Historic Brownstone Apartment
For Sale
Contact for pricing
731 East 1st Street, Duluth, MN 55802
Five-building historic brownstone apartment complex near downtown Duluth and Lake Superior, featuring large units and period details.
Property SizeContact for details
Days on Market146
Property Features for 731 East 1st Street
General Information
Standard status
Active
Property subtype
Multifamily
Additional Details
Cap Rate
6.8%
Building Details
Construction
brownstone
Listing Agency:
Colliers International Minneapolis
Listed By:
Adam Haydon · License #40646599
Source:
Crexi
Added: Apr 10
Changed: Aug 8
Last Checked: Jul 23 at 5:25PM
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 Colliers International Minneapolis
Investment Insights
Based on property information with market context.
Berkshire Apartments is a historic brownstone apartment complex comprising five buildings located in Duluth, Minnesota. The offering highlights original character throughout, including marbled lobbies, hallways with original light fixtures from the early 1900s, and large units featuring hardwood floors, crown-molding, and fireplaces. The property’s apartment layouts are described as including larger unit sizes up to 1,200 and 1,300 square feet.
According to the remarks, the complex is located one block to Lake Superior and less than one-half mile to downtown Duluth, with proximity to Canal Park and The Lakewalk on Lake Superior.
The remarks state the property is being offered for the first time in over 50 years. For investors, the materials describe the ability to operate the asset in its current form while adjusting renewals and new residents, as well as a potential to renovate common areas and select unit components. The provided investment highlights include an end-of-year one CAP rate of 6.8% and end-of-year one total return of 14%.
According to the remarks, the complex is located one block to Lake Superior and less than one-half mile to downtown Duluth, with proximity to Canal Park and The Lakewalk on Lake Superior.
The remarks state the property is being offered for the first time in over 50 years. For investors, the materials describe the ability to operate the asset in its current form while adjusting renewals and new residents, as well as a potential to renovate common areas and select unit components. The provided investment highlights include an end-of-year one CAP rate of 6.8% and end-of-year one total return of 14%.
Key Highlights
- Five‑building historic brownstone apartment complex in Duluth, MN
- Large units with hardwood floors, crown molding, and fireplaces; unit sizes up to 1,200 & 1,300 SF
- End of Year One cap rate of 6.8% and End of Year One total return of 14%
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,153
Businesses Nearby
Explore this area
Business Placement
Demographics for 55802, MN
2,544
Population
1,529
Households
1.7
Avg Household Size
54
Median Age
45%
College-Educated
90%
High-School Grad
2.6 sq mi
ZIP Area
978
Density / Sq Mi
$40,850
Median Household Income
$42,266
Median Earnings
$596
Median Rent
$479,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five-building historic brownstone apartment complex near downtown Duluth and Lake Superior, featuring large units and period details.
Where is this apartment building located?
The property is located at 731 East 1st Street Duluth, MN.
What are key features of this property?
This property features: Five‑building historic brownstone apartment complex in Duluth, MN; Large units with hardwood floors, crown molding, and fireplaces; unit sizes up to 1,200 & 1,300 SF; End of Year One cap rate of 6.8% and End of Year One total return of 14%
