Listing Agency: Edina Realty, Inc r***@edinarealty.com Show Phone

Listed By: Randy Meierhofer Show Phone

Source: Exprealty

Added: Jul 27 Changed: Aug 9 Last Checked: Aug 10 at 9:34AM

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Investment Insights

Based on property information with market context.

This four-unit rental property contains two apartments on the upper level and two on the lower level. All units are currently occupied, with two apartments supported by tenants who have remained in place for more than 10 years. The property also includes a detached two-car garage that generates additional rental income, along with off-street parking for residents.

Positioned on a corner lot at 232 Broadway St E in Rockville, MN, the property combines four residential units with a separately rented garage. Its existing occupancy, established tenancy, and additional parking are central features of the asset.

Key Highlights

• Four apartments: two upper‑level units and two lower‑level units
• All four units are currently occupied
• Two tenants have rented for more than 10 years

Property Analytics

Current Use

Quadplexes

Suggested Use

Top Pick Parking Lot & Garage Building Supply Storage Facility Computer & Electronic Repair Auto Repair Shop Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

47

Businesses Nearby

Explore this area Business Placement

Demographics for 56369, MN

545

Population

225

Households

2.4

Avg Household Size

36

Median Age

17%

College-Educated

87%

High-School Grad

0.6 sq mi

ZIP Area

908

Density / Sq Mi

$84,464

Median Household Income

$54,107

Median Earnings

$896

Median Rent

$223,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Fully occupied apartments include a rented detached garage and off-street parking on a corner lot.

Where is this quadplex located?

The property is located at 232 Broadway St E Rockville, MN.

What is the asking price?

The asking price for this property is $250,000.

What are key features of this property?

This property features: Four apartments: two upper‑level units and two lower‑level units; All four units are currently occupied; Two tenants have rented for more than 10 years