Six-Unit Apartment
1530-1532 E 1st Street Duluth, MN 55812
1530-1532 E 1st Street, Duluth, MN, 55812
$699,000
For Sale
$699,000
Well-maintained six-unit property with separate electrical service per unit and a newer roof.
Property Size4,566 SF
Price / SF$153.09
Days on Market24
Property Features for 1530-1532 E 1st Street
General Information
- Standard status
- Active
- Size
- 4,566 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1891
Listing agency
RE/MAX Results Duluth
(218) 393-4414
Listed by
Mark Sams · License #40913067
(218) 393-4414
Source
Juverealestate
Added: Jun 30 Updated: Jul 22 at 10:34AM Checked: Jul 22 at 10:34AM
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 well-maintained six-unit apartment building is offered for sale and maintained with a focus on long-term income performance. Each unit has its own separate electrical service, which can simplify utility management. Recent improvements include a newer roof, and the property has been consistently maintained over the years.
The building is located at 1530-1532 E 1st Street in Duluth, MN 55812. Tenants benefit from off-street parking and convenient access to shopping, dining, public transportation, and local amenities.
With a straightforward six-unit configuration and an emphasis on upkeep, the property presents a practical option for buyers looking to acquire a turnkey multi-family asset.
The building is located at 1530-1532 E 1st Street in Duluth, MN 55812. Tenants benefit from off-street parking and convenient access to shopping, dining, public transportation, and local amenities.
With a straightforward six-unit configuration and an emphasis on upkeep, the property presents a practical option for buyers looking to acquire a turnkey multi-family asset.
Key Highlights
- Six‑unit apartment building built in 1891
- Each unit has its own separate electrical service
- Newer roof with recent improvements
Local Financial Insights For Apartment 5plus
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 | $72.3k | $15.84 |
| − Vacancy | −$4.3k | −$0.95 |
| EGI | $68.0k | $14.89 |
| − OpEx | −$30.6k | −$6.70 |
| NOI | $37.4k | $8.19 |
4,566 SF · lease $15.84/SF/yr · vacancy 6.00% · expense 45.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Well-maintained six-unit property with separate electrical service per unit and a newer roof.
Where is this apartment building located?
The property is located at 1530-1532 E 1st Street 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 built in 1891; Each unit has its own separate electrical service; Newer roof with recent improvements
