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$ 419,900
Est. payment /mo
New
3605 S 3rd AVE Minneapolis, MN 55409
7 Beds
3 Baths
2,570 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,570 sqft
Price per Sqft $163
MLS Listing ID 7074993
Bedrooms 7
Year Built 1910
Annual Tax Amount $6,252
Tax Year 2026
Contingent None
Lot Size 5,227 Sqft
Lot Dimensions 40x130
Property Sub-Type Triplex
Property Description
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.
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.
Location
State MN
County Hennepin
Rooms
Basement Unfinished
Interior
Heating Forced Air, Space Heater
Fireplace No
Laundry In Basement
Exterior
Parking Features Concrete
Building
Story Two
Foundation 1034
Sewer City Sewer - In Street
Water City Water/Connected
Level or Stories Two
New Construction false
Schools
School District Minneapolis
Others
Special Listing Condition In Foreclosure, Short Sale
Listed by David Berglund • Summit Realty LLC