Property Listing
Description
Public Remarks: Fantastic investment opportunity in the desirable Central neighborhood of South Minneapolis! This classic triplex blends timeless character with solid income potential and long-term upside. The property features updated mechanicals, newer vinyl thermopane windows, and three income-producing units currently rented at $1,575, $1,590, and $1,000 per month. Located in a highly walkable and bike-friendly area near transit, parks, restaurants, and the Midtown Greenway, this property offers strong tenant appeal and convenient access to everything South Minneapolis has to offer. Ideal for an owner-occupant seeking supplemental rental income or an investor looking for a stable multifamily asset in the urban core. Opportunity to convert currently rented nonconforming unit to conforming through the addition of an exterior staircase. Additional financial upside available through the City of Minneapolis 4D Affordable Housing Incentive Program, which can reduce property taxes by up to 40% annually if qualifying units are enrolled. Strong cash flow, classic charm, and future upside make this a compelling opportunity in one of Minneapolis’ most connected neighborhoods.
Property Information
Status: Active
Sub Type: ********
List Price: $419,900
MLS#: 7074993
Current Price: $419,900
Address: 3605 S 3rd Avenue, Minneapolis, MN 55409
City: Minneapolis
State: MN
Postal Code: 55409
Geo Lat: 44.937479
Geo Lon: -93.272368
Subdivision:
County: Hennepin
Property Description
Year Built: 1910
Lot Size SqFt: 5227.2
Gen Tax: 6577
Specials Inst: 325
High School: Minneapolis
Square Ft. Source:
Above Grade Finished Area:
Below Grade Finished Area:
Below Grade Unfinished Area:
Total SqFt.: 3604
Style: Array
Total Bedrooms: 7
Total Bathrooms: 3
Total Full Baths:
Garage Type:
Garage Stalls: 0
Waterfront:
Property Features
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Inclusions: ********
Exterior Amenities:
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