Marcus & Millichap Sells Crest Oak Apartments Multifamily Property In Coon Rapids Minnesota
9900 Bluebird Street Northwest
Building Size
47,150 SF
Asset Type
MultiFamily
Closing
Feb 5, 2025
AI
The transaction involved the sale of a multifamily property located at 9900-30 Bluebird Street Northwest in Coon Rapids, MN. The asset consists of 60 units and spans a total square footage of 47,150, situated on approximately 3.93 acres.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not specified
- Units: 60
- Square Footage: 47,150
- Address: 9900-30 Bluebird Street Northwest
- Market: Coon Rapids, MN
- Acres: 3.93
- Brokers: Abe Roberts & Michael Jacobs - Marcus & Millichap
The sale of Crest Oak Apartments was brokered by Marcus & Millichap, with Abe Roberts and Michael Jacobs leading the transaction for the buyer, who was participating in a 1031 exchange. This closing marked the final transaction for the seller in a four-property portfolio sale.
Players
Minneapolis 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93