Marcus & Millichap Sells 53-Unit Multifamily Property In Saint Paul, Minnesota For $5.01M
985 East Ivy Avenue
$5,010,000
Building Size
—
Asset Type
MultiFamily
Closing
Sep 27, 2023
AI
A 53-unit multifamily property located at 985 Ivy Avenue E in Saint Paul, Minnesota, has been sold for $5,010,000. The property was handled by Abe Roberts and Michael Jacobs of Marcus & Millichap's Minneapolis office.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,010,000
- Units: 53
- Price Per Unit: $94,528
- Brokers: Abe Roberts & Michael Jacobs - Marcus & Millichap
Marcus & Millichap, a commercial real estate brokerage firm, successfully facilitated the sale of the multifamily property. The transaction was led by Abe Roberts and Michael Jacobs, representing Marcus & Millichap's Minneapolis office.
Players
Saint Paul MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.17%
Cash-on-Cash
-0.90%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93