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    Pelican Rapids, MN
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    Pelican Rapids, MN Multifamily Properties for Sale

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    Battle Lake, MN Lake Park, MN Detroit Lakes, MN Dent, MN Audubon, MN Vergas, MN Rothsay, MN Fergus Falls, MN
    Updated Three-Unit Property
    Updated: Aug 12
    Updated Three-Unit Property

    401 1st Ave Se, Pelican Rapids, MN 56572

    $298,500
    3,400 sqft
    Three‑unit triplex with updated interiors
    1,200‑square‑foot lower‑level unit with 2 bedrooms and 1 bathroom
    1,600‑square‑foot upper unit with 3 bedrooms and 1 bathroom
    600‑square‑foot upper efficiency‑style unit with 1 bedroom and 1 bathroom
    Near 10% cap rate
    View details

    This listing looks promising.

    Here's a quick look at some key insights for

    401 1st Ave Se, Pelican Rapids, MN

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    • Est. Cap Rate

      8.8%
      Above avg (5.9%)

    • Est. NOI

      $26K
      Annual

    • Price @ 7% Cap

      $377K
      Above asking

    • Property Type

      Single Family Residence
      Built 1959
    View Property Analytics
    Based on your search, we've compiled 10 Potential Opportunities for your consideration. Besides 1 Active listings in Pelican Rapids, MN, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 5 Off-Market properties to explore as potential leads

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Triplex Apartment Building with Private Entrances
    Triplex Apartment Building with Private Entrances

    155 SW 4th, Perham, MN 56573

    $334,900
    2,412 sqft 0.26 AC lot

    Three-unit apartment building with each unit having a private entrance and dedicated off-street parking in downtown Perham.

    View details
    Duplex With Detached Garage
    Duplex With Detached Garage

    822 W Maple Avenue, Fergus Falls, MN 56537

    $159,900
    1,447 sqft 0.22 AC lot

    Duplex with upper 3-bedroom unit and lower 2-bedroom unit, vinyl exterior, and a detached garage on a small lot.

    View details
    Duplex with 3-Season Front Porch
    Duplex with 3-Season Front Porch

    424 W Birch Avenue, Fergus Falls, MN 56537

    $189,900
    1,352 sqft 0.19 AC lot

    Duplex in Fergus Falls with two three-bedroom units, forced-air heat, vinyl siding, and driveway parking.

    View details
    Three-Unit Apartment Building
    Three-Unit Apartment Building

    155 4th Ave Sw, Perham, MN 56573

    $350,000
    2,412 sqft

    Downtown multifamily property with private entrances and dedicated off-street parking for each residence.

    View details

    Off-Market Properties in Pelican Rapids, MN

    Consider similar Off-Market properties in Pelican Rapids, MN. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

    709 Broadway
    APARTMENT HOUSE (5+ UNITS)

    709 Broadway, Pelican Rapids, MN 56572-4159

    $230,000
    Estimated value
    1,223 sqft 0.51 AC lot
    View details
    24 5th Ave Nwz1
    MOBILE HOME PARK, TRAILER PARK

    24 5th Ave Nwz1, Pelican Rapids, MN 56572-4103

    $220,000
    Estimated value
    View details
    101 4th Ave Nwa1
    MOBILE HOME PARK, TRAILER PARK

    101 4th Ave Nwa1, Pelican Rapids, MN 56572-4016

    $235,000
    Estimated value
    View details
    400 2nd St Nwe1
    MOBILE HOME PARK, TRAILER PARK

    400 2nd St Nwe1, Pelican Rapids, MN 56572-4032

    $330,000
    Estimated value
    View details
    Pelican Rapids, MN 56572
    MOBILE HOME PARK, TRAILER PARK

    Pelican Rapids, MN 56572

    $265,000
    Estimated value
    0.11 AC lot
    View details

    Pelican Rapids, MN Multifamily Properties Market Trends and Statistics

    Explore 6 multifamily properties for sale in Pelican Rapids, MN on our real estate platform. These investment opportunities span a total of 3,400 square feet of properties for sale, with an estimated market value of $298,500.

    Sale prices for multifamily properties in Pelican Rapids, MN average $298,500 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Triplexes 1

    Demographics Overview

    Population 5,900
    Population Growth (5Y) +11.1%
    Median Household Income $83,631
    College Educated 38.4%

    Taxes & Financing

    Tax Rate (average for all types) 2.80%
    Property Tax per SF $22.30 per SF
    Tax Rate vs County Average 0.53 pp above county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Otter Tail County

    New Delisted

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