Three-Unit Apartment
For Sale
$334,900
155 4th Ave Sw, Perham, MN 56573
Downtown multifamily property with private entrances and dedicated off-street parking for each residence.
Property Size2,412 SF
Price / SF$138.85
Days on Market72
Property Features for 155 4th Ave Sw
General Information
Standard status
Active
Size
2,412 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,532
Amenities
private entrance
Building Details
Buildings
1
Listing Agency:
eXp Realty
(320) 500-4397
Listed By:
Stephen Sweere
(218) 298-0771
Source:
Exprealty
Added: Jul 31
Changed: Oct 6
Last Checked: Oct 9 at 8:42PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This 2,412-square-foot triplex contains three apartment units, each with a separate private entrance. Dedicated off-street parking serves the property and provides a practical amenity for residents.
The building is located in downtown Perham, within walking distance of local shops, restaurants, services, and employers. Its central setting places daily destinations close to the residences and supports convenient access to the surrounding community.
The building is located in downtown Perham, within walking distance of local shops, restaurants, services, and employers. Its central setting places daily destinations close to the residences and supports convenient access to the surrounding community.
Key Highlights
- Three‑unit apartment building totaling 2,412 square feet
- Each unit has its own private entrance
- Dedicated off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,210
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$404,200
$404.2K
Cap Rate 7%
$288,714
$288.7K
Cap Rate 9%
$224,556
$224.6K
Market Conditions
NOI Build-Up for 2,412 SF
Gross rent
$30.4K $12.60/SF
− Vacancy
−$1.5K −$0.63/SF
EGI
$28.9K $11.97/SF
− OpEx
−$8.7K −$3.59/SF
NOI
$20.2K $8.38/SF
Area
Otter Tail County, MN
Vacancy
5.00%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$404,200
Cap Rate 7%
$288,714
Cap Rate 9%
$224,556
Alternative Uses
Best Use
Multifamily LT 5
$288.7K
$252.6K – $336.8K
NOI $20,210 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$267.1K
$233.7K – $311.7K
NOI $18,699 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$524.0K
$458.5K – $611.3K
NOI $36,678 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
504
Businesses Nearby
Explore this area
Business Placement
Demographics for 56573, MN
7,066
Population
3,632
Households
1.9
Avg Household Size
42
Median Age
29%
College-Educated
91%
High-School Grad
137.5 sq mi
ZIP Area
51
Density / Sq Mi
$68,080
Median Household Income
$44,945
Median Earnings
$805
Median Rent
$256,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Downtown multifamily property with private entrances and dedicated off-street parking for each residence.
Where is this triplex located?
The property is located at 155 4th Ave Sw Perham, MN.
What is the asking price?
The asking price for this property is $334,900.
What are key features of this property?
This property features: Three‑unit apartment building totaling 2,412 square feet; Each unit has its own private entrance; Dedicated off‑street parking
