$ 389,900
-
$389,900
Price -
7
Bed -
3
Bath -
2,570
SqFt -
0.12
Acre
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About the Listing 252067 - 506011955
Public Remarks: Fantastic investment opportunity in the desirable Central neighborhood of South Minneapolis! This classic triplex blends timeless character with solid income potential and long-term upside. The property features updated mechanicals, newer vinyl thermopane windows, and three income-producing units currently rented at $1,575, $1,590, and $1,000 per month. Located in a highly walkable and bike-friendly area near transit, parks, restaurants, and the Midtown Greenway, this property offers strong tenant appeal and convenient access to everything South Minneapolis has to offer. Ideal for an owner-occupant seeking supplemental rental income or an investor looking for a stable multifamily asset in the urban core. Opportunity to convert currently rented nonconforming unit to conforming through the addition of an exterior staircase. Additional financial upside available through the City of Minneapolis 4D Affordable Housing Incentive Program, which can reduce property taxes by up to 40% annually if qualifying units are enrolled. Strong cash flow, classic charm, and future upside make this a compelling opportunity in one of Minneapolis’ most connected neighborhoods.
Listing Highlights
Interior Details
- Bedrooms: 7
- Bathrooms: 3 Full
- Appliances:
- Air Cond:
- Heating: Forced Air,Space Heater,Electric,Natural Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 2570
- Basement: Unfinished
- Other:
- Water: City Water/Connected
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 40x130
- Roof:
- Others:
- Sewer: City Sewer - In Street
- Parking Features: Concrete
Financial Details
- Tax Amount: $6,252
- Taxes w/Assessments: N/A
- Tax/Property ID: 0302824440050
- Tax Year: 2026
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Questions About..
3605 S 3rd Ave Minneapolis, MN 55409
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