Listed by Palomar Real Estate Group
$770,000
Cloquet Cliffs
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,200
Net Rentable (SqFt) 5,200
Cap Rate 8.20%
NOI $68,355
Occupancy 100%
Tenancy Multi
Price per SqFt $148
Year Built 1920
Year Renovated 2025
Buildings 1
Acreage 0.110
Investment Type Value Add
Sale Condition N/A
12-unit apartment complex | 100% Occupied
Investment highlights
•12-unit apartment complex in Cloquet, MN that consists of 1 apartment building
•Centrally located near the St Louis River
•Potential for value-add or stabilized investment opportunity
•The current owners have invested over $280,000 in Capex
•The roof is in good condition
•100% occupancy
•Renovated in 2024, Cloquet Cliffs offers investors the opportunity to invest in a quality asset far below replacement cost
•There is a basement that is entirely empty, that could be repurposed for laundry, self-storage, or some other income-producing purpose
•Strong occupancy of 99.5% in the Cloquet submarket
Listing Contacts
Listed by Palomar Real Estate Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$68,355.00
$5,696.25/mo
Valuation Metrics
0
DSCR
8.88%
Cap Rate
8.88%
ROI
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