Property Listing
Description
Well-maintained 8-unit apartment building offering consistent in-place income and long-term ownership stability. Fully occupied with a mix of one-bedroom and studio units, generating over $100,000 / year in rental income. This property is enrolled in the Minneapolis 4D Affordable Housing Program, providing a significant property tax reduction and enhancing overall cash flow — an attractive feature for investors seeking reliable returns. Recent ownership has focused on maintaining a clean, functional property with stable tenancy, making this a true turnkey opportunity. Building features include coin-operated laundry, separate electric, and practical unit layouts that support consistent occupancy. Additional upside potential exists through continued rent optimization and operational efficiencies. Also available is the adjacent lot at 3037 15th Ave S, offering potential for future development, expanded amenities, or added income (buyer to verify). Ideal for investors seeking: Strong day-one cash flow, tax-advantaged ownership and a stabilized asset with operational upside. Consider purchasing the vacant lot that is available next door.
Property Information
Status: Active
Sub Type: ********
List Price: $775,000
MLS#: 7049047
Current Price: $775,000
Address: 3033 15th Avenue S, Minneapolis, MN 55407
City: Minneapolis
State: MN
Postal Code: 55407
Geo Lat: 44.947352
Geo Lon: -93.253417
Subdivision: Williams Add
County: Hennepin
Property Description
Year Built: 1971
Lot Size SqFt: 7405.2
Gen Tax: 2671.82
Specials Inst: 342
High School: Minneapolis
Square Ft. Source:
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Total SqFt.: ********
Style: ********
Total Bedrooms: 6
Total Bathrooms: 8
Total Full Baths: ********
Garage Type:
Garage Stalls: 0
Waterfront:
Property Features
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Lot Feat/Fld Plain: Array
Interior Amenities:
Inclusions: Building, Land, Leases
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