Four-Unit Apartment
For Sale
$575,000
8843 18th Ave S, Bloomington, MN 55425
Updated building systems and a practical unit mix support residential income use in Bloomington.
Property Size3,128 SF
Price / SF$183.82
Days on Market55
Property Features for 8843 18th Ave S
General Information
Standard status
Active
Size
3,128 SF
Property subtype
Multi-Family
Units
Unit Mix
3 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
4
Building Details
Year Built
1962
Buildings
1
Listing Agency:
Edina Realty, Inc.
Listed By:
Jesse R. Steed
(507) 645-4491
Source:
Tayloronken
Added: Aug 12
Changed: Sep 30
Last Checked: Oct 4 at 1:00PM
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 Edina Realty, Inc.
Investment Insights
Based on property information with market context.
Located at 8843 18th Ave S in Bloomington, MN, this four-unit apartment property contains three two-bedroom, one-bath apartments and one one-bedroom, one-bath apartment. The 3,128-square-foot building offers a varied configuration within a compact multifamily asset.
Recent property work includes a roof replacement in 2023, a water heater installed in 2024, a dryer added in 2024, and a washer replaced in 2021. HVAC and plumbing repairs have also been completed. Exterior trim is scheduled as painted in 2026, while tree removal has addressed site safety and exterior appearance.
Recent property work includes a roof replacement in 2023, a water heater installed in 2024, a dryer added in 2024, and a washer replaced in 2021. HVAC and plumbing repairs have also been completed. Exterior trim is scheduled as painted in 2026, while tree removal has addressed site safety and exterior appearance.
Key Highlights
- Four units: three 2‑bedroom, 1‑bath apartments and one 1‑bedroom, 1‑bath apartment
- 3,128‑square‑foot apartment building at 8843 18th Ave S, Bloomington, MN
- New roof completed in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,536
Cap Rate
7.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$810,720
$810.7K
Cap Rate 7%
$579,086
$579.1K
Cap Rate 9%
$450,400
$450.4K
Market Conditions
NOI Build-Up for 3,128 SF
Gross rent
$61.9K $19.80/SF
− Vacancy
−$4.0K −$1.29/SF
EGI
$57.9K $18.51/SF
− OpEx
−$17.4K −$5.55/SF
NOI
$40.5K $12.96/SF
Area
Hennepin County, MN
Vacancy
6.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$810,720
Cap Rate 7%
$579,086
Cap Rate 9%
$450,400
Alternative Uses
Best Use
Multifamily LT 5
$579.1K
$506.7K – $675.6K
NOI $40,536 @ 7.0% cap · market cap 7.05%
Second Best
Apartment 5plus
$522.3K
$457.0K – $609.4K
NOI $36,561 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$746.3K
$653.0K – $870.7K
NOI $52,239 @ 7.0% cap · market cap 9.09%
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
329
Businesses Nearby
Explore this area
Business Placement
Demographics for 55425, MN
10,281
Population
4,671
Households
2.2
Avg Household Size
37
Median Age
33%
College-Educated
90%
High-School Grad
4.5 sq mi
ZIP Area
2,285
Density / Sq Mi
$68,517
Median Household Income
$41,509
Median Earnings
$1,537
Median Rent
$312,900
Median Home Value
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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 - Updated building systems and a practical unit mix support residential income use in Bloomington.
Where is this quadplex located?
The property is located at 8843 18th Ave S Bloomington, MN.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Four units: three 2‑bedroom, 1‑bath apartments and one 1‑bedroom, 1‑bath apartment; 3,128‑square‑foot apartment building at 8843 18th Ave S, Bloomington, MN; New roof completed in 2023
