3500 1st Avenue S,Minneapolis, MN 55408
Minneapolis, MN 55408
Description
Excellent opportunity to acquire a South Minneapolis multifamily portfolio with strong long-term upside potential in desirable urban neighborhoods. Properties offer a mix of stable cash flow, value-add opportunities, and proximity to transit, parks, restaurants, and major employment centers. Ideal for investors seeking scale, operational efficiency, and long-term appreciation within the Minneapolis urban core. Public Remarks: Exceptional investment opportunity in the heart of South Minneapolis! This well-maintained 4-plex at 3500 1st Ave S, Minneapolis, MN 55408 features four large 3-bedroom, 1-bath units with updated kitchens, stainless steel appliances, and separately metered utilities for streamlined management and tenant convenience. The property generates strong rental income with average rents of approximately $1,600 per month per unit, plus additional garage income from the detached 3-car garage at $75 per stall monthly. Spacious layouts, functional floorplans, and consistent rental demand make this an attractive long-term hold with excellent cash-flow potential. Ideally located near transit, restaurants, parks, shopping, and major Minneapolis amenities, this property offers both convenience and strong tenant appeal in a highly sought-after urban location. Additional upside potential through the City of Minneapolis 4D Affordable Housing Incentive Program, which allows a new owner to reduce property taxes by up to 40% annually by enrolling qualifying units. Perfect opportunity for investors seeking stable income and long-term appreciation or an owner-occupant looking to offset housing costs with substantial rental revenue.
Details
| MLS # | 7075302 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1914 |
| Days On Site | 146 |
| Listing Provided By | Summit Realty LLC | David H Berglund |
Features
| Bed(s) | 12 |
|---|---|
| Bath(s) | 4 |
| SQ Feet | 4,680 |
| Garage | 3 |
| Basement | Y |
| Story(s) | 2 |
| Units | 4 |
| Zoning | Residential-Multi-Family |
| Acreage | 0.14 |
Interior
| Heating | Boiler |
|---|
Exterior
| Roof | Flat |
|---|---|
| Lot Features | Public Transit (w/in 6 blks) |
Parking
| Parking Features | Detached Garage |
|---|
Taxes
| Property | 11718 |
|---|
Area Information
| State | MN |
|---|---|
| County | Hennepin |
| City | Minneapolis |
| Zip Code | 55408 |
| Area | 48 |
| Community Name | Shartles Add |
| School District | 1 |
| High School | Minneapolis |
| Listing VS Median (in Shartles Add) | |
Price: $725,000 low | high Med: $487,950 sqft: 4,680 low | high Med: 3,290 $ / sqft: $155 low | high Med: $143 On site: 146 low | high Med: 81.5 | |
Market Activity 55408
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Listings courtesy of Northstar MLS as distributed by MLS GRID.
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Learn More About This Property
| State | MN |
|---|---|
| County | Hennepin |
| City | Minneapolis |
| Zip Code | 55408 |
| Area | 48 |
| Community Name | Shartles Add |
| School District | 1 |
| High School | Minneapolis |
| Listing VS Median (in Shartles Add) | |
Price: $725,000 low | high Med: $487,950 sqft: 4,680 low | high Med: 3,290 $ / sqft: $155 low | high Med: $143 On site: 146 low | high Med: 81.5 | |
