Property Listing
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.
Property Information
Status: Active
Sub Type: ********
List Price: $774,900
MLS#: 7075302
Current Price: $774,900
Address: 3500 1st Avenue S, Minneapolis, MN 55408
City: Minneapolis
State: MN
Postal Code: 55408
Geo Lat: 44.939391
Geo Lon: -93.276987
Subdivision: Shartles Add
County: Hennepin
Property Description
Year Built: 1914
Lot Size SqFt: 6098.4
Gen Tax: 11718
Specials Inst: 0
High School: Minneapolis
Square Ft. Source:
Above Grade Finished Area: 4680
Below Grade Finished Area: 0
Below Grade Unfinished Area:
Total SqFt.: 7020
Style: Array
Total Bedrooms: 12
Total Bathrooms: 4
Total Full Baths:
Garage Type:
Garage Stalls: 3
Waterfront:
Property Features
Exterior:
Roof:
Foundation:
Lot Feat/Fld Plain: Array
Interior Amenities:
Inclusions: ********
Exterior Amenities:
Heat System:
Air Conditioning:
Utilities: