Updated Multifamily Income
32969 Laplant Road Grand Rapids, MN 55744
32969 Laplant Road, Grand Rapids, MN, 55744
$550,000
For Sale
$550,000
MULTI_FAMILY - GRAND RAPIDS, MN
Property Size3,384 SF
Lot Size5.00 Acres
Price / SF$162.53
Days on Market53
Property Features for 32969 Laplant Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Multi
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 1, Bedroom 4
- Parking features
- Parking Lot
- Standard status
- Active
- Size
- 3,384 SF
- Lot size
- 5.00 Acres
Building Details
- Year built
- 1963
- Number of units
- 3
- Roof type
- Metal
Listing Agency
Keller Williams Classic Realty
(763) 746-4900
1740 116th Ave NW, Coon Rapids, MN
Listed by
Brian Johnson
(763) 458-1900
Added: May 27 Checked: Jul 18 at 3:06 am
MLS# 147919
Listing URL
Copyright © 2026 Range 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.
Investment Insights
Based on property information with market context.
This multifamily property offers two residential rental units that have been updated and are described as ready to rent, along with a separate unit intended for business use. Recent improvements include HVAC, electrical, siding, flooring, paint, and a newer roof, supporting a turnkey-ready presentation.
The property is located on 5 acres just south of Grand Rapids, positioned on Hwy 169 for visibility, with ample parking available on site. Zoning is listed as Multi.
As configured, the asset provides separate living and business space within the same property, with parking and highway access intended to support day-to-day operations.
The property is located on 5 acres just south of Grand Rapids, positioned on Hwy 169 for visibility, with ample parking available on site. Zoning is listed as Multi.
As configured, the asset provides separate living and business space within the same property, with parking and highway access intended to support day-to-day operations.
Key Highlights
- Located on 5 acres just south of Grand Rapids on Hwy 169
- Includes two residential rental units that have been updated plus a separate unit for a business
- Recent updates include HVAC, electrical, siding, flooring, and paint
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.8k | $7.92 |
| − Vacancy | −$4.5k | −$1.32 |
| EGI | $22.3k | $6.60 |
| − OpEx | −$6.7k | −$1.98 |
| NOI | $15.6k | $4.62 |
3,384 SF · lease $7.92/SF/yr · vacancy 16.72% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$223.2K
$195.3K – $260.4K
NOI $15,624 @ 7.0% cap · market cap 2.84%
Second Best
Apartment 5plus
$191.9K
$167.9K – $223.9K
NOI $13,435 @ 7.0% cap · market cap 2.44%
Theoretical Best
Specialty Retail
$326.2K
$285.5K – $380.6K
NOI $22,837 @ 7.0% cap · market cap 4.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Set on 5 acres along Hwy 169 with two updated residential rentals and a separate unit for a business.
Where is this triplex located?
The property is located at 32969 Laplant Road Grand Rapids, MN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Located on 5 acres just south of Grand Rapids on Hwy 169; Includes two residential rental units that have been updated plus a separate unit for a business; Recent updates include HVAC, electrical, siding, flooring, and paint
