For Sale: Minneapolis MLS# 7071343
Active
NEW!
$1,195,000
Commercial: Other
11 br • 11 ba • Built 1961
0.18 acres
Minneapolis schools
MLS# 7071343
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Property Description
3537 11th Ave S, Minneapolis, MN 55407 presents an exceptional opportunity to acquire a fully occupied 11-unit multifamily property in one of South Minneapolis’ strongest rental corridors. The building consists of spacious one-bedroom apartments and has maintained a long history of 100% occupancy with consistent tenant demand and active waiting lists, demonstrating the area’s strong need for affordable workforce housing. Located in the highly desirable Powderhorn Park neighborhood near parks, public transit, shopping, restaurants, and universities, the property attracts stable long-term renters including young professionals, students, healthcare workers, and service employees. The asset features updated units, controlled access, on-site laundry, security system, on-site parking in addition to abundant free street parking, and a strong operational history, providing dependable cash flow with additional upside through future rent growth and continued improvements. Current rents are below market, providing investors with a clear value-add opportunity to increase income and maximize returns through strategic rent adjustments while maintaining strong occupancy. Comparable multifamily properties in the immediate area continue to experience low vacancy rates and strong investor demand due to the neighborhood’s affordability, walkability, and accessibility, making this an outstanding opportunity for investors seeking a stabilized, income-producing asset with long-term appreciation potential in a proven Minneapolis rental market.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,195,000
Property Type:
Commercial
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1961
State:
MN
Property Style:
Other
Zip Code:
55407
Neighborhood/Area:
64
Subdivision Name:
Maben & Whites Add
Interior
Bedrooms:
11
Bathrooms:
11
Exterior
Stories:
Three Or More
Garage Spaces:
0
Air Conditioning:
Window Unit(s)
Foundation Size:
2,852 ft2
Handicap Accessible:
Other
Heating System:
Boiler
Parking Features:
Parking Lot
Lot & Land
Acres:
0.18
Geolocation:
44.93834, -93.258397
Inclusions:
Building, Land
Lot Dimensions:
63X123
Zoning:
Residential-Multi-Family
Schools
School District:
1
District Phone:
6126680000
Expenses
Tenant Expenses:
Electricity, Gas
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$19,693
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$20,528
Income
Annual Gross Income:
$143,220
Rent
Annual Net Income:
$39,111
Units
Total Units:
11
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Universal Realty LLC.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.