Investment Overview

Marcus & Millichap is pleased to announce the exclusive listing of Green Acres Apartments, a 149-unit apartment community located in East Grand Forks, Minnesota. Green Acres is being offered for sale on a free-and-clear basis. Constructed in 1977-1982, Green Acres sits on 7.58 acres and consists of 10 apartment buildings and five garage buildings, totaling 149 apartment homes. The unit mix features 30 one-bedroom/one-bathroom units averaging of 625 square feet, 110 two-bedroom/one-bathroom units averaging of 963 square feet, and 9 three-bedroom/one-bathroom units averaging 1,060 square feet. Property amenities include a fully equipped health club featuring a sauna, racquetball court and tanning bed, an on-site swimming pool with sun deck, courtyard, grill/picnic area, and garages available for additional rental income. The units themselves have nine different layouts varying in size, amenities, and upgrades. Renovations include modern updates to flooring, appliances, countertops, & fixtures throughout. Located in the northern part of East Grand Forks, Green Acres neighbors Country View Apartments and is near many restaurants, businesses, and schools. Less than 1 mile away sits East Grand Forks Civic Center (0.3 miles), Northland Community and Technical College (0.4 miles), Hugo’s Family Marketplace Grocery Store (0.6 miles), and East Grand Forks High School (0.8 miles). Furthermore, Green Acres is a short 9-minute drive to the University of North Dakota and is near everything else Grand Forks has to offer.