Marcus & Millichap Brokers $3.3M Sale of Multifamily Property in Wyoming, Michigan

by Kristin Harlow

WYOMING, MICH. — Marcus & Millichap has brokered the $3.3 million sale of Gardentown Apartments in Wyoming near Grand Rapids. The 40-unit multifamily property, built between 1966 and 1968, consists of four buildings. The asset was 90 percent occupied at the time of sale. Chase Gilewski and Chris Futo of Marcus & Millichap represented the seller. Steve Chaben, broker of record in Michigan, assisted in closing the transaction. The buyer is planning to invest significant capital on both interior and exterior renovations. Both the buyer and seller completed 1031 exchanges.

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