Updated 4-Unit Brick Apartment
For Sale
$949,900
2125 Harriet Avenue, Minneapolis, MN 55405
All four units are leased and have separate gas and electric meters.
Property Size5,000 SF
Price / SF$189.98
Days on Market38
Property Features for 2125 Harriet Avenue
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Multi-family
Occupancy
100%
Lease Term
[]
Site & Location
Neighborhood
Whittier
Utilities to Site
Yes
Additional Details
Multifamily Units
4
Amenities
bike racks
laundry
storage units
gas ranges
dishwashers
stainless steel appliances
paver patio
fence
landscaped
off-street parking
Building Details
Year Built
1910
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams Premier Realty Lake Minnetonka
Listed By:
Benjamin C Dzurik
(612) 751-8732
Source:
C21atwood
Added: Sep 17
Changed: Oct 16
Last Checked: Oct 23 at 10:15AM
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 Keller Williams Premier Realty Lake Minnetonka
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Investment Insights
Based on property information with market context.
This 1910 brick multifamily property contains four units and has undergone extensive recent work. Improvements include a replacement roof, windows, doors, insulation, electrical components, water heaters, flooring, and finishes. The building retains original woodwork and built-ins, and the units feature gas ranges, dishwashers, and stainless steel appliances. Two sets of Speed Queen laundry machines serve the property; lower-level storage is also available.
Three staircases and multiple access points serve the units, including entrances from a rear porch. Exterior amenities include a paver patio, fencing, landscaped grounds, and paved off-street parking. Gas and electric service are separately metered for each unit.
Three staircases and multiple access points serve the units, including entrances from a rear porch. Exterior amenities include a paver patio, fencing, landscaped grounds, and paved off-street parking. Gas and electric service are separately metered for each unit.
Key Highlights
- Four leased units with separate gas and electric meters
- Brick exterior with original woodwork and built‑ins
- Recent improvements include roof, windows, insulation, electrical work, flooring, and water heaters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,054
Cap Rate
7.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,461,080
$1.5M
Cap Rate 7%
$1,043,629
$1.0M
Cap Rate 9%
$811,711
$811.7K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$111.0K $22.20/SF
− Vacancy
−$6.6K −$1.33/SF
EGI
$104.4K $20.87/SF
− OpEx
−$31.3K −$6.26/SF
NOI
$73.1K $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%
$1,461,080
Cap Rate 7%
$1,043,629
Cap Rate 9%
$811,711
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$913.2K – $1.22M
NOI $73,054 @ 7.0% cap · market cap 7.69%
Second Best
Apartment 5plus
$958.6K
$838.7K – $1.12M
NOI $67,099 @ 7.0% cap · market cap 7.06%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,503 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
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Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,903
Businesses Nearby
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Business Placement
Demographics for 55405, MN
15,497
Population
8,724
Households
1.8
Avg Household Size
34
Median Age
59%
College-Educated
95%
High-School Grad
2.8 sq mi
ZIP Area
5,535
Density / Sq Mi
$70,425
Median Household Income
$47,271
Median Earnings
$1,188
Median Rent
$450,200
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 - All four units are leased and have separate gas and electric meters.
Where is this quadplex located?
The property is located at 2125 Harriet Avenue Minneapolis, MN.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Four leased units with separate gas and electric meters; Brick exterior with original woodwork and built‑ins; Recent improvements include roof, windows, insulation, electrical work, flooring, and water heaters
