Press Releases
Marcus & Millichap Arranges $7.3M Sale of 60-Unit Apartment Property in Minnesota
February 04, 2025
COON RAPIDS, Minn., Feb. 4, 2025 – 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 Crest Oak Apartments, a 60-unit multifamily property located in Coon Rapids, Minnesota. The property sold for $7.3 million, or $121,667 per unit.
“This was the fourth property in a four-building portfolio we closed for the seller,” said Abe Roberts, senior vice president. “We had great interest from many parties. Ultimately, a 1031 exchange buyer was awarded the project and closed in a timely manner.”
Roberts and Michael Jacobs, investment specialists in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller.
Located at 9900-30 Bluebird St. N.W., Crest Oak features a mix of one-, two- and three-bedroom units across 47,150 rentable square feet. Built in 1972, the 3.93-acre property is within walking distance of the Mississippi River and near Highway 10.
“This was the fourth property in a four-building portfolio we closed for the seller,” said Abe Roberts, senior vice president. “We had great interest from many parties. Ultimately, a 1031 exchange buyer was awarded the project and closed in a timely manner.”
Roberts and Michael Jacobs, investment specialists in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller.
Located at 9900-30 Bluebird St. N.W., Crest Oak features a mix of one-, two- and three-bedroom units across 47,150 rentable square feet. Built in 1972, the 3.93-acre property is within walking distance of the Mississippi River and near Highway 10.
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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, 2024, the company had 1,712 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
