**Marcus & Millichap Arranges Sale of 48-Unit Multifamily Property in Saint Paul for $8M**
Marcus & Millichap has successfully completed the sale of The Jax, a 48-unit multifamily property located in the Lowertown neighborhood of Saint Paul, Minnesota. The transaction closed for $8 million.
“The St. Paul market, and specifically the Lowertown area, has seen a noticeable uptick in sales activity over the past year,” said Chris Collins, First Vice President Investments with Marcus & Millichap. “Many investors are drawn to the market’s long-term appeal, and The Jax presented a rare opportunity to acquire a fully renovated, loft-style asset in a highly desirable location.”
Collins, along with Evan Miller, Eric Wagner, and Matt Shide — investment specialists in Marcus & Millichap’s Minneapolis office — represented the seller, a local limited liability company. The team also procured the buyer, a Chicago-based investor.
Located at 253 4th Street East, The Jax is a 49,082-square-foot apartment building originally built in 1909 and fully renovated in 2019. The property offers a mix of one- and two-bedroom loft-style floor plans.
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**Upcoming Event: Connect Midwest Multifamily 2025**
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