Marcus & Millichap negotiated the sale of Santiago Apartments, a 23-unit multifamily property in Minneapolis, Minnesota, for $2.6 million.
Abe 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, MBR Investments, and procured the buyer, an entity related to Irving properties.
Santiago Apartments is located on a 0.5-acre lot at 516 University Ave. SE in the St. Anthony Main/Marcy-Holmes neighborhood, near the Minneapolis riverfront and the University of Minnesota. Built in 1923, the property includes a mix of studio, one- and two-bedroom floor plans across 11,394 rentable square feet.
