Gammon 6 LLC Purchases Fourth Avenue Apartments In Stevens Point From Hastings Property Group LLC For $2.05M

The property involved in this transaction is a multifamily asset known as Fourth Avenue Apartments, located at 1601 4th Avenue in Stevens Point, Wisconsin. The sale price was $2,050,000, with a total of 24 units, resulting in a price per unit of $85,417. The market activity in Stevens Point underscores a strong interest from investors, particularly as 13 of the units have been recently renovated and the property is in proximity to the University of Wisconsin-Stevens Point.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,050,000
• Address: 1601 4th Avenue
• Market: Stevens Point, WI
• Units: 24
• PPU: $85,417
• Buyer: Gammon 6 LLC
• Seller: Hastings Property Group LLC
• Broker Representatives: Dan Bowar & Matthew Gordon - Marcus & Millichap

Dan Bowar and Matthew Gordon from Marcus & Millichap represented Hastings Property Group LLC in the transaction, facilitating the sale to the buying entity Gammon 6 LLC. This engagement reflects a continual trend of activity within the Stevens Point market, further influenced by the recent renovations to the property and its strategic location near a major university.