3514 Grand Avenue S,Minneapolis, MN 55408
Minneapolis, MN 55408
Description
A rare turnkey 2005-built fourplex, legally non-conforming, in one of Minneapolis's most in-demand rental submarkets this property offers investors a stabilized asset with strong, consistent rents across all four units. The property has had zero vacancies in five years, and strong tenant quality and rental history make it a proven income producer from day one, not a projection. Current gross rents total $7,650 per month, or $91,800 annually. There's also a clear value-add lever: water can be separately metered so tenants cover their own usage, immediately improving NOI. Built in 2005, the property is newer construction than most of the surrounding rental stock, meaning lower near-term capex risk on major systems, and all four units feature modern kitchens, updated baths, and in-unit laundry amenities that support premium rents and tenant retention. Located within walking distance to Uptown's restaurants, retail, and transit, the property benefits from the kind of walkability that keeps this submarket in consistent demand and supports long-term appreciation. With stabilized cash flow and a clear expense-reduction opportunity, this non-conforming fourplex offers rare in-place income in one of Uptown's tightest rental markets.
Details
| MLS # | 7079275 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 2005 |
| Days On Site | 91 |
| Listing Provided By | Real Broker, LLC | Shelbie Cox |
Features
| Bed(s) | 10 |
|---|---|
| Bath(s) | 8 |
| SQ Feet | 4,900 |
| Garage | 3 |
| Basement | Y |
| Story(s) | 2 |
| Units | 3 |
| Zoning | Residential-Multi-Family |
| Acreage | 0.13 |
Interior
| Heating | Forced Air |
|---|
Exterior
| Roof | Age Over 8 Years |
|---|
Parking
| Parking Features | Detached Garage |
|---|
Taxes
| Property | 14668 |
|---|
Area Information
| State | MN |
|---|---|
| County | Hennepin |
| City | Minneapolis |
| Zip Code | 55408 |
| Area | 48 |
| Community Name | Bakers Add |
| School District | 1 |
| High School | Minneapolis |
| Listing VS Median (in Bakers Add) | |
Price: $849,900 low | high Med: $440,000 sqft: 4,900 low | high Med: 2,164 $ / sqft: $173 low | high Med: $203 On site: 91 low | high Med: 23 | |
Market Activity 55408
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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 | 55408 |
| Area | 48 |
| Community Name | Bakers Add |
| School District | 1 |
| High School | Minneapolis |
| Listing VS Median (in Bakers Add) | |
Price: $849,900 low | high Med: $440,000 sqft: 4,900 low | high Med: 2,164 $ / sqft: $173 low | high Med: $203 On site: 91 low | high Med: 23 | |
