3343 15th Avenue S,Minneapolis, MN 55407
Minneapolis, MN 55407
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.
Details
| MLS # | 7093995 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1905 |
| Days On Site | 66 |
| Listing Provided By | Matthews Real Estate Investment Solutions | Kurt Sauer |
Features
| Bed(s) | 7 |
|---|---|
| Bath(s) | 5 |
| Garage | 2 |
| Units | 5 |
| Zoning | Residential-Multi-Family |
| Acreage | 0.11 |
Interior
| Heating | Boiler |
|---|
Parking
| Parking Features | Detached Garage |
|---|
Utilities
| Utilities | Electric Separate |
|---|
Taxes
| Property | 9343 |
|---|
Area Information
| State | MN |
|---|---|
| County | Hennepin |
| City | Minneapolis |
| Zip Code | 55407 |
| Area | 64 |
| Community Name | Blooms Sub Of Lts 24 & 32 Lawrence |
| School District | 1 |
| High School | Minneapolis |
| Listing VS Median (in Blooms Sub Of Lts 24 & 32 Lawrence) | |
Price: $580,000 low | high Med: $0 On site: 66 low | high Med: | |
Market Activity 55407
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Listings courtesy of Northstar MLS as distributed by MLS GRID.
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Learn More About This Property
| State | MN |
|---|---|
| County | Hennepin |
| City | Minneapolis |
| Zip Code | 55407 |
| Area | 64 |
| Community Name | Blooms Sub Of Lts 24 & 32 Lawrence |
| School District | 1 |
| High School | Minneapolis |
| Listing VS Median (in Blooms Sub Of Lts 24 & 32 Lawrence) | |
Price: $580,000 low | high Med: $0 On site: 66 low | high Med: | |
