Marcus & Millichap Sells Central Park Apartments In Racine For $4.5 Million With 48 Units

The property involved in the transaction is a multifamily asset located at 4217 Durand Avenue in Racine, WI. The sale price for the property was $4,500,000, comprising 48 units. The total square footage of the asset is 45,600, resulting in a price per unit of $93,750 and a price per square foot of $99.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $4,500,000
• Units: 48
• Square Feet: 45,600
• Price Per Unit: $93,750
• Price Per Square Foot: $99
• Market: Racine, WI
• Sale Date: 01/21/2025

Eric Bell and Jordan Callaway from Marcus & Millichap represented the seller in the transaction, facilitating the deal and securing the buyer who assumed a 3.07% Freddie Mac loan.