Riverlife Wausau, LLC Sells 75-Unit Multifamily Property In Wausau For $15 Million

The Apartments at Riverlife is a 75-unit multifamily property located at 16 Fulton Street, Wausau, Wisconsin, which has a total square footage of 72,177 and spans 0.89 acres. The property was sold for $15,000,000, translating to a price per unit of $200,000 and a price per square foot of $208. Built in 2020, this property was marketed amid a strong demand for multifamily housing due to limited supply and low vacancy rates in the region.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $15,000,000
• Address: 16 Fulton Street
• Market: Wausau, WI
• Square Footage: 72,177
• Price per Square Foot: $208
• Units: 75
• Price per Unit: $200,000
• Seller: Riverlife Wausau, LLC
• Broker: Daniel Bowar - Marcus & Millichap

Daniel Bowar, a director of investments at Marcus & Millichap, represented the seller Riverlife Wausau, LLC in this transaction, successfully procuring a buyer based in Wisconsin. The strong multifamily demand in the Wausau market played a significant role in the successful closure of this sale.