Building Details

Year Built 1977

Buildings 2

Listing Agency: Anchor Realty

Listed By: Chessica L Olson Show Phone

Source: Searchhousesnow

Added: Jul 26 Changed: Oct 3 Last Checked: Oct 7 at 4:34PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Anchor Realty

Investment Insights

Based on property information with market context.

This four-unit multifamily property in Babbitt includes an owner’s residence alongside three additional units. The layout supports either owner occupancy with rental units on site or operation as a fully income-producing property. Detached garages add supplemental utility, while residents have access to a shared laundry area; the owner’s unit includes private laundry and a gas fireplace.

Both buildings have received roof replacements, along with siding updates and fresh exterior paint. Newer windows and other improvements contribute to the property’s updated condition. Built in 1977, the property is located at 12 Linney St near lakes, parks, snowmobile trails, ATV trails, and other outdoor recreation in the surrounding area.

Key Highlights

• Four‑unit multifamily property with an owner’s unit and three additional rental units
• Roof replacements completed on both buildings
• Updated siding and fresh exterior paint

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$30,833

Cap Rate

7.25%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$616,660 $616.7K

Cap Rate 7%

$440,471 $440.5K

Cap Rate 9%

$342,589 $342.6K

Market Conditions

NOI Build-Up for 3,460 SF

Gross rent

$46.7K $13.50/SF

− Vacancy

−$2.7K −$0.77/SF

EGI

$44.0K $12.73/SF

− OpEx

−$13.2K −$3.82/SF

NOI

$30.8K $8.91/SF

Area

St. Louis County, MN

Vacancy

5.70%

Lease Rate

$13.50 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$616,660

Cap Rate 7%

$440,471

Cap Rate 9%

$342,589

Alternative Uses

Best Use

Multifamily LT 5

$440.5K

$385.4K – $513.9K (±1% cap)

NOI $30,833 @ 7.0% cap · market cap 7.25%

Second Best

Apartment 5plus

$404.8K

$354.2K – $472.3K (±1% cap)

NOI $28,335 @ 7.0% cap · market cap 6.67%

Theoretical Best

Specialty Retail

$1.34M

$1.17M – $1.57M (±1% cap)

NOI $93,953 @ 7.0% cap · market cap 22.11%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Building Supply Real Estate Agency Dental Office Auto Repair Shop Restaurant Law Firm

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

Location Intelligence

Trade Area within ½ mile

97

Businesses Nearby

Explore this area Business Placement

Demographics for 55706, MN

1,738

Population

1,132

Households

1.5

Avg Household Size

54

Median Age

22%

College-Educated

93%

High-School Grad

135.2 sq mi

ZIP Area

13

Density / Sq Mi

$60,096

Median Household Income

$40,888

Median Earnings

$726

Median Rent

$107,600

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?

Frequently Asked Questions

What type of property is this?

Quadplex - Babbitt multifamily property with private and shared laundry, detached garages, and recent exterior improvements.

Where is this quadplex located?

The property is located at 12 Linney St Babbitt, MN.

What is the asking price?

The asking price for this property is $425,000.

What are key features of this property?

This property features: Four‑unit multifamily property with an owner’s unit and three additional rental units; Roof replacements completed on both buildings; Updated siding and fresh exterior paint