. The property, located at 721 & 727 15th Avenue Southeast in Minneapolis, offers a multifamily asset encompassing 0.42 acres. Seva Inc., related to a private investor, bought the property from Larlee LLLP.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,220,000
- Address: 721 & 727 15th Avenue Southeast, Minneapolis
- Market: Minneapolis
- ACRES: 0.42
- Buyer: Seva Inc.
- Seller: Larlee LLLP
- Brokers: Mark Hulsey & Hayden Hulsey - ReMax Results Commercial
- Units: 66
- PPU: $79,091
The purchase was facilitated by Mark Hulsey and Hayden Hulsey from ReMax Results Commercial, who represented both the buyer and the seller in this transaction.
On the Map
$5,220,000
MultiFamily
View full map
Players
Portland MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Mark Hulsey to view all their deals.
Browse Portland multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.04%
Cash-on-Cash
-0.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93