Quadplexes with Private
240 Hallam Avenue S, Mahtomedi, MN 55115
For Sale
$800,000
Pending
Three separate buildings offer three-bedroom, one-bath units in the Mahtomedi School District.
Property Size4,352 SF
Days on Market55
Property Features for 240 Hallam Avenue S
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Amenities
tandem garage
decks
Building Details
Year Built
Buildings
Listing Agency:
Keller Williams Premier Realty
(651) 439-4000
Listed By:
Brigg Backer
(612) 202-4334
Source:
Caibert
Added: Sep 16
Changed: Nov 8
Last Checked: Nov 8 at 6:56AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property comprises three separate fourplex buildings, with three-bedroom, one-bath apartments. Each unit has a deck, and tandem garage parking is also provided. The buildings were constructed in 1985.
The property is in the Mahtomedi School District, in a quiet area with green space.
The property is in the Mahtomedi School District, in a quiet area with green space.
Key Highlights
- Three separate fourplex buildings
- Three‑bedroom, one‑bath units
- A deck for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,586
Cap Rate
7.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,271,720
$1.3M
Cap Rate 7%
$908,371
$908.4K
Cap Rate 9%
$706,511
$706.5K
Market Conditions
NOI Build-Up for 4,352 SF
Gross rent
$96.6K $22.20/SF
− Vacancy
−$5.8K −$1.33/SF
EGI
$90.8K $20.87/SF
− OpEx
−$27.3K −$6.26/SF
NOI
$63.6K $14.61/SF
Area
Washington County, 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%
$1,271,720
Cap Rate 7%
$908,371
Cap Rate 9%
$706,511
Alternative Uses
Best Use
Multifamily LT 5
$908.4K
$794.8K – $1.06M
NOI $63,586 @ 7.0% cap · market cap 7.95%
Second Best
Apartment 5plus
$834.3K
$730.0K – $973.4K
NOI $58,403 @ 7.0% cap · market cap 7.30%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,620 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
148
Businesses Nearby
Explore this area
Business Placement
Demographics for 55115, MN
8,880
Population
3,408
Households
2.6
Avg Household Size
45
Median Age
63%
College-Educated
98%
High-School Grad
6.1 sq mi
ZIP Area
1,456
Density / Sq Mi
$132,796
Median Household Income
$71,786
Median Earnings
$1,510
Median Rent
$481,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Three separate buildings offer three-bedroom, one-bath units in the Mahtomedi School District.
Where is this quadplex located?
The property is located at 240 Hallam Avenue S Mahtomedi, MN.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Three separate fourplex buildings; Three‑bedroom, one‑bath units; A deck for each unit
