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$ 1,250,000
Est. payment /mo
New
3540 11th AVE S Minneapolis, MN 55407
7,840 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision Maben & Whites Add
MLS Listing ID 7088981
Year Built 1960
Annual Tax Amount $8,318
Tax Year 2026
Contingent None
Lot Size 7,840 Sqft
Lot Dimensions 63.00 X 126.00
Property Description
11-unit all 1BR/1BA multifamily in Minneapolis's Powderhorn Park neighborhood offered at $1,250,000 ($113,636/door). Less than a block from Powderhorn Park's 66 acres of green space, lake, tennis courts, playgrounds, and recreation center, the property sits in one of the most tenant-friendly locations in the submarket. Recent capital upgrades include newer windows, updated electric panels, a newer boiler, and many units renovated within the last few years. The property is part of the Minneapolis 4D program providing low taxes and has received numerous new appliances through energy efficiency programs. Stable in-place cash flow with a potential NOI of $94,185 and clear value-add upside remaining on turns. 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, Leases
Fireplace No
Exterior
Parking Features Parking Lot
Utilities Available Electric Common, Electric Separate, Heating Common, Hot Water Common
Present Use Residential
Building
Story Two
Foundation 2100
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