3845 Chicago Avenue, Minneapolis, MN 55407 (MLS# 6768264)
$585,000
Minneapolis, MN 55407
MLS# 6768264
Status: Closed
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Property Description
This 6-unit apartment building is classic brownstone building built in 1931. It has five 2-bedroom units and one studio unit. Fully occupied remodeled units. Updated vinyl windows, roof replaced in 2010, six separate furnaces & electric meters and newer coin laundry in the basement. Tier 1 rental license and professionally managed by a reputable local management company. Located in south Minneapolis, the property is near several parks and lakes including Lakes Nokomis, Hiawatha and Powderhorn. No lack of supply of restaurants and retail in the neighborhood.
Details
Maps
Contract Information
Status: Closed
Off Market Date: 2026-04-21
Current Price: 597000
Closed Date: 2026-05-20
Sales Close Price: 597000
Contingency: None
ListPrice: 585000
List Date: 2025-08-08
Owner is an Agent?: Yes
Auction?: No
General Property Information
Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 5
Owner Occupied: No
Waterfront Present: No
Year Built: 1931
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family, Residential-Single Famil
Foundation Size: 1790
For Sale or Lease: For Sale
Acres: 0.13
Lot Dimensions: 46.00 X 122.00
Assessment Pending: No
Location Tax and Other Information
House Number: 3845
Street Name: Chicago
Street Suffix: Avenue
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55407
Complex/Dev/Subdivision: Chicago Ave Park
Assessments
Tax With Assessments: 11288
Building Information
Building Finished SqFt: 5369
Income and Expenses
Annual Electric Expense: 900
Annual Fuel Expense: 2100
Annual Gross Expenses: 40567
Annual Gross Income: 89346
Annual Insurance Expense: 6700
Annual Maintenance Expense: 2000
Annual Net Income: 48556
Annual Repair Expense: 2000
Annual Trash Expense: 4500
Annual Water/Sewer Expense: 2350
Total Annual Expenses: 40567
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
Homestead: No
Ownership
Fractional Ownership: No
Public Survey Info
Range#: 24
Section#: 11
Township#: 28
Sale Options
Sale Includes: Building
Unit 2
No. of 2 Bedroom Units: 5
Unit Details
Total Units: 6
Unit Information
No. of Efficiency Units: 1
Property Features
Accessible: None
Air Conditioning: Window Unit(s)
Amenities Shared: Coin-op Laundry Owned
Appliances: Range; Refrigerator
Assumable Loan: Not Assumable
CMU Style: Apartments/Multi Family
Construction Materials: Brick; Frame
Construction Status: Previously Owned
Current Use: Residential
Existing Financing: Conventional
Exterior: Brick/Stone
Financing Terms: Conventional
Foundation: Concrete Block
Fuel: Natural Gas
Heating: Forced Air
Loan Terms: Cash; Conventional
On Site Utilities: Electric Common; Heating Common; Hot Water Common
Owner Pays: Electricity; Gas; Heat; Hot Water; Lawn; Lawn; Maintenance/Repair; Management; Pest Control; Repairs; Sewer; Snow Removal; Trash Collection; Water
Parking Characteristics: Paved Lot
Rental License Type: Standard
Sewer: City Sewer - In Street
Stories: Two
Tenant Pays: Electricity
Water: City Water - In Street
Listing Office: Metro Group Real Estate
Last Updated: May - 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.
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