Marcus & Millichap closed the sale of Kestrel Pines Townhomes, a 30-unit apartment property in Bemidji, Minnesota. The asset sold for $1.7 million.
Chris Collins and Evan Miller, investment specialists in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was also secured by Collins and Miller.
Kestrel Pines Townhomes is located at 906 26th St NW in Bemidji. Constructed in 2005, the townhomes sit on 3.25 total acres and feature 17 two-bedroom/1.5-bathroom units and 13 three-bedroom/1.5-bathroom units. The property includes 30 garage spaces, ample off-street parking, and individual patios. The units themselves include washers and dryers in each unit.
