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For Sale:  Minneapolis MLS# 7093995

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Active
$580,000
/mo Edit
Commercial:  Other
7 br • 5 ba • Built 1905
0.11 acres
Minneapolis schools
MLS# 7093995
763-576-8286
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    Property Description

    3343 15th Avenue South is a classic up-down five-unit apartment building built in 1905 and ideally positioned directly across from Powderhorn Park, the Powderhorn Park Recreation Center, public pool, and adjacent parking lot. Located in a proven rental corridor of South Minneapolis, the property features spacious units with hardwood floors, high ceilings, strong natural light, and a history of consistent occupancy. Well-maintained through attentive ownership and professional management, the property has benefited from consistent care and investment over time. The asset generates attractive current cash flow while offering significant value-add potential through improved operational efficiencies. Offered at $580, 000 with a pro forma cap rate of 8.6%, the property presents an excellent opportunity for a first-time investor or owner-operator seeking a well-located multifamily asset with stable income, strong rental demand, and substantial upside potential in one of Minneapolis' most established neighborhoods.

    Listing

    Listing Status: Active
    Contingency: None
    List Price: $580,000
    Property Type: Commercial
    City: Minneapolis
    Garage Spaces: 2
    County: Hennepin
    Year Built: 1905
    State: MN
    Property Style: Other
    Zip Code: 55407
    Neighborhood/Area: 64
    Subdivision Name: Blooms Sub Of Lts 24 & 32 Lawrence

    Interior

    Bedrooms: 7
    Bathrooms: 5

    Exterior

    Garage Spaces: 2
    Garage Size: 400 ft2
    Foundation Size: 1,443 ft2
    Handicap Accessible: None
    Heating System: Boiler
    Parking Features: Detached Garage

    Lake & Waterfront

    Waterfront Present: N

    Lot & Land

    Acres: 0.11
    Geolocation: 44.941632, -93.253373
    Inclusions: Building
    Lot Dimensions: 39 x 123
    Zoning: Residential-Multi-Family

    Schools

    School District: 1
    District Phone: 6126680000

    Expenses

    Annual Caretaker Expense: None
    Annual Electric Expense: $1,240
    Annual Fuel Expense: $3,462
    Annual Insurance Expense: $8,517
    Annual Trash Expense: $118
    Annual Water/Sewer Expense: $4,287

    Financial & Taxes

    Tax Year: 2025
    Annual Taxes: $9,343
    Lender-owned: No
    Assessment Pending: No
    Taxes w/ Assessments: $9,574

    Income

    Annual Gross Income: $75,860

    Units

    Total Units: 5

    Miscellaneous

    Current Use: Residential
    Fuel System: Natural Gas
    Sewer System: City Sewer/Connected
    Available Utilities: Electric Separate
    Water System: City Water/Connected

    Mortgage Calculator

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    Payment:  /mo

    Local Home Mortgage Professionals

    Eric Bloomstrand
    Branch Sales Manager
    Fairway Home Mortgage    NMLS#274211
    612-961-2600
    Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
    Connect with Eric today to get started with your home purchase!

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    Listing provided by RMLS, courtesy of Matthews Real Estate Investment Solutions.
    Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.