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Browse All Minneapolis MN Between $500K - $600K Properties for Sale

$500,000
4 Beds 4 Baths 7082395 MLS
Classic Powderhorn fourplex offering split utilities, enduring original character, and consistent rental demand in one of South Minneapolis’ most established neighborhoods. Situated on a corner lot just blocks from Powderhorn Park, this well-maintained property features four spacious 1-bedroom, 1-bath units with separate gas and electric, individual furnaces and water heaters, shared laundry, off-street parking, and a detached two-stall garage. Each unit retains the architectural details that continue to support long-term rental appeal, including original hardwood floors, built-in buffets, natural woodwork, and. enclosed porches that provide additional functional living space. Recent improvements include fresh exterior paint, new gutters, updated LED lighting throughout, electronic locks, updated landscaping, shared laundry with new washer and dryer, and a new water heater. The property offers stable in-place income with additional upside potential through future improvements over time. Additional features include basement storage lockers, rear deck access, and four off-street parking spaces in addition to the garage. Conveniently located near Powderhorn Park, transit, bike trails, downtown Minneapolis, and neighborhood dining and retail, this is an opportunity to acquire a well-positioned Minneapolis multi-family asset in a consistently strong rental corridor.

3400 Elliot Avenue, Minneapolis

Listing courtesy of Keller Williams Realty Integrity Lakes.

$500,000
7074383 MLS
Commercial building in the heart of Northeast Minneapolis Arts District. Located along a high-traffic corridor surrounded by restaurants, studios, shops, and neighborhood activity. Property could immediately be used as an art gallery / studio or easily converted into a coffee shop, retail space, office, or potential live/work situation. The front 1,000 square feet currently functions as an art gallery with dramatic 13-foot ceilings, excellent lighting, and a clean / open layout. The building includes approximately $15,000 in upgraded lighting that includes dimmable fluorescents and LED cans, making it ideal for displaying artwork, retail products, or creating a polished office/studio environment. Ample space can be found in the backyard which features new sod and is also completely fenced in with 6 foot horizontal privacy fencing. The fence has a locking gate on one side going to the front and a second locking gate going to the parking lot. The parking lot is accessible from the alley in back. Majority of the structure was built new in 2017. Included at that time: New HVAC, roof, electrical, plumbing and windows. Recent updates include newly painted exterior, floors, walls, and fresh sod, all in 2026. The space looks fresh, clean, and ready for immediate occupancy. Previously used as the art studio and gallery of a well-known local painter. 2847 Central Avenue NE offers a rare combination of visibility, flexibility, character, and practical workspace. Come make your own masterpiece!

2847 Central Avenue NE, Minneapolis

Listing courtesy of Lifestyles.

$549,000
7056708 MLS
Rare Southwest Minneapolis development opportunity at 5020 Xerxes Ave S. This 42’ x 128’ paved commercial lot (approx. 5,376 SF) offers exceptional potential in one of Minneapolis’ most desirable urban neighborhoods. Currently utilized as a parking lot, the site presents a clean, redevelopment-ready footprint with no structural demolition required, creating immediate appeal for developers seeking a faster path to entitlement and construction. Positioned just steps from West 50th Street transit connections, the property enjoys excellent accessibility via Metro Transit Routes 36 and 46, with direct service north to Uptown and south to Southdale and surrounding employment centers. The lot is ideally suited for its highest and best use as boutique mixed-use, live/work, small multifamily, or premium residential infill, subject to zoning verification with the City of Minneapolis zoning maps. The surrounding corridor supports a vibrant blend of neighborhood retail, office, and residential uses, making this a compelling opportunity for a 2–3 story mixed-use concept with street presence and upper-level residential units. Located in a highly walkable Southwest Minneapolis node near neighborhood services, retail, dining, and established residential demand, this is an ideal acquisition for a local infill developer, boutique builder, or owner-user investor seeking a strategic foothold in a supply-constrained market.

5020 Xerxes Avenue S, Minneapolis

Listing courtesy of Keller Williams Realty Integrity Lakes.

$574,900
3 Beds 3 Baths 7031370 MLS
This is a must-see! Absolutely stunning home with amazing quality upgrades throughout. Beautiful built-in cabinetry, excellent woodwork, modernized yet celebrating some of the original appeal. Superb insulation and a newer, more efficient heating system. The open main floor plan benefits from the large windows. You’ll benefit from the efficient use of space – and when you want to relax, you’ll love the lower-level steam shower room! Or perhaps you’ll choose unwinding in the living area, enjoying the sound system wired throughout the home. The 3rd Bedroom/guest quarters in the pull-down loft area is both spacious and charming! Ideal for a bedroom, but also a great study or hobby room! Some of the additional features: -Primary bedroom walk-in closet with built-in dressers -Zoned residential/commercial -2 gas fireplaces with stone surround -Storage, storage, storage! -Whole-house audio system -Over 50 dimmer switches throughout home -Cedar closet in basement -Stunning chandeliers and antique light fixtures -Spray foam insulation keeps heating and cooling bills low -2 year-old Roof with 15- year material and labor warranty -Central heating and cooling throughout home -1 spa bathroom; 2 marble bathrooms -9x15 workshop/ she shed with tongue and groove throughout. This is an excellent location for all City activities; walking, biking, trails, and lakes all available within minutes. Excellent location with convenient access to the bus line - with connection to the light rail to the airport. So many features! A wonderful home in a superb location! On-street parking right now, and the seller is working with the City to open a driveway on the property. Taxes reflect veterans’ exemption. Workshop is T&G finished outbuilding. The LL flexroom is used as a BR, has a nice window, but is not considered legal egress.

3801 Lyndale Avenue S, Minneapolis

Listing courtesy of Sandelands Realty.

$534,000
4 Beds 3 Baths 6784451 MLS
Upper-level unit of a classic Lowry Hill two-unit condo building. Stately brick and stucco exterior on corner lot. New roof in 2024. Southwestern exposure in the main living spaces provide a bright and airy feel. You are welcomed into a large living room with hardwood floors, woodburning fireplace, leaded glass built ins and crown molding. Sunroom with three sides of windows. French doors lead into the formal dining room with board and batten walls, glass fronted built in and box beamed ceiling. Kitchen is neutral and clean. Flat fronted, ivory cabinets with modern pulls, butcherblock counters and commercial style faucet. Gas range and stainless steel refrigerator, microwave and dishwasher. Access to 30' x 10' private deck, overlooking the neighborhood towards Mount Curve. Deck redone in 2023 and features plumbed, gas line grill. There is also access to rear stairs to lower level and two car garage. Main level also features a large primary suite with private three-quarter bathroom, second bedroom and full hall bathroom with original tile. Upper level is partially vaulted to take advantage of the roofline. Spacious family with woodburning fireplace and skylight. Laundry closet with newer washer and dryer. Full hall bathroom with soaking tub and separate shower. This level also features a third bedroom and a legal fourth bedroom, which is not counted, as it is currently fitted out to be a walk-in closet. Lower level has a common utility room and private 15' x 7' storage area. Only six blocks to the Walker Art Center and Sculpture Garden. Easy access to highways, bus routes, shopping, restaurants, and parks.

1222 Douglas Avenue, Minneapolis

Listing courtesy of Coldwell Banker Realty - Lakes.

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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Regional Multiple Listing Service of Minnesota. Real estate listings held by brokerage firms other this firm are marked with the Broker Reciprocity logo. Information Deemed Reliable But Not Guaranteed. Property locations as displayed on any map are best approximations only and exact locations should be independently verified.

Listing data © 2026 Regional Multiple Listing Service of Minnesota. All rights reserved. By searching, you agree to the EULA.

Between $500K - $600K Minneapolis Real Estate

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