3018 Chicago Avenue, Minneapolis, MN 55407 (MLS# 7111896)
$649,900
Minneapolis, MN 55407
MLS# 7111896
12 beds | 5 baths | 5234 sqft
1 / 56
Property Description
Excellent investment opportunity. This spacious triplex features three legal rental units plus a non-conforming basement unit for additional rental income, with a total of 12 bedrooms throughout the property. All units are currently occupied and generating income. Numerous updates have been completed, including a brand-new roof, new exterior paint, and many additional improvements throughout. A great opportunity for an investor or owner-occupant looking to generate rental income and build long-term equity.
Details
Maps
Contract Information
Status: Active
Contingency: None
Current Price: 649900
Original List Price: 649900
ListPrice: 649900
List Date: 2026-07-18
Owner is an Agent?: No
Auction?: No
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Waterfront YN: No
Year Built: 1909
Yearly/Seasonal: Yearly
Bedrooms: 12
Baths Total: 5
Main Floor Total SqFt: 1596
Above Ground SqFt: 3638
Below Grd Total SqFt: 1596
Total SqFt: 5234
Foundation Size: 1596
Style: (MF) Triplex
Total Finished Sqft: 4439.00
Garage Stalls: 2
Lot Dimensions: 124x47
Acres: 0.13
Assessment Pending: No
Location Tax and Other Information
House Number: 3018
Street Name: Chicago
Street Suffix: Avenue
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55407
Complex/Dev/Subdivision: Chicago Lake Park Add
Assessments
Tax With Assessments: 12680
Building Information
Finished SqFt Above Ground: 3638
Finished SqFt Below Ground: 801
Income and Expenses
Annual Gross Income: 60900
Annual Insurance Expense: 500
Annual Maintenance Expense: 4000
Annual Repair Expense: 3700
Annual Trash Expense: 1000
Annual Water/Sewer Expense: 3000
Total Annual Expenses: 5000
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
DP Resource: Yes
Homestead: No
Ownership
Fractional Ownership: No
Parking Characteristics
Garage Square Feet: 360
Public Survey Info
Range#: 24
Section#: 02
Township#: 28
Unit 1
Furnished?: No
Leased?: Yes
Level: Main Level
Unit Number: 1
Annual Rent: 24000
Finished SqFt: 1596
Full Baths: 1
Monthly Expense: 200
Monthly Rent: 2000
No. of Units Like This: 1
Total Baths: 1
Total Bedrooms: 3
Total Rooms: 6
Unit 2
Furnished?: No
Leased?: Yes
Unit Number: 2
Annual Rent: 21960
Full Baths: 2
Monthly Expense: 200
Monthly Rent: 1830
No. of Units Like This: 1
Total Baths: 2
Total Bedrooms: 3
Total Rooms: 6
Unit 3
Furnished?: No
Leased?: No
Level: Below Ground
Unit Number: 3
1/2 Baths: 1
Annual Rent: 14400
Monthly Expense: 200
Monthly Rent: 1200
No. of Units Like This: 1
Total Baths: 1
Total Bedrooms: 4
Total Rooms: 5
Unit 4
Furnished?: No
Leased?: No
Level: 3rd Level
Unit Number: 4
3/4 Baths: 1
Annual Rent: 20400
Monthly Expense: 200
Monthly Rent: 1700
No. of Units Like This: 1
Total Baths: 1
Total Bedrooms: 2
Total Rooms: 5
Unit Details
Total Units: 4
Property Features
Accessible: None
Amenities Shared: Coin-op Laundry Owned
Assumable Loan: Not Assumable
Basement: Egress Windows; Full
Construction Status: Previously Owned
Exterior: Stucco
Fencing: Wood
Foundation: Concrete Block
Fuel: Electric; Natural Gas
Heating: Baseboard
Laundry: Common Area
Owner Pays: Insurance; Lawn; Maintenance/Repair; Snow Removal; Taxes; Trash Collection
Road Frontage: City Street
Roof: Age Over 8 Years; Asphalt Shingles
Sellers Terms: Cash; Conventional; FHA; VA
Sewer: City Sewer/Connected
Tenant Pays: Broadband; Electricity; Fuel
Water: City Water/Connected
Listing Office: RE/MAX Results
Last Updated: July - 20 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
Monday 20th of July 2026 06:18 PM
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