Triplex with Detached Two-Car
For Sale
$500,000
5347 4th Street NE, Fridley, MN 55421
MULTI_FAMILY - Fridley, MN
Property Size2,670 SF
Lot Size0.20 Acres
Price / SF$187.27
Days on Market120
Property Features for 5347 4th Street NE
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Basement, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 3, Bathroom 1, Bathroom 2
Parking features
Garage, Garage - Detached, Driveway
Exterior features
Stucco
Fencing
Chain Link
Subdivision
Hamiltons Add To Mechanics
Lot features
Tree Coverage - Light
High school district
Fridley
Directions
HWY 10 TO UNIVERSITY AVE NE, GO SOUTH ON UNIVERSITY AVE, THEN EAST ON 53RD AVE NE, NORTH ON 4TH ST NE, TRI-PLEX IS ON THE RIGHT HAND SIDE
Standard status
Active
APN
233024340055
Size
2,670 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6200
Utilities
Heating system
Oil, Baseboard, Zoned
Amenities
private exterior entrance
shared laundry space
Building Details
Year built
1960
Building materials
Block, Timber/Post & Beam, Frame
Roof type
Shingle
Listing Agency:
LaBelle Real Estate Group Inc
(651) 705-0166
Listed By:
Amy Foss
(651) 705-0166
Added: Apr 17
Changed: Aug 2
Last Checked: Aug 14 at 8:06PM
MLS# 7054412
Copyright © 2026 Northstar MLS. 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 triplex offers a turn-key rental setup with private exterior entrances for each unit. Unit #2 is a two-bedroom, one-bath layout with in-unit laundry. Units #1 and #3 each feature one bedroom and one bath, with their washers and dryers located in a shared laundry space. The property appears well maintained, including a roof that is under 10 years old, and an overall solid condition.
Built in 1960, the property totals 2,670 square feet and sits on a 0.2-acre lot. Exterior features include stucco, with chain-link fencing on site. Parking includes a detached two-car garage along with driveway/garage parking. Heating is described as zoned oil heat with baseboard.
Leases are in place and will transfer with sale. A 24-hour notice is required for showings, and quick closing is available.
Built in 1960, the property totals 2,670 square feet and sits on a 0.2-acre lot. Exterior features include stucco, with chain-link fencing on site. Parking includes a detached two-car garage along with driveway/garage parking. Heating is described as zoned oil heat with baseboard.
Leases are in place and will transfer with sale. A 24-hour notice is required for showings, and quick closing is available.
Key Highlights
- Private exterior entrance for each of the three units
- Roof under 10 years old
- Unit #2 has two beds, one bath, and in‑unit laundry
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,069
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.61%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$661,380
$661.4K
Cap Rate 7%
$472,414
$472.4K
Cap Rate 9%
$367,433
$367.4K
Market Conditions
NOI Build-Up for 2,670 SF
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.
Gross rent
$50.6K $18.96/SF
− Vacancy
−$3.4K −$1.27/SF
EGI
$47.2K $17.69/SF
− OpEx
−$14.2K −$5.31/SF
NOI
$33.1K $12.39/SF
Area
Anoka County, MN
Vacancy
6.68%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$661,380
Cap Rate 7%
$472,414
Cap Rate 9%
$367,433
Alternative Uses
Best Use
Multifamily LT 5
$472.4K
$413.4K – $551.2K
NOI $33,069 @ 7.0% cap · market cap 6.61%
Second Best
Apartment 5plus
$435.3K
$380.9K – $507.9K
NOI $30,473 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$741.6K
$648.9K – $865.3K
NOI $51,915 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
327
Businesses Nearby
Explore this area
Business Placement
Demographics for 55421, MN
30,580
Population
13,247
Households
2.3
Avg Household Size
37
Median Age
34%
College-Educated
90%
High-School Grad
6.3 sq mi
ZIP Area
4,854
Density / Sq Mi
$75,141
Median Household Income
$44,242
Median Earnings
$1,281
Median Rent
$260,500
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?
Triplex - Triplex with private exterior entrances and a detached two-car garage for tenant parking and storage.
Where is this triplex located?
The property is located at 5347 4th Street NE Fridley, MN.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Private exterior entrance for each of the three units; Roof under 10 years old; Unit #2 has two beds, one bath, and in‑unit laundry
