Modern Six-Unit Apartment
For Sale
$2,300,000
814 6th St SE, Minneapolis, MN 55414
Two-building multifamily asset with updated interiors, separate utilities, and in-unit laundry provisions.
Property Size4,893 SF
Price / SF$470.06
Days on Market90
Property Features for 814 6th St SE
General Information
Standard status
Active
Size
4,893 SF
Units
Unit Mix
6 x 5BR/2BA
Multifamily Units
6
Additional Details
Utilities to Site
Yes
Amenities
laundry in each unit
rear deck
Building Details
Year Built
1925
Buildings
2
Listing Agency:
Morgan And Trust Realty
Listed By:
Martin P. Morgan · License #40282274
(612) 432-5451
Source:
Tayloronken
Added: Jul 25
Changed: Oct 15
Last Checked: Oct 7 at 2:21PM
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 Morgan And Trust Realty
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Investment Insights
Based on property information with market context.
This six-unit apartment property combines a renovated and expanded triplex at 814 6th Street SE with a newly constructed slab-on-grade triplex at 816 6th Street SE. The buildings share one parcel and provide approximately 4,893 square feet of residential space. Units feature five bedrooms, two bathrooms, modern kitchens with quartz counters and stainless steel appliances, LVP flooring, tiled shower surrounds, and stackable washer and dryer hookups. The 814 building includes a three-story rear deck and was extensively rebuilt with a third-story addition.
The property incorporates separate utility services, independent forced-air heating and cooling systems, individual electrical meters, electric water heaters, updated plumbing, and modern life-safety systems. Exterior components include LP SmartSide siding, architectural asphalt shingles, new paint, and pre-finished soffit and fascia. The asset is located in Minneapolis’s Marcy-Holmes / University district.
The property incorporates separate utility services, independent forced-air heating and cooling systems, individual electrical meters, electric water heaters, updated plumbing, and modern life-safety systems. Exterior components include LP SmartSide siding, architectural asphalt shingles, new paint, and pre-finished soffit and fascia. The asset is located in Minneapolis’s Marcy-Holmes / University district.
Key Highlights
- Six residential units across two buildings on one PID
- 814 6th Street SE includes a fully renovated, expanded triplex
- 816 6th Street SE is a new slab‑on‑grade triplex
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,663
Cap Rate
2.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,313,260
$1.3M
Cap Rate 7%
$938,043
$938.0K
Cap Rate 9%
$729,589
$729.6K
Market Conditions
NOI Build-Up for 4,893 SF
Gross rent
$127.4K $26.04/SF
− Vacancy
−$8.0K −$1.64/SF
EGI
$119.4K $24.40/SF
− OpEx
−$53.7K −$10.98/SF
NOI
$65.7K $13.42/SF
Area
Minneapolis, MN
Vacancy
6.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,313,260
Cap Rate 7%
$938,043
Cap Rate 9%
$729,589
Alternative Uses
Best Use
Apartment 5plus
$938.0K
$820.8K – $1.09M
NOI $65,663 @ 7.0% cap · market cap 2.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,716 @ 7.0% cap · market cap 3.55%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
6
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,479
Businesses Nearby
Explore this area
Business Placement
Demographics for 55414, MN
36,600
Population
15,541
Households
2.4
Avg Household Size
26
Median Age
68%
College-Educated
93%
High-School Grad
3.1 sq mi
ZIP Area
11,806
Density / Sq Mi
$47,004
Median Household Income
$18,386
Median Earnings
$1,368
Median Rent
$454,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-building multifamily asset with updated interiors, separate utilities, and in-unit laundry provisions.
Where is this apartment building located?
The property is located at 814 6th St SE Minneapolis, MN.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Six residential units across two buildings on one PID; 814 6th Street SE includes a fully renovated, expanded triplex; 816 6th Street SE is a new slab‑on‑grade triplex
