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$580,000
Est. payment /mo
7 Beds
5 Baths
4,791 Sqft Lot
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.
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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