We describe the manufacturing process for and structure of a CPP MTJ MRAM unit cell that utilizes transfer of spin angular momentum as a mechanism for changing the magnetic moment direction of a free layer. The cell is formed of a vertically or horizontally series connected sequence of N sub-cells, each sub-cell being an identical MTJ element. A statistical population of such multiple sub-cell unit cells has a variation of resistance that is less by a factor of N−1/2 than that of a population of single sub-cells. As a result, such unit cells have an improved read margin while not requiring an increase in the critical switching current.