Gustafson Sells Last Property of Cedarbrook Portfolio

Nick Gustafson recently sold a $5,764,000 multi-family portfolio that consisted of seven properties in eastern South Dakota. Gustafson represented the seller. The multi-family units consisted of Southtown (Salem), Applewood (Vermillion), Hill Center (Salem), McCormick (Bridgewater), St. Stephens (Bridgewater), Garretson 12-Plex, and Garretson 4-Plex. Southtown was the final property sold. He worked with multiple buyers to complete all transactions within ten months.

These properties ranged from 4 units to 24 units, totaling 102 units.

McCormick (8 units) – $375,000

St. Stephens (8 units) – $450,000

Garretson 4-plex & 12-plex (16 units) – $950,000

Hill Center (22 units) – $1,125,000

Southtown (24 units) – $1,400,000

Applewood (24 units) – $1,464,000

Total (102 units): $5,764,000