3500 1ST AVENUE
3500 1st Avenue, Minneapolis, 55408, MN
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Price: $744,900
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Status type: For Sale
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City: Minneapolis
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Neighborhood: 48
Bedrooms: 12
Property Size :4680
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Listing Agent: NST1000810,NST102525
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Property type : Fourplex
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Zip code: 55408
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Street: 3500 1st Avenue
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Street: 3500 1st Avenue
Bathrooms: 4
Year: 1914
Listing Brokerage: Summit Realty LLC
DETAILS
Excellent opportunity to acquire a South Minneapolis multifamily portfolio with strong long-term upside potential in desirable urban neighborhoods. Properties offer a mix of stable cash flow, value-add opportunities, and proximity to transit, parks, restaurants, and major employment centers. Ideal for investors seeking scale, operational efficiency, and long-term appreciation within the Minneapolis urban core. Public Remarks: Exceptional investment opportunity in the heart of South Minneapolis! This well-maintained 4-plex at 3500 1st Ave S, Minneapolis, MN 55408 features four large 3-bedroom, 1-bath units with updated kitchens, stainless steel appliances, and separately metered utilities for streamlined management and tenant convenience. The property generates strong rental income with average rents of approximately $1,600 per month per unit, plus additional garage income from the detached 3-car garage at $75 per stall monthly. Spacious layouts, functional floorplans, and consistent rental demand make this an attractive long-term hold with excellent cash-flow potential. Ideally located near transit, restaurants, parks, shopping, and major Minneapolis amenities, this property offers both convenience and strong tenant appeal in a highly sought-after urban location. Additional upside potential through the City of Minneapolis 4D Affordable Housing Incentive Program, which allows a new owner to reduce property taxes by up to 40% annually by enrolling qualifying units. Perfect opportunity for investors seeking stable income and long-term appreciation or an owner-occupant looking to offset housing costs with substantial rental revenue.
INTERIOR
Bedrooms: 12
Fin ft² / Living Area: 4680 ft²
Below Ground Living: N/A
Bathrooms: 4
Above Ground Living: 4680ft²
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Basement Details: Full,
Appliances Included:
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EXTERIOR
Air Conditioning: N/A
Garage Spaces: 3
Construction Materials: N/A
Foundation Size: 2340ft²
Unit Amenities:
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Heating System:
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- Boiler
LOT
Acres: N/A
Lot Size Dim.: 47 x 126
Longitude: 44.9394
Latitude: -93.277
Zoning: Residential-Multi-Family
FINANCIAL & TAXES
Tax year: 2026
Tax annual amount: $11,718
MISCELLANEOUS
Fuel System: N/A
Sewer System: City Sewer/Connected
Water System: City Water - In Street
ADDITIONAL INFORMATION
MLS#: NST7902746
Listing Brokerage: Summit Realty LLC
ID: 4896712
Published: June 01, 2026
Last Update: June 01, 2026
Views: 20
