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$1,145,000
Est. payment /mo
11 Beds
11 Baths
7,840 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision Maben & Whites Add
MLS Listing ID 7071343
Bedrooms 11
Year Built 1961
Annual Tax Amount $19,693
Tax Year 2026
Contingent None
Lot Size 7,840 Sqft
Lot Dimensions 63X123
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.
Location
State MN
County Hennepin
Zoning Residential-Multi-Family
Interior
Heating Boiler
Cooling Window Unit(s)
Inclusions Building, Land
Fireplace No
Exterior
Parking Features Parking Lot
Utilities Available Electric Separate, Heating Separate
Present Use Residential
Building
Story Three Or More
Foundation 2852
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Three Or More
New Construction false
Schools
School District Minneapolis
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Listed by Ahmed Samatar • Universal Realty LLC
NEARBY SCHOOL & BUSINESS
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