Licensed 4-Unit
New
For Sale
$314,900
2525-2527 W 2nd St, Duluth, MN 55806
MULTI-FAMILY, Duluth, MN
Property Size2,960 SF
Lot Size0.16 Acres
Price / SF$106.39
Days on Market4
Property Features for 2525-2527 W 2nd St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Basement, Bedroom 3, Bathroom 3, Bathroom 2, Bathroom 4, Bedroom 4, Bedroom 1, Bathroom 1
Elementary school district
Duluth #709
Middle school district
Duluth #709
High school district
Duluth #709
Directions
W 2nd St. in Duluth
Subdivision
LSAR
Standard status
Active
APN
010-1140-04210
Size
2,960 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3686
Utilities
Heating system
Forced Air, Natural Gas
Building Details
Year built
1886
Floors in Building
2
Number of units
4
Listing Agency:
RE/MAX Results · RE/MAX International
Listed By:
Jordan Decaro
(952) 829-2900
Added: Oct 19
Last Checked: Oct 22 at 8:06AM
MLS# 6128481
Copyright © 2026 Lake Superior Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2,960-square-foot quadplex contains four one-bedroom, one-bathroom apartments, each approximately 740 square feet. The building dates to 1886 and includes a full stone basement, vinyl siding, and natural-gas forced-air heating. Four off-street parking spaces serve the property, which sits on a 0.16-acre lot.
All four units are leased, with lease expirations staggered through 2027. Residents pay their own electric and trash costs; the owner covers fuel, water, and sewer. A rental license is in place, adding an established operational feature to the property's existing configuration.
All four units are leased, with lease expirations staggered through 2027. Residents pay their own electric and trash costs; the owner covers fuel, water, and sewer. A rental license is in place, adding an established operational feature to the property's existing configuration.
Key Highlights
- Four one‑bedroom, one‑bathroom apartments, approximately 740 sq ft each
- 2,960‑square‑foot building on a 0.16‑acre lot
- Four off‑street parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,378
Cap Rate
8.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$527,560
$527.6K
Cap Rate 7%
$376,829
$376.8K
Cap Rate 9%
$293,089
$293.1K
Market Conditions
NOI Build-Up for 2,960 SF
Gross rent
$40.0K $13.50/SF
− Vacancy
−$2.3K −$0.77/SF
EGI
$37.7K $12.73/SF
− OpEx
−$11.3K −$3.82/SF
NOI
$26.4K $8.91/SF
Area
St. Louis County, MN
Vacancy
5.70%
Lease Rate
$13.50 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$527,560
Cap Rate 7%
$376,829
Cap Rate 9%
$293,089
Alternative Uses
Best Use
Multifamily LT 5
$376.8K
$329.7K – $439.6K
NOI $26,378 @ 7.0% cap · market cap 8.38%
Second Best
Apartment 5plus
$346.3K
$303.0K – $404.0K
NOI $24,240 @ 7.0% cap · market cap 7.70%
Theoretical Best
Specialty Retail
$1.15M
$1.00M – $1.34M
NOI $80,376 @ 7.0% cap · market cap 25.52%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
702
Businesses Nearby
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Business Placement
Demographics for 55806, MN
9,761
Population
4,848
Households
2
Avg Household Size
34
Median Age
28%
College-Educated
93%
High-School Grad
3.4 sq mi
ZIP Area
2,871
Density / Sq Mi
$44,962
Median Household Income
$33,868
Median Earnings
$910
Median Rent
$156,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - All four apartments are occupied, and a rental license is already in place.
Where is this quadplex located?
The property is located at 2525-2527 W 2nd St Duluth, MN.
What is the asking price?
The asking price for this property is $314,900.
What are key features of this property?
This property features: Four one‑bedroom, one‑bathroom apartments, approximately 740 sq ft each; 2,960‑square‑foot building on a 0.16‑acre lot; Four off‑street parking spaces
