Four-Unit Multifamily
For Sale
$525,000
5428 5th Street NE, Fridley, MN 55421
MULTI_FAMILY - Fridley, MN
Property Size2,873 SF
Lot Size0.24 Acres
Price / SF$182.74
Days on Market75
Property Features for 5428 5th Street NE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential-Multi-Family
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 3, Bedroom 7, Bathroom 3, Bedroom 1, Bedroom 5, Bedroom 6, Bedroom 2, Bedroom 4, Bathroom 1, Basement, Bathroom 4
Parking features
Parking Lot
Exterior features
Brick/Stone, Stucco
Subdivision
Hamiltons Add To Mechanics
Lot features
Public Transit (w/in 6 blks)
High school district
Fridley
Directions
University Ave NE to 53rd Ave NE to 5th St NE
Standard status
Active
APN
233024340014
Size
2,873 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8057
Utilities
Heating system
Baseboard
Amenities
shared laundry
off-street parking
mail area
Building Details
Year built
1961
Listing Agency:
eXp Realty
(320) 500-4397
Listed By:
Janelle Mattson
(612) 751-9303
Added: Jun 1
Changed: Aug 13
Last Checked: Aug 14 at 8:06PM
MLS# 7082990
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 four-unit multifamily property offers a total of four residential units across both a lower level and an upper level. The shared layout includes a welcoming front vestibule with a dedicated mail area, plus interior access to a common laundry and utility area. The laundry area is equipped with a GE washer and dryer and includes a utility sink, with direct access from the shared space to the back dedicated parking lot and off-street parking.
The property includes two lower-level units and two upper-level units. The lower level features one 1-bedroom, 1-bath unit and one 2-bedroom, 1-bath unit, while the upper level includes two 2-bedroom, 1-bath units that share a mirrored layout. The open-concept living, dining, and kitchen areas are designed for functional everyday living, with stainless steel appliances noted for the kitchens and tile surrounds/backsplashes described in multiple units.
Located on 5th Street NE in Fridley (Anoka County), the building is built with brick/stone and stucco exterior features and has baseboard heating. Parking is provided via a parking lot, supporting convenient resident access.
The property includes two lower-level units and two upper-level units. The lower level features one 1-bedroom, 1-bath unit and one 2-bedroom, 1-bath unit, while the upper level includes two 2-bedroom, 1-bath units that share a mirrored layout. The open-concept living, dining, and kitchen areas are designed for functional everyday living, with stainless steel appliances noted for the kitchens and tile surrounds/backsplashes described in multiple units.
Located on 5th Street NE in Fridley (Anoka County), the building is built with brick/stone and stucco exterior features and has baseboard heating. Parking is provided via a parking lot, supporting convenient resident access.
Key Highlights
- Four residential units with a shared front vestibule and dedicated mail area
- Shared laundry and utility area with GE washer and dryer and utility sink
- Two lower‑level units plus two upper‑level mirrored 2‑bedroom layouts
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
$35,583
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
6.78%
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%
$711,660
$711.7K
Cap Rate 7%
$508,329
$508.3K
Cap Rate 9%
$395,367
$395.4K
Market Conditions
NOI Build-Up for 2,873 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
$54.5K $18.96/SF
− Vacancy
−$3.6K −$1.27/SF
EGI
$50.8K $17.69/SF
− OpEx
−$15.3K −$5.31/SF
NOI
$35.6K $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%
$711,660
Cap Rate 7%
$508,329
Cap Rate 9%
$395,367
Alternative Uses
Best Use
Multifamily LT 5
$508.3K
$444.8K – $593.1K
NOI $35,583 @ 7.0% cap · market cap 6.78%
Second Best
Apartment 5plus
$468.4K
$409.9K – $546.5K
NOI $32,790 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$798.0K
$698.3K – $931.0K
NOI $55,862 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
420
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?
Quadplex - Four units with shared laundry and dedicated parking lot, built in 1961, with baseboard heat.
Where is this quadplex located?
The property is located at 5428 5th Street NE Fridley, MN.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Four residential units with a shared front vestibule and dedicated mail area; Shared laundry and utility area with GE washer and dryer and utility sink; Two lower‑level units plus two upper‑level mirrored 2‑bedroom layouts
