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17 8th St 12 Unit Apartment Building $770,000 ($64,167/Unit) 8.20% Cap Rate Cloquet, MN 55720
INVESTMENT HIGHLIGHTS
- Centrally located near the St Louis River
- Potential for value-add or stabilized investment opportunity
- 100% occupancy
EXECUTIVE SUMMARY
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
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
PROPERTY FACTS
| Price | $770,000 | Apartment Style | Low-Rise |
| Price Per Unit | $64,167 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 8.20% | Building Size | 5,200 SF |
| No. Units | 12 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1920/2024 |
| Price | $770,000 |
| Price Per Unit | $64,167 |
| Sale Type | Investment |
| Cap Rate | 8.20% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 5,200 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1920/2024 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 12 | - | - |
1 1
Walk Score®
Very Walkable (74)
PROPERTY TAXES
| Parcel Number | 06-275-0080 | Improvements Assessment | $301,900 |
| Land Assessment | $21,000 | Total Assessment | $322,900 |
PROPERTY TAXES
Parcel Number
06-275-0080
Land Assessment
$21,000
Improvements Assessment
$301,900
Total Assessment
$322,900
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17 8th St
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