Fully Occupied
For Sale
$460,000
Pending
1509 14th St Nw, Rochester, MN 55901
Four residential units feature shared boiler heat, tenant-paid electric, and coin-operated common laundry.
Property Size3,290 SF
Days on Market19
Property Features for 1509 14th St Nw
General Information
Standard status
Pending
Size
3,290 SF
Property subtype
Residential Income
Occupancy
100%
Amenities
coin-operated common laundry
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Realty Growth Inc.
(507) 951-7130
Listed By:
Robert Bucky Beeman · License #40149580
(507) 951-7130
Source:
Exprealty
Added: Jul 13
Changed: Jul 31
Last Checked: Jul 31 at 3:13PM
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 Realty Growth Inc.
Investment Insights
Based on property information with market context.
This 3,290-square-foot fourplex in NW Rochester includes three 2BR/1BA units and one 1BR/1BA unit, all currently leased. The property features a durable metal roof, low-maintenance vinyl exterior with brick accents, and a shared gas-boiler heating system. Electric service is paid by tenants, while coin-operated common laundry serves the building.
Most units are on month-to-month leases, providing flexible lease management for the next owner. The unit mix combines three two-bedroom apartments with one one-bedroom apartment in a fully occupied configuration. Located at 1509 14th St Nw in Rochester, MN, the property is positioned as a four-unit residential income asset.
Most units are on month-to-month leases, providing flexible lease management for the next owner. The unit mix combines three two-bedroom apartments with one one-bedroom apartment in a fully occupied configuration. Located at 1509 14th St Nw in Rochester, MN, the property is positioned as a four-unit residential income asset.
Key Highlights
- 3,290‑square‑foot fourplex in NW Rochester
- Unit mix includes three 2BR/1BA units and one 1BR/1BA unit
- All units are currently leased
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $53.3k | $16.20 |
| − Vacancy | −$2.7k | −$0.81 |
| EGI | $50.6k | $15.39 |
| − OpEx | −$15.2k | −$4.62 |
| NOI | $35.4k | $10.77 |
3,290 SF · lease $16.20/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$506.3K
$443.0K – $590.7K
NOI $35,443 @ 7.0% cap · market cap 7.70%
Second Best
Apartment 5plus
$444.4K
$388.8K – $518.4K
NOI $31,105 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,701 @ 7.0% cap · market cap 19.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
726
Businesses Nearby
Explore this area
Business Placement
Demographics for 55901, MN
58,046
Population
24,852
Households
2.3
Avg Household Size
36
Median Age
50%
College-Educated
94%
High-School Grad
33.1 sq mi
ZIP Area
1,754
Density / Sq Mi
$90,430
Median Household Income
$52,778
Median Earnings
$1,321
Median Rent
$290,000
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?
Quadplex - Four residential units feature shared boiler heat, tenant-paid electric, and coin-operated common laundry.
Where is this quadplex located?
The property is located at 1509 14th St Nw Rochester, MN.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: 3,290‑square‑foot fourplex in NW Rochester; Unit mix includes three 2BR/1BA units and one 1BR/1BA unit; All units are currently leased
