Seva Inc. Acquires 66-Unit Apartment Property Near University Of Minnesota For $5.22M

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.