$ 725,000
-
$725,000
Price -
9
Bed -
4
Bath -
4,680
SqFt -
0.14
Acre
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About the Listing 252067 - 506011955
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.
Listing Highlights
Interior Details
- Bedrooms: 9
- Bathrooms: 3 Full
- Appliances:
- Air Cond:
- Heating: Boiler,Natural Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft: 4680
- Basement: Full
- Other:
- Water: City Water - In Street
Exterior Details
- Lot Description: Public Transit (w/in 6 blks),Privacy,Wood
- Garage Capacity: 3 car
- Lot Dimensions: 47 x 126
- Zoning: Residential-Multi-Family
- Roof: Flat
- Others:
- Sewer: City Sewer/Connected
- Parking Features: Detached Garage
Financial Details
- Tax Amount: $11,718
- Taxes w/Assessments: N/A
- Tax/Property ID: 0302824420124
- Tax Year: 2026
Payment Calculator
Monthly Payment
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Questions About..
3500 1st Ave S Minneapolis, MN 55408
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