3033 15th Avenue S, Minneapolis, MN 55407 (MLS# 7049047)
$775,000
Minneapolis, MN 55407
MLS# 7049047
6 beds | 8 baths
1 / 35
Property Description
Well-maintained 8-unit apartment building offering consistent in-place income and long-term ownership stability. Fully occupied with a mix of one-bedroom and studio units, generating over $100,000 / year in rental income. This property is enrolled in the Minneapolis 4D Affordable Housing Program, providing a significant property tax reduction and enhancing overall cash flow â an attractive feature for investors seeking reliable returns. Recent ownership has focused on maintaining a clean, functional property with stable tenancy, making this a true turnkey opportunity. Building features include coin-operated laundry, separate electric, and practical unit layouts that support consistent occupancy. Additional upside potential exists through continued rent optimization and operational efficiencies. Ideal for investors seeking: Strong day-one cash flow, tax-advantaged ownership and a stabilized asset with operational upside.
Details
Maps
Contract Information
Status: Active
Current Price: 775000
Contingency: None
ListPrice: 775000
List Date: 2026-04-03
Owner is an Agent?: No
Auction?: No
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 6
Owner Occupied: No
Waterfront Present: No
Year Built: 1971
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Bedrooms: 6
Baths Total: 8
Foundation Size: 2384
Power Company: Xcel Energy
For Sale or Lease: For Sale
Acres: 0.17
Lot Dimensions: 60 x 123
Assessment Pending: No
Location Tax and Other Information
House Number: 3033
Street Name: 15th
Street Suffix: Avenue
Street Direction Suffix: S
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55407
Complex/Dev/Subdivision: Williams Add
Assessments
Assessment Balance: 342
Assessment Installment: 342
Tax With Assessments: 2671.82
Building Information
Building Finished SqFt: 5368
Building SqFt: 5368
Income and Expenses
Annual Caretaker Expense: 3540
Annual Electric Expense: 587
Annual Fuel Expense: 4397
Annual Gross Expenses: 34328
Annual Gross Income: 103080
Annual Insurance Expense: 3835
Annual Maintenance Expense: 5154
Annual Net Income: 68752
Annual Trash Expense: 2871
Annual Water/Sewer Expense: 4767
Total Annual Expenses: 34328
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
Homestead: No
Ownership
Fractional Ownership: No
Public Survey Info
Range#: 24
Section#: 02
Township#: 28
Sale Options
Sale Includes: Building, Land, Leases
Unit 1
Unit Number: 301
Monthly Rent: 1000
Full Baths: 1
Total Bathrooms: 1
Total Bedrooms: 1
Total Rooms: 4
Level: Main Level
Unit Total SqFt: 528
Leased?: Yes
Lease Expiration Date: 2026-05-31
No. of 1 Bedroom Units: 6
Unit 2
Full Baths: 1
Lease Expiration Date: 2026-05-31
Leased?: Yes
Level: Main Level
Monthly Rent: 1045
Total Bathrooms: 1
Total Bedrooms: 1
Total Rooms: 4
Unit Number: 302
Unit Total SqFt: 528
Unit 3
Full Baths: 1
Lease Expiration Date: 2027-03-31
Leased?: Yes
Level: Main Level
Monthly Rent: 950
Total Bathrooms: 1
Total Rooms: 3
Unit Number: 303
Unit Total SqFt: 500
Unit 4
Full Baths: 1
Lease Expiration Date: 2026-04-30
Leased?: Yes
Level: Main Level
Total Bathrooms: 1
Total Rooms: 3
Unit Number: 304
Unit Total SqFt: 500
Unit 5
Full Baths: 1
Lease Expiration Date: 2026-05-31
Leased?: Yes
Level: 2nd Level
Monthly Rent: 1050
Total Bathrooms: 1
Total Bedrooms: 1
Total Rooms: 4
Unit Number: 305
Unit Total SqFt: 528
Unit 6
Full Baths: 1
Lease Expiration Date: 2026-12-31
Leased?: Yes
Level: 2nd Level
Monthly Rent: 1100
Total Bathrooms: 1
Total Bedrooms: 1
Total Rooms: 4
Unit Number: 306
Unit Total SqFt: 528
Unit 7
Full Baths: 1
Lease Expiration Date: 2026-10-31
Leased?: Yes
Level: 2nd Level
Monthly Rent: 1450
Total Bathrooms: 1
Total Bedrooms: 1
Total Rooms: 4
Unit Number: 307
Unit Total SqFt: 528
Unit 8
Full Baths: 1
Lease Expiration Date: 2026-05-31
Leased?: Yes
Level: 2nd Level
Monthly Rent: 1100
Total Bathrooms: 1
Total Bedrooms: 1
Total Rooms: 4
Unit Number: 308
Unit Total SqFt: 528
Unit Details
Total Units: 8
Unit Information
No. of Efficiency Units: 2
Property Features
Accessible: None
Air Conditioning: Wall Unit(s)
Appliances: Range; Refrigerator
Assumable Loan: Not Assumable
Basement: None
CMU Style: Apartments/Multi Family
Construction Materials: Frame
Construction Status: Previously Owned
Current Use: Residential
Exterior: Stucco
Fencing: Chain Link
Flooring: Carpet; Luxury Vinyl Plank
Foundation: Concrete Block
Fuel: Natural Gas
Heating: Boiler; Hot Water; Radiator
Loan Terms: Cash; Conventional
Location Description: Free Standing
Lot Description: Tree Coverage - Light
Miscellaneous Information: Alley
On Site Utilities: Electric Separate; Heating Common; Hot Water Common
Owner Pays: Gas; Heat; Hot Water; Insurance; Lawn; Lawn; Maintenance/Repair; Sewer; Snow Removal; Taxes; Trash Collection; Water
Rental License Type: Standard
Road Frontage: City Street
Road Responsibility: Public Maintained Road
Roof: Flat; Rubber
Sewer: City Sewer/Connected
Stories: Two
Tenant Pays: Electricity
Wall Description: Drywall
Water: City Water/Connected
Listing Office: Peritus Real Estate
Last Updated: May - 27 - 2026
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