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$ 1,275,000
Est. payment /mo
New
3545 12th AVE S Minneapolis, MN 55407
9,147 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision Bloomington Ave Add
MLS Listing ID 7088996
Year Built 1962
Annual Tax Amount $7,590
Tax Year 2026
Contingent None
Lot Size 9,147 Sqft
Lot Dimensions 75 X 123
Property Description
11-unit multifamily in Minneapolis's Corcoran neighborhood offered at $1,275,000 ($113,636/door). The property features a desirable mixed unit mix of 6 two-bedroom and 5 one-bedroom units with market rents of $1,400 and $1,100 respectively, delivering broad renter appeal in a stable primarily residential submarket with strong transit connectivity and consistent tenant demand. Recent capital upgrades include a brand new parking lot in 2025, newer boiler, updated water heaters, and numerous new appliances through energy efficiency programs in 2026. The property is part of the Minneapolis 4D program keeping taxes low. Some units have already been turned with additional value-add upside remaining, all on top of stable in-place cash flow and a potential NOI of $100,377. Available individually or as part of a 7-property, 89-unit South Minneapolis portfolio offered at $9,750,000. Refer to OM for more information.
Location
State MN
County Hennepin
Zoning Residential-Single Family
Interior
Heating Boiler
Inclusions Building, Fixture/Equipment, Land, Leases, Rental License
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 3283
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