The sale of Birmingham Heights, a 28-unit apartment complex in St. Paul, Minnesota was recently brokered by Marcus & Millichap for $3,640,000 or $130,000 per unit. According to associate Matt Shide: “This is the highest price per unit achieved for a property of this age and location in recent years,” showcasing both the strong demand for multifamily properties in St. Paul and our team’s expertise in maximizing value for our clients.
Shide worked alongside Evan Miller, Chris Collins, Eric Wagner and Zack Olson to exclusively list the property on behalf of a local owner from St. Paul. The buyer was an out-of-state exchange investor looking to expand their portfolio with apartments throughout Minnesota. Jon Ruzicka also played a role as Broker of Record in Minnesota during the closing process.
Birmingham Heights is situated at 1424 Case Avenue E within St.Paul’s Greater East Side Neighborhood and was built back in 1983 on 2.04 acres of land featuring twenty-eight three-bedroom units.
