3500 1st Avenue S Minneapolis, MN 55408

Features

Features

Property Features

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NorthstarMLS® data last updated at July 23, 2020 7:53 PM CT

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{"Id":565854,"ORGTABLE":"RAW_Property","MLSCLASS":"RES","MLSNUMBER":"NST7075302","MLSAGENTID":"NST506011955","MLSOFFICEID":"NST252067","ADDRESS":"3500 1st Avenue S","ACRES":0.14,"AGENTOWNER":false,"AUCTIONYN":false,"BASEMENT":"Full","BATHSTOTAL":4.0,"BEDROOMS":12.0,"CITY":"Minneapolis","CONTINGENCY":"None","COUNTY":"Hennepin","DISTRIBUTEADDRESSTOINTERNET":true,"DISTRIBUTETOINTERNET":true,"FORECLOSURE":"No","LASTPRICE":774900.0,"LASTPRICEDATE":"2026-06-30T04:15:05.87","LATITUDE":44.939391,"LENDEROWNED":"No","LISTDATE":"2026-06-01T05:00:00","LISTPRICE":744900.0,"LIVINGAREA":4680.0,"LONGITUDE":-93.276987,"LOTDESCRIPTION":"Public Transit (w/in 6 blks)","MODIFICATIONTIMESTAMP":"2026-06-30T04:15:05.871","NEIGHBORHOOD":"48","OFFICE_OFFICENAME":"Summit Realty LLC","PHOTOCOUNT":25,"POSTALCODE":"55408","POTENTIALSHORTSALE":"No","PRESENTUSE":"Yearly","PUBLICREMARKS":"Excellent opportunity to acquire a South Minneapolis multifamily portfolio with strong long-term upside potential in desirable urban neighborhoods. Properties offer a mix of stable cash flow, value-add opportunities, and proximity to transit, parks, restaurants, and major employment centers.\n\n \n\nIdeal for investors seeking scale, operational efficiency, and long-term appreciation within the Minneapolis urban core.\n\nPublic Remarks: Exceptional investment opportunity in the heart of South Minneapolis! This well-maintained 4-plex at 3500 1st Ave S, Minneapolis, MN 55408 features four large 3-bedroom, 1-bath units with updated kitchens, stainless steel appliances, and separately metered utilities for streamlined management and tenant convenience.\n\nThe property generates strong rental income with average rents of approximately $1,600 per month per unit, plus additional garage income from the detached 3-car garage at $75 per stall monthly. Spacious layouts, functional floorplans, and consistent rental demand make this an attractive long-term hold with excellent cash-flow potential.\n\nIdeally located near transit, restaurants, parks, shopping, and major Minneapolis amenities, this property offers both convenience and strong tenant appeal in a highly sought-after urban location.\n\nAdditional upside potential through the City of Minneapolis 4D Affordable Housing Incentive Program, which allows a new owner to reduce property taxes by up to 40% annually by enrolling qualifying units.\n\nPerfect opportunity for investors seeking stable income and long-term appreciation or an owner-occupant looking to offset housing costs with substantial rental revenue.","ROADBETWEENWATERFRONTANDHOMEYN":false,"ROOF":"Flat","SCHOOLDISTRICTNUMBER":"1-Minneapolis","SCHOOLDISTRICTPHONE":"6126680000","SEWER":"City Sewer/Connected","STATEORPROVINCE":"MN","STATUS":"Active","STATUSDATE":"2026-06-01T21:16:09.843","LASTSTATUS":"Active","STREETDIRSUFFIX":"S","STREETNAME":"1st","STREETNUMBER":"3500","STREETSUFFIX":"Avenue","STYLE":"Fourplex","TRANSACTIONTYPE":"For","WATER":"City Water - In Street","WATERFRONTPRESENT":false,"YEARBUILT":1914,"ZONING":"Residential-Multi-Family","HASOPENHOUSE":false,"PHOTOTIMESTAMP":"2026-06-29T18:27:08.856","PHOTOORDER":"1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25","SOURCE":"MG_NST"}