Marcus & Millichap brokered the sale of Pleasant View Apartments, a 34-unit multifamily property in Minneapolis. The property sold for $3.15 million, or $92,647 per unit.
Michael Jacobs, Abe Roberts and Tommy Hartwell, investment specialists in Marcus & Millichap’s Minneapolis office, procured the buyer, a local family office. The buyer plans to hold the property as a long-term investment and implement capital improvements to enhance its appeal and overall performance.
Pleasant View Apartments is situated on 0.45 acres at 2216 Pleasant Ave. Built in 1968, the property features a mix of studio and one-bedroom units totaling 21,600 rentable square feet, along with 17 garage parking spaces. The property is within walking distance of Washburn Fair Oaks Park and the Minneapolis Institute of Art.
