3343 15th AVE S, Minneapolis, MN 55407
3343 15th AVE S, Minneapolis, MN 55407
3343 15th AVE S, Minneapolis, MN 55407
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Chad Pederson

Chad Pederson

+1(612) 325-8745
$580,000
Est. payment /mo
7 Beds
5 Baths
4,791 Sqft Lot
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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Subdivision Blooms Sub Of Lts 24 & 32 Lawrence

MLS Listing ID 7093995

Bedrooms 7

Year Built 1905

Annual Tax Amount $9,343

Tax Year 2025

Contingent None

Lot Size 4,791 Sqft

Lot Dimensions 39x123

Property Description

3343 15th Avenue South is a classic up-down five-unit apartment building built in 1905 and ideally positioned directly across from Powderhorn Park, the Powderhorn Park Recreation Center, public pool, and adjacent parking lot. Located in a proven rental corridor of South Minneapolis, the property features spacious units with hardwood floors, high ceilings, strong natural light, and a history of consistent occupancy. Well-maintained through attentive ownership and professional management, the property has benefited from consistent care and investment over time.
The asset generates attractive current cash flow while offering significant value-add potential through improved operational efficiencies. Offered at $580,000 with a pro forma cap rate of 8.6%, the property presents an excellent opportunity for a first-time investor or owner-operator seeking a well-located multifamily asset with stable income, strong rental demand, and substantial upside potential in one of Minneapolis' most established neighborhoods.

Location

State MN

County Hennepin

Zoning Residential-Multi-Family

Interior

Heating Boiler

Inclusions Building

Fireplace No

Exterior

Parking Features Detached Garage

Garage Spaces 2.0

Utilities Available Electric Separate

Present Use Residential

Building

Foundation 1443

Sewer City Sewer/Connected

Water City Water/Connected

New Construction false

Schools

School District Minneapolis

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Listed by Kurt Sauer • Matthews Real Estate Investment Solutions

Nearby School & Business

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Chad Pederson

Chad Pederson

+1(612) 325-8745

Broker | License ID: 20586306

Broker License ID: 20586306

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