3520 12th Avenue S, Minneapolis, MN 55407 (MLS# 7088951)
$2,425,000
Minneapolis, MN 55407
MLS# 7088951
13700 sqft
1 / 10
Property Description
21-unit multifamily in Minneapolis's Powderhorn Park neighborhood offered at $2,425,000 ($115,476/door). This 1BR, 2BR, and studio building features on-site parking and shared laundry with current rents running below market, presenting immediate upside for a new owner. The most recent capital upgrade was a brand new roof in 2026, with newer mechanicals, a clean exterior, and numerous energy efficiency appliance upgrades through the Minneapolis 4D program which also keeps taxes low. Many units have already been remodeled with additional turns remaining, creating a clear and executable value-add path. Potential NOI of $193,648 with meaningful rent upside still on the table. Ideal for an operator or passive investor looking to deploy into a proven south Minneapolis value-add multifamily. Available individually or as part of a 7-property, 89-unit South Minneapolis portfolio offered at $9,750,000. Refer to OM for more details.
Details
Maps
Documents
Contract Information
Status: Active
Current Price: 2425000
Contingency: None
ListPrice: 2425000
List Date: 2026-06-08
Owner is an Agent?: Yes
Auction?: No
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 15
Owner Occupied: No
Waterfront YN: No
Year Built: 1968
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 4566
For Sale or Lease: For Sale
Acres: 0.43
Lot Dimensions: 152.90 X 122.00
Assessment Pending: Yes
Location Tax and Other Information
House Number: 3520
Street Name: 12th
Street Suffix: Avenue
Street Direction Suffix: S
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55407
Complex/Dev/Subdivision: Maben & Whites Add
Assessments
Assessment Balance: 847.07
Tax With Assessments: 17072.6
Building Information
Building Finished SqFt: 13700
Building SqFt: 13700
Income and Expenses
Annual Gross Expenses: 94387
Annual Gross Income: 295800
Annual Net Income: 193648
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, Fixture/Equipment, Land, Rental License
Unit 1
No. of 1 Bedroom Units: 12
Unit 2
No. of 2 Bedroom Units: 8
Unit Details
Total Units: 21
Unit Information
No. of Efficiency Units: 1
Property Features
Accessible: None
Assumable Loan: Not Assumable
CMU Style: Apartments/Multi Family; Low Rise
Construction Status: Previously Owned
Current Use: Residential
Exterior: Brick/Stone; Vinyl
Foundation: Concrete Block
Fuel: Electric; Natural Gas
Heating: Boiler
Loan Terms: Cash; Conventional
On Site Utilities: Electric Common; Electric Separate; Heating Common; Hot Water Common
Parking Characteristics: Parking Lot; Paved Lot
Rental License Type: Standard
Sewer: City Sewer/Connected
Stories: Two
Water: City Water/Connected
OM S Minneapolis.pdf Listing Office: Commercial Investors Group LLC
Last Updated: August - 27 - 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. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
Monday 12th of October 2026 03:14 AM
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