5-Plex for Sale in Bemidji, Minnesota: A Rare Multifamily Investment Opportunity Near Bemidji State University
Looking for an investment property in Bemidji, Minnesota? A rare opportunity is now available at 923 Beltrami Ave NW, Bemidji, MN 56601—a licensed five-unit apartment property offering multiple rental units, a convenient location, and established income potential.
Listed at $329,900, this vintage Bemidji multifamily property may be an excellent opportunity for an investor looking to expand a rental portfolio or purchase an income-producing property in Northern Minnesota.
A Five-Unit Investment Property in Bemidji
The property features five licensed rental units, including:
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Four one-bedroom apartments
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One efficiency unit
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Five off-street parking spaces
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Approximately 3,220 square feet of building space
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A partial basement, including partially finished space
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A porch
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A recently replaced roof
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City water and city sewer
Each unit has its own unique character. Several units feature classic details such as hardwood floors and high ceilings, creating the vintage charm that makes older Bemidji properties unique.
The property is currently licensed for five units and offers investors multiple income streams from one property.
Rental Income and Investment Potential
According to the current listing information, the property produces:
Annual Gross Income: $43,200
Annual Operating Expenses: $4,344
Annual Net Income: $38,856
These figures are based on the current listing information and should be independently reviewed and verified by prospective buyers. Buyers should also evaluate financing costs, property management expenses, capital expenditures, maintenance, repairs, insurance, taxes, and other ownership costs when analyzing the investment.
The current expense structure includes owner-paid costs such as heat, water, sewer, garbage, and certain common-area electric expenses. Tenants pay their own electricity in three of the units, while the landlord pays electricity for the upstairs unit, including common hallway lighting.
For investors, the property offers the potential advantage of having several rental units in one location rather than managing multiple individual properties spread across a market.
Convenient Location Near Bemidji State University
Location is one of the most important factors in rental property investing, and 923 Beltrami Ave NW is located in a convenient Bemidji neighborhood.
The property is:
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Within walking distance of Bemidji State University
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Minutes from Downtown Bemidji
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Close to shopping
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Near parks and recreational opportunities
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Convenient to Lake Bemidji
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Located on a quiet residential street
The combination of location, unit sizes, and proximity to major community amenities may help make these units attractive to renters looking for convenient housing in Bemidji.
Why One-Bedroom Apartments Can Be Attractive to Investors
The property includes four one-bedroom apartments, a unit type that can appeal to a wide range of renters.
Potential renters for one-bedroom units may include:
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College students
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Young professionals
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Individuals relocating to Bemidji
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People seeking affordable housing
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Workers looking for convenient access to downtown
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Renters who prefer a smaller, lower-maintenance living space
Rental demand can vary over time, and investors should conduct their own market research and due diligence. However, properties with multiple smaller units can provide flexibility when managing tenant turnover and leasing.
Vintage Character With Important Updates
Originally built in 1910, the property offers the character and details associated with a vintage Bemidji building.
Features include:
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Classic architectural character
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Hardwood floors in some units
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High ceilings in some units
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Unique layouts and finishes
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Vinyl exterior
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Forced-air heat
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Natural gas fuel
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City water and sewer
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Gravel parking area
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Porch
The roof has been replaced within the last eight years, providing an important update for prospective owners.
A Potential Addition to a Minnesota Real Estate Portfolio
For investors searching for multifamily real estate in Minnesota, a five-unit property can offer an opportunity to acquire several rental units in a single transaction.
This Bemidji property may appeal to:
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Experienced real estate investors
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First-time multifamily investors
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Buy-and-hold investors
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Investors expanding a Northern Minnesota portfolio
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Buyers looking for income-producing real estate
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Investors interested in properties near a college campus
Every investment property is different, and buyers should conduct appropriate due diligence, including reviewing leases, income, expenses, taxes, insurance, property condition, zoning, licensing, financing, and future capital needs.
923 Beltrami Ave NW Property Details
Property Type: Apartments / Multifamily
Number of Units: 5
Unit Mix: 4 one-bedroom units + 1 efficiency
List Price: $329,900
Building Size: Approximately 3,220 square feet
Year Built: 1910
Lot Size: Approximately 0.12 acres
Parking: 5 off-street spaces
Heating: Forced air
Fuel: Natural gas
Water/Sewer: City connected
Zoning: Residential Multi-Family / Residential Single-Family
Location: Bemidji, Minnesota
Looking for Investment Property in Bemidji?
If you have been searching for:
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Investment property for sale in Bemidji
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Multifamily property in Bemidji, Minnesota
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Apartment buildings for sale in Northern Minnesota
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A five-plex for sale in Minnesota
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Rental property near Bemidji State University
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Income-producing real estate in Bemidji
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Minnesota real estate investment opportunities
923 Beltrami Ave NW deserves a closer look.
Properties offering five licensed rental units in a convenient Bemidji location are not always available, making this a unique opportunity for buyers looking to enter or expand in the multifamily investment market.
923 Beltrami Ave NW, Bemidji, MN 56601
Listed at $329,900
MLS #7070991
View the full listing, photos, financial information, unit details, and current property information on the Headwaters Realty Services website.
All information, income figures, expenses, property details, and availability are based on current listing information and are subject to change. Prospective buyers should independently verify all information and perform their own due diligence.
About Headwaters Realty Services
Headwaters Realty Services helps buyers and sellers navigate real estate opportunities throughout Bemidji and Northern Minnesota, including residential homes, lake properties, land, commercial real estate, and investment properties.
Whether you are looking to purchase your first rental property, expand an existing portfolio, sell a multifamily property, or explore real estate opportunities in Northern Minnesota, working with a local real estate professional can help you better understand the market and the property.
Headwaters Realty Services
Bemidji, Minnesota