Turnkey 4-Plex Income
For Sale
$649,900
317 14th St SW, Rochester, MN 55902
Completely remodeled, fully occupied fourplex with four 2-bedroom units and in-unit laundry, each with boiler heat and mini-split HVAC.
Property Size3,344 SF
Price / SF$194.35
Days on Market105
Property Features for 317 14th St SW
General Information
Standard status
Active
Size
3,344 SF
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
4
Building Details
Year Built
1962
Tenancy
Multi
Listing Agency:
Harbor Realty & Management Gro
Listed By:
Alex Brainard
(507) 722-2804
Source:
Tayloronken
Added: Jul 13
Changed: Oct 10
Last Checked: Oct 23 at 12:21PM
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 Harbor Realty & Management Gro
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Investment Insights
Based on property information with market context.
This turnkey fourplex has been completely remodeled from top to bottom and is ready for new ownership. The property includes four fully occupied units, each featuring two bedrooms, one bathroom, and in-unit laundry. Major systems and components have been updated, including new plumbing, electrical, boiler system, water heater, kitchens, and bathrooms.
Each unit is served by efficient boiler heat and also includes a mini-split system with both air conditioning and heat pump functionality. Electric is individually metered for each apartment, supporting straightforward utility management. Renovations were completed with proper permits and received occupancy approval from the City.
The building’s current income is supported by four occupied units, and the configuration is designed for low-maintenance operation following extensive upgrades.
Each unit is served by efficient boiler heat and also includes a mini-split system with both air conditioning and heat pump functionality. Electric is individually metered for each apartment, supporting straightforward utility management. Renovations were completed with proper permits and received occupancy approval from the City.
The building’s current income is supported by four occupied units, and the configuration is designed for low-maintenance operation following extensive upgrades.
Key Highlights
- Completely remodeled 4‑plex with four fully occupied 2‑bedroom, 1‑bath units
- Renovations include new plumbing, electrical, boiler system, water heater, kitchens, and bathrooms
- Each unit has in‑unit laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,025
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$720,500
$720.5K
Cap Rate 7%
$514,643
$514.6K
Cap Rate 9%
$400,278
$400.3K
Market Conditions
NOI Build-Up for 3,344 SF
Gross rent
$54.2K $16.20/SF
− Vacancy
−$2.7K −$0.81/SF
EGI
$51.5K $15.39/SF
− OpEx
−$15.4K −$4.62/SF
NOI
$36.0K $10.77/SF
Area
Rochester, MN
Vacancy
5.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$720,500
Cap Rate 7%
$514,643
Cap Rate 9%
$400,278
Alternative Uses
Best Use
Multifamily LT 5
$514.6K
$450.3K – $600.4K
NOI $36,025 @ 7.0% cap · market cap 5.54%
Second Best
Apartment 5plus
$451.7K
$395.2K – $526.9K
NOI $31,616 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,156 @ 7.0% cap · market cap 13.87%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
788
Businesses Nearby
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Business Placement
Demographics for 55902, MN
25,878
Population
11,954
Households
2.2
Avg Household Size
40
Median Age
66%
College-Educated
98%
High-School Grad
41.1 sq mi
ZIP Area
630
Density / Sq Mi
$111,879
Median Household Income
$68,869
Median Earnings
$1,580
Median Rent
$430,100
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 - Completely remodeled, fully occupied fourplex with four 2-bedroom units and in-unit laundry, each with boiler heat and mini-split HVAC.
Where is this quadplex located?
The property is located at 317 14th St SW Rochester, MN.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Completely remodeled 4‑plex with four fully occupied 2‑bedroom, 1‑bath units; Renovations include new plumbing, electrical, boiler system, water heater, kitchens, and bathrooms; Each unit has in‑unit laundry
