3500 1st Avenue S, Minneapolis, MN 55408

• 12 beds |
• 4 baths |
• 4,680 sqft

Property Description

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. Ideal for investors seeking scale, operational efficiency, and long-term appreciation within the Minneapolis urban core. Public 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. The 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. Ideally 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. Additional 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. Perfect opportunity for investors seeking stable income and long-term appreciation or an owner-occupant looking to offset housing costs with substantial rental revenue.

Listing Status:

Active

Data Last Updated:

August 6, 2026 at 4:18AM

Listing Office:

Summit Realty LLC : 612-708-2631

MLS ID:

7075302

Interior

• Basement: Full
• Heating: Boiler

Exterior

• General: Stucco
• Pool: None
• Parking: Detached Garage

Construction

• Roofing: Flat
• General: TwoStone

Location

• Road/Access: City StreetCurbsPaved StreetsSidewalks
• HOA Amenities: Patio
• Originating MLS: northstar
• School District: Minneapolis
• County: Hennepin

Lot

• Zoning: 0302824420124
• Fencing: PrivacyWood

Utilities

• Utilities: Circuit Breakers
• Water: City Water - In Street
• Sewer: City Sewer/Connected

Financial

• Source: northstar