Six-Unit Apartment
For Sale
$699,000
1530-1532 E 1st St, Duluth, MN 55812
Six-unit property with separate electrical service for each apartment and off-street parking.
Property Size4,566 SF
Price / SF$153.09
Days on Market78
Property Features for 1530-1532 E 1st St
General Information
Standard status
Active
Size
4,566 SF
Additional Details
Public Transit
Yes
Multifamily Units
6
Building Details
Year Built
1891
Listing Agency:
RE/MAX Results Duluth
Listed By:
Mark Sams · License #40913067
(218) 393-4414
Source:
Chrisfritchteam
Added: Jul 20
Changed: Oct 2
Last Checked: Oct 4 at 1:15PM
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 RE/MAX Results Duluth
Investment Insights
Based on property information with market context.
This six-unit apartment building contains 4,566 square feet and was constructed in 1891. Each apartment has separate electrical service, supporting straightforward utility management. Property improvements include a newer roof, and the building has been maintained over time.
The property includes off-street parking and is located in Duluth near shopping, dining, public transportation, and other local amenities. Its six-apartment configuration provides a clearly defined multifamily layout with established residential use.
The property includes off-street parking and is located in Duluth near shopping, dining, public transportation, and other local amenities. Its six-apartment configuration provides a clearly defined multifamily layout with established residential use.
Key Highlights
- Six‑unit apartment building with 4,566 square feet
- Separate electrical service for each unit
- Newer roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,392
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$747,840
$747.8K
Cap Rate 7%
$534,171
$534.2K
Cap Rate 9%
$415,467
$415.5K
Market Conditions
NOI Build-Up for 4,566 SF
Gross rent
$72.3K $15.84/SF
− Vacancy
−$4.3K −$0.95/SF
EGI
$68.0K $14.89/SF
− OpEx
−$30.6K −$6.70/SF
NOI
$37.4K $8.19/SF
Area
St. Louis County, MN
Vacancy
6.00%
Lease Rate
$15.84 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$747,840
Cap Rate 7%
$534,171
Cap Rate 9%
$415,467
Alternative Uses
Best Use
Apartment 5plus
$534.2K
$467.4K – $623.2K
NOI $37,392 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.77M
$1.55M – $2.07M
NOI $123,986 @ 7.0% cap · market cap 17.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,658
Businesses Nearby
Explore this area
Business Placement
Demographics for 55812, MN
10,571
Population
3,954
Households
2.7
Avg Household Size
27
Median Age
60%
College-Educated
98%
High-School Grad
1.9 sq mi
ZIP Area
5,564
Density / Sq Mi
$66,961
Median Household Income
$16,485
Median Earnings
$1,216
Median Rent
$301,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit property with separate electrical service for each apartment and off-street parking.
Where is this apartment building located?
The property is located at 1530-1532 E 1st St Duluth, MN.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Six‑unit apartment building with 4,566 square feet; Separate electrical service for each unit; Newer roof
