Multifamily W Minnesota

Marcus & Millichap sells 24-unit apartment property in Minnesota

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Marcus & Millichap closed the sale of Cottage Grove Estates, a 24-unit apartment property located in Cottage Grove, Minnesota. The asset sold for $2.125 million.

Marcus & Millichap closed the sale of Cottage Grove Estates, a 24-unit apartment property located in Cottage Grove, Minnesota. The asset sold for $2.125 million.

Mox Gunderson, Dan Linnell and Annie Arneberg, 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 buyer, a private investor, was secured and represented by Gunderson and Linnell.

Cottage Grove Estates is located at 7505 79th St. South in Cottage Grove, Minnesota. The property consists entirely of three-bedroom, two-bathroom units, each having an attached tuck-under garage and two balconies. The 1986 construction apartment community was 100 percent occupied at the time of sale.