Quadplex with Detached
New
For Sale
$425,000
12 Linney St, Babbitt, MN 55706
MULTI FAMILY, Babbitt, MN
Property Size3,460 SF
Price / SF$122.83
Days on Market4
Property Features for 12 Linney St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
multi
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 4, Bathroom 3, Bedroom 5, Bedroom 8, Bedroom 1, Bedroom 7, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 6
Parking features
Garage, Parking Lot
Patio and Porch features
Patio, Deck
Exterior features
Deck, Garage, Patio
Elementary school district
Babbitt
Middle school district
Babbitt
High school district
Babbitt
Subdivision
Babbitt
Standard status
Active
Size
3,460 SF
Utilities
Heating system
Forced Air, Electric (Heating), Natural Gas
Cooling system
Window Unit(s), Ceiling Fan(s)
Amenities
shared tenant laundry
Building Details
Year built
1977
Number of units
4
Building materials
Concrete Block
Roof type
Asphalt
Listing Agency:
Anchor Realty
(612) 501-2878
Listed By:
Chessica Olson
(763) 257-5080
Added: Oct 2
Last Checked: Oct 5 at 1:06PM
MLS# 149615
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 3,460-square-foot quadplex contains four apartments, all currently rented. Built in 1977, the property includes detached garages, shared tenant laundry, and outdoor deck and patio areas. The owner's apartment has private laundry and a gas fireplace.
Recent work includes replacement roofs on both buildings, updated siding, exterior painting, and newer windows. Heating is provided by forced air, electric, and natural gas; cooling features include window units and ceiling fans. The property is in Babbitt, near lakes, parks, and snowmobile and ATV trails.
Recent work includes replacement roofs on both buildings, updated siding, exterior painting, and newer windows. Heating is provided by forced air, electric, and natural gas; cooling features include window units and ceiling fans. The property is in Babbitt, near lakes, parks, and snowmobile and ATV trails.
Key Highlights
- Four apartments; all are currently rented
- 3,460 square feet; built in 1977
- Detached garages and shared tenant laundry
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
NOI $30,833 @ 7.0% cap · market cap 7.25%
Second Best
Apartment 5plus
$404.8K
$354.2K – $472.3K
NOI $28,335 @ 7.0% cap · market cap 6.67%
Theoretical Best
Specialty Retail
$1.34M
$1.17M – $1.57M
NOI $93,953 @ 7.0% cap · market cap 22.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four rented apartments provide an established residential rental configuration with shared laundry.
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 apartments; all are currently rented; 3,460 square feet; built in 1977; Detached garages and shared tenant laundry
