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$ 2,425,000
Est. payment /mo
New
3520 12th AVE S Minneapolis, MN 55407
0.43 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision Maben & Whites Add
MLS Listing ID 7088951
Year Built 1968
Annual Tax Amount $16,225
Tax Year 2026
Contingent None
Lot Size 0.430 Acres
Lot Dimensions 152.90 X 122.00
Property Description
21-unit multifamily in Minneapolis's Powderhorn Park neighborhood offered at $2,425,000 ($115,476/door). This 1BR, 2BR, and studio building features on-site parking and shared laundry with current rents running below market, presenting immediate upside for a new owner. The most recent capital upgrade was a brand new roof in 2026, with newer mechanicals, a clean exterior, and numerous energy efficiency appliance upgrades through the Minneapolis 4D program which also keeps taxes low. Many units have already been remodeled with additional turns remaining, creating a clear and executable value-add path. Potential NOI of $193,648 with meaningful rent upside still on the table. Ideal for an operator or passive investor looking to deploy into a proven south Minneapolis value-add multifamily. Available individually or as part of a 7-property, 89-unit South Minneapolis portfolio offered at $9,750,000. Refer to OM for more details.
Location
State MN
County Hennepin
Zoning Residential-Multi-Family
Interior
Heating Boiler
Inclusions Building, Fixture/Equipment, Land, Rental License
Fireplace No
Exterior
Parking Features Parking Lot, Paved Lot
Utilities Available Electric Common, Electric Separate, Heating Common, Hot Water Common
Present Use Residential
Building
Story Two
Foundation 4566
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
New Construction false
Schools
School District Minneapolis
Listed by Mike Sowers • Commercial Investors Group LLC