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Marcus & Millichap Sells 53-Unit Multifamily Property In Saint Paul, Minnesota For $5.01M
SOLD
$5,010,000
Minnesota
See Similar DealsMultiFamily
Sold 09/27/2023
SOLD
Marcus & Millichap Sells 53-Unit Multifamily Property In Saint Paul, Minnesota For $5.01M
985 East Ivy Avenue
See Similar DealsMultiFamily
Sold 09/27/2023
Summary
MINNESOTA
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$267,199.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,799.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,749.96
Annual Debt Service$284,999.47
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