4-Unit Quadplex with Renovated
7632 Pleasant Avenue, Richfield, MN 55423
For Sale
$549,999
Month-to-month leases and established tenancy offer flexibility across this four-unit rental property.
Property Size4,008 SF
Price / SF$137.23
Days on Market32
Property Features for 7632 Pleasant Avenue
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Eos Realty, LLC
Listed By:
Kristopher G. Jacobsen
(651) 270-5429
Source:
Thinkhl
Added: Oct 9
Changed: Nov 7
Last Checked: Nov 8 at 9:29AM
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 Eos Realty, LLC
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Investment Insights
Based on property information with market context.
At 7632 Pleasant Avenue, this 4,008-square-foot quadplex was built in 1966 and contains three two-bedroom apartments plus one one-bedroom apartment. A boiler installed in 2025 and newer windows are among the property improvements. Unit 2 received a full interior update in 2024, including new carpet, paint, blinds, living room windows, kitchen cabinets, countertops and appliances, along with a remodeled bathroom with a tile tub and shower.
The apartments have month-to-month leases, and the property has long-term tenants with historically low turnover. The Richfield location provides access to major highways, shopping, restaurants and parks. Mall of America and MSP Airport are a short drive away.
The apartments have month-to-month leases, and the property has long-term tenants with historically low turnover. The Richfield location provides access to major highways, shopping, restaurants and parks. Mall of America and MSP Airport are a short drive away.
Key Highlights
- Four apartments: three two‑bedroom units and one one‑bedroom unit
- 4,008 square feet; built in 1966
- Boiler installed in 2025; newer windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,891
Cap Rate
8.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$917,820
$917.8K
Cap Rate 7%
$655,586
$655.6K
Cap Rate 9%
$509,900
$509.9K
Market Conditions
NOI Build-Up for 4,008 SF
Gross rent
$88.0K $21.96/SF
− Vacancy
−$4.6K −$1.14/SF
EGI
$83.4K $20.82/SF
− OpEx
−$37.5K −$9.37/SF
NOI
$45.9K $11.45/SF
Area
ZIP 55423
Vacancy
5.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$917,820
Cap Rate 7%
$655,586
Cap Rate 9%
$509,900
Alternative Uses
Best Use
Multifamily LT 5
$757.9K
$663.1K – $884.2K
NOI $53,051 @ 7.0% cap · market cap 9.65%
Second Best
Apartment 5plus
$655.6K
$573.6K – $764.9K
NOI $45,891 @ 7.0% cap · market cap 8.34%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,288 @ 7.0% cap · market cap 14.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
Explore this area
Business Placement
Demographics for 55423, MN
37,137
Population
16,792
Households
2.2
Avg Household Size
37
Median Age
44%
College-Educated
91%
High-School Grad
7.1 sq mi
ZIP Area
5,231
Density / Sq Mi
$84,102
Median Household Income
$52,890
Median Earnings
$1,334
Median Rent
$320,300
Median Home Value
Market
Average Price Trend$/SF for Quadplexes in Hennepin County, MN
Properties on Market for Quadplexes in Hennepin County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Month-to-month leases and established tenancy offer flexibility across this four-unit rental property.
Where is this quadplex located?
The property is located at 7632 Pleasant Avenue Richfield, MN.
What is the asking price?
The asking price for this property is $549,999.
What are key features of this property?
This property features: Four apartments: three two‑bedroom units and one one‑bedroom unit; 4,008 square feet; built in 1966; Boiler installed in 2025; newer windows
