Four-Unit Quadplex with
For Sale
$750,000
901 4th Street NE, Minneapolis, MN 55413
Residential Income, Minneapolis, MN
Property Size3,472 SF
Lot Size0.30 Acres
Price / SF$216.01
Days on Market16
Property Features for 901 4th 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 4, Basement, Bedroom 4, Bedroom 5, Bedroom 7, Bathroom 3, Bedroom 6, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 3
Parking features
Garage - Detached
Exterior features
Stucco
Subdivision
Auditors Sub 254
High school district
Minneapolis
Directions
From I-35W, take Broadway St NE east to 4th St NE, then south to property on left.
Standard status
Active
APN
1402924310003
Size
3,472 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9393
Utilities
Heating system
Oil
Building Details
Year built
1969
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Grant Johnson, Gri
(612) 600-6000
Added: Aug 7
Changed: Aug 20
Last Checked: Aug 22 at 9:06PM
MLS# 7111414
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 3,472-square-foot quadplex, built in 1969, contains four residential units arranged as three two-bedroom, one-bath residences and one one-bedroom, one-bath residence. Each unit offers approximately 800 finished square feet. The building has stucco siding, oil heating, and a basement, with four separate detached garage stalls included on the 0.3-acre property.
Located at 901 4th Street NE in Minneapolis, the property provides a compact four-unit configuration with a mix of layouts and dedicated garage parking. The varied bedroom counts support different residential space requirements within the same building.
Located at 901 4th Street NE in Minneapolis, the property provides a compact four-unit configuration with a mix of layouts and dedicated garage parking. The varied bedroom counts support different residential space requirements within the same building.
Key Highlights
- Four‑unit layout with three 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
- 3,472 square feet on 0.3 acres
- Approximately 800 finished square feet per unit
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
$50,728
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
6.76%
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%
$1,014,560
$1.0M
Cap Rate 7%
$724,686
$724.7K
Cap Rate 9%
$563,644
$563.6K
Market Conditions
NOI Build-Up for 3,472 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
$77.1K $22.20/SF
− Vacancy
−$4.6K −$1.33/SF
EGI
$72.5K $20.87/SF
− OpEx
−$21.7K −$6.26/SF
NOI
$50.7K $14.61/SF
Area
Minneapolis, MN
Vacancy
5.98%
Lease Rate
$22.20 /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%
$1,014,560
Cap Rate 7%
$724,686
Cap Rate 9%
$563,644
Alternative Uses
Best Use
Multifamily LT 5
$724.7K
$634.1K – $845.5K
NOI $50,728 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$665.6K
$582.4K – $776.6K
NOI $46,593 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$828.3K
$724.8K – $966.4K
NOI $57,984 @ 7.0% cap · market cap 7.73%
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
1,223
Businesses Nearby
Explore this area
Business Placement
Demographics for 55413, MN
13,914
Population
8,080
Households
1.7
Avg Household Size
34
Median Age
58%
College-Educated
95%
High-School Grad
3.1 sq mi
ZIP Area
4,488
Density / Sq Mi
$84,252
Median Household Income
$57,091
Median Earnings
$1,497
Median Rent
$354,200
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-unit residential property with varied floor plans, detached garage parking, and a basement.
Where is this quadplex located?
The property is located at 901 4th Street NE Minneapolis, MN.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Four‑unit layout with three 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit; 3,472 square feet on 0.3 acres; Approximately 800 finished square feet per unit
