Press Releases
Marcus & Millichap Closes Minneapolis Apartment Asset Sale
November 17, 2023
Minneapolis Minn., November 17, 2023 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 1707 Tatum Street, a multifamily community totaling 11 units in the City of Falcon Heights, MN, according to Todd E. Lindblom, regional manager of the Minneapolis office. The property sold for $1,200,000.
Michael Jacobs, Senior Associate, and Abe Roberts, Senior Vice President Investments, in Marcus & Millichap’s Minneapolis office had the exclusive listing to market the property on behalf of the seller and procured the buyer.
Constructed in 1965 and situated on a 0.41-acre lot, this asset features eight one-bedroom and three two-bedroom residences. Nestled in the heart of Falcon Heights, mere blocks north of the University of Minnesota St. Paul Campus, this property strategically capitalizes on high rental demand in the area. As an added convenience the property is located a short walk from the University of Minnesota Les Bolstad Public Golf Course and the Falcon Heights Community Park, each providing a range of outdoor amenities for residents of the Tatum Street Apartments.
Michael Jacobs, Senior Associate, and Abe Roberts, Senior Vice President Investments, in Marcus & Millichap’s Minneapolis office had the exclusive listing to market the property on behalf of the seller and procured the buyer.
Constructed in 1965 and situated on a 0.41-acre lot, this asset features eight one-bedroom and three two-bedroom residences. Nestled in the heart of Falcon Heights, mere blocks north of the University of Minnesota St. Paul Campus, this property strategically capitalizes on high rental demand in the area. As an added convenience the property is located a short walk from the University of Minnesota Les Bolstad Public Golf Course and the Falcon Heights Community Park, each providing a range of outdoor amenities for residents of the Tatum Street Apartments.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
