Building Details

Year built 1920

Number of units 4

Building materials Wood Frame

Roof type Metal

Listing Agency: Grand Properties Real Estate Show Phone

Listed By: Jason Sheiman · License #20564640 Show Phone

Added: Sep 11 Changed: Sep 13 Last Checked: Sep 13 at 11:06AM

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MLS# 150670

Copyright © 2026 Range Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This 2,200-square-foot quadplex in Biwabik, Minnesota, contains four apartments: two two-bedroom units, one one-bedroom unit, and one efficiency. The property was built in 1920 with wood-frame construction and features a metal roof, blown-in attic insulation, and a parking lot. Heating includes natural gas, electric heating, and forced air.

Recent improvements include three water heaters installed within the last three years, an updated natural-gas furnace, and electrical service converted to breakers. Wiring has also been run for a potential laundry room. The property is currently operated as a long-term rental, with tenants covering utilities and heat through rent. Existing leases are month-to-month or approaching expiration, and the property information identifies short-term rental use as another option. Zoning is listed as Apart.

Key Highlights

• Four‑unit layout with two two‑bedroom apartments, one one‑bedroom apartment, and one efficiency
• 2,200 square feet on a 0.05‑acre parcel
• Three new water heaters installed in the last three years

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Plumbing Service HVAC Service Bakery Storage Facility Cafe & Coffee Shop Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

50%

Occupancy

Location Intelligence

Trade Area within ½ mile

104

Businesses Nearby

Explore this area Business Placement

Demographics for 55708, MN

917

Population

425

Households

2.2

Avg Household Size

47

Median Age

32%

College-Educated

98%

High-School Grad

4.8 sq mi

ZIP Area

191

Density / Sq Mi

$68,859

Median Household Income

$48,000

Median Earnings

$736

Median Rent

$107,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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What type of property is this? Where is this quadplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Quadplex - Four-unit residential property with flexible rental use and recent mechanical and electrical improvements.

Where is this quadplex located?

The property is located at 110 3rd Ave N Biwabik, MN.

What is the asking price?

The asking price for this property is $160,000.

What are key features of this property?

This property features: Four‑unit layout with two two‑bedroom apartments, one one‑bedroom apartment, and one efficiency; 2,200 square feet on a 0.05‑acre parcel; Three new water heaters installed in the last three years