Updated Quadplex with
For Sale
$529,999
1508 E 26th St, Minneapolis, MN 55404
Four-unit residential property with off-street parking, a recent water-heater replacement, and full occupancy.
Property Size3,124 SF
Price / SF$169.65
Days on Market75
Property Features for 1508 E 26th St
General Information
Standard status
Active
Size
3,124 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Gross Income
$69,600
Multifamily Units
4
Amenities
private off-street parking lot
Building Details
Year Built
1913
Listing Agency:
Bridge Realty, LLC
Listed By:
Benjamin Jacobs
(952) 368-0021
Source:
Vibemn
Added: Aug 2
Changed: Oct 2
Last Checked: Oct 15 at 4:08AM
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 Bridge Realty, LLC
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Investment Insights
Based on property information with market context.
This four-unit residential income property contains 3,124 square feet and was built in 1913. Recent work includes installation of a new water heater, while a private off-street parking lot serves the building. The property has remained 100% occupied over the past year and is currently fully leased.
Located at 1508 E 26th St in Minneapolis, Minnesota, the quadplex offers an established rental configuration with on-site tenant parking and a documented occupancy history.
Located at 1508 E 26th St in Minneapolis, Minnesota, the quadplex offers an established rental configuration with on-site tenant parking and a documented occupancy history.
Key Highlights
- Four‑unit residential income property
- 3,124 square feet; built in 1913
- 100% occupancy over the past year
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,644
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$912,880
$912.9K
Cap Rate 7%
$652,057
$652.1K
Cap Rate 9%
$507,156
$507.2K
Market Conditions
NOI Build-Up for 3,124 SF
Gross rent
$69.4K $22.20/SF
− Vacancy
−$4.1K −$1.33/SF
EGI
$65.2K $20.87/SF
− OpEx
−$19.6K −$6.26/SF
NOI
$45.6K $14.61/SF
Area
Minneapolis, MN
Vacancy
5.98%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$912,880
Cap Rate 7%
$652,057
Cap Rate 9%
$507,156
Alternative Uses
Best Use
Multifamily LT 5
$652.1K
$570.6K – $760.7K
NOI $45,644 @ 7.0% cap · market cap 8.61%
Second Best
Apartment 5plus
$598.9K
$524.0K – $698.7K
NOI $41,923 @ 7.0% cap · market cap 7.91%
Theoretical Best
Office A
$745.3K
$652.2K – $869.5K
NOI $52,172 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
4,403
Businesses Nearby
Explore this area
Business Placement
Demographics for 55404, MN
29,322
Population
14,372
Households
2
Avg Household Size
32
Median Age
35%
College-Educated
81%
High-School Grad
1.8 sq mi
ZIP Area
16,290
Density / Sq Mi
$43,932
Median Household Income
$35,970
Median Earnings
$1,063
Median Rent
$294,200
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
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential property with off-street parking, a recent water-heater replacement, and full occupancy.
Where is this quadplex located?
The property is located at 1508 E 26th St Minneapolis, MN.
What is the asking price?
The asking price for this property is $529,999.
What are key features of this property?
This property features: Four‑unit residential income property; 3,124 square feet; built in 1913; 100% occupancy over the past year
