Multifamily W Minnesota

Marcus & Millichap sells 18-unit apartment property in Minnesota

  

Marcus & Millichap sold 428 Holly, an 18-unit apartment property in Mankato, Minnesota. The asset sold for $1.027 million.

Chris Collins, Mox Gunderson, Dan Linnell and Josh Talberg, investment specialists in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller, a private investor. The investment pros secured the buyer, too, also a private investor.

428 Holly is located at 428 Holly Lane in Mankato. The property was built in 1968 and consists of two one-bedroom units and 16 two-bedroom units. Some capital improvements completed in the last five years include: new water heaters, parking surface, and a new roof.