Marcus & Millichap has brokered the sale of a 49-unit multifamily portfolio in Ellsworth and Baldwin, Wisconsin. The properties sold for $5.8 million.
The subject portfolio includes 25 units across five buildings in Ellsworth, with a mix of 16 two-bedroom, eight one-bedroom and one studio units; as well as two buildings in Baldwin, comprised of 24 two-bedroom units. Both properties are within an hour of the Minneapolis-St. Paul metro area.
“With top rents in their respective submarkets, the buyer is well-positioned to maximize value on this long-term hold,” said Scott M. Anderson, senior associate. “There’s never been a better time for sellers to transact—and for buyers, this is a rare opportunity to get in submarkets like these and get ahead of what we believe is the region’s next ‘wave of growth.”
Anderson, a multifamily investment specialist in Marcus & Millichap’s Minneapolis office, had the exclusive listing to market the portfolio on behalf of the seller and procured the buyer. Both parties involved in the transaction are Wisconsin-based investors. Todd Lindblom is the firm’s broker of record in Wisconsin.
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