Fourplex with Coin
For Sale
$399,900
4 South 16th Avenue East, Duluth, MN 55812
All four units are currently occupied, and the building includes coin-operated laundry.
Property Size2,872 SF
Price / SF$139.24
Days on Market163
Property Features for 4 South 16th Avenue East
General Information
Standard status
Active
Size
2,872 SF
Property subtype
Residential Income / Multi Family
Occupancy
100%
Property Condition
Severity
Repairs Needed
Evidence
could use some cosmetic updates
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,238
Amenities
coin operated laundry
Forced Air
Full
6
4
2
Stone
Wood
Building Details
Year Built
1891
Listing Agency:
RE/MAX Results
Listed By:
Adam Paulson · License #MN 40492241
(218) 626-5913
Source:
Compass
Added: Apr 29
Changed: Oct 6
Last Checked: Oct 7 at 2:16PM
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 RE/MAX Results
Investment Insights
Based on property information with market context.
This 2,872-square-foot fourplex contains four rental units and includes coin-operated laundry. Built in 1891, the property is fully rented. The building’s major structural and mechanical components are described as sound, while cosmetic updates remain to be completed.
Key Highlights
- Four‑unit residential income property
- 2,872 square feet
- Coin‑operated laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,593
Cap Rate
6.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$511,860
$511.9K
Cap Rate 7%
$365,614
$365.6K
Cap Rate 9%
$284,367
$284.4K
Market Conditions
NOI Build-Up for 2,872 SF
Gross rent
$38.8K $13.50/SF
− Vacancy
−$2.2K −$0.77/SF
EGI
$36.6K $12.73/SF
− OpEx
−$11.0K −$3.82/SF
NOI
$25.6K $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%
$511,860
Cap Rate 7%
$365,614
Cap Rate 9%
$284,367
Alternative Uses
Best Use
Multifamily LT 5
$365.6K
$319.9K – $426.6K
NOI $25,593 @ 7.0% cap · market cap 6.40%
Second Best
Apartment 5plus
$336.0K
$294.0K – $392.0K
NOI $23,520 @ 7.0% cap · market cap 5.88%
Theoretical Best
Specialty Retail
$1.11M
$974.8K – $1.30M
NOI $77,987 @ 7.0% cap · market cap 19.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,658
Businesses Nearby
Explore this area
Business Placement
Demographics for 55812, MN
10,571
Population
3,954
Households
2.7
Avg Household Size
27
Median Age
60%
College-Educated
98%
High-School Grad
1.9 sq mi
ZIP Area
5,564
Density / Sq Mi
$66,961
Median Household Income
$16,485
Median Earnings
$1,216
Median Rent
$301,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - All four units are currently occupied, and the building includes coin-operated laundry.
Where is this quadplex located?
The property is located at 4 South 16th Avenue East Duluth, MN.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Four‑unit residential income property; 2,872 square feet; Coin‑operated laundry
