3605 S 3rd Avenue, Minneapolis, MN 55409
- $409,900
- 7
- BD
- 3
- BA
- 2,570
- SqFt
- List Price
- $409,900
- Price Change
- ▼ $10,000 1782811061
- MLS#
- 7074993
- Status
- OTHER
- Type
- Multifamily
- Style
- (MF) Triplex
- Bedrooms
- 7
- Bathrooms
- 3
- Living Area
- 2,570
- Acres
- 0.12
- Neighborhood
- 11
- Year Built
- 1910
Property Description
Public Remarks: Fantastic investment opportunity in the desirable Central neighborhood of South Minneapolis! This classic triplex blends timeless character with solid income potential and long-term upside. The property features updated mechanicals, newer vinyl thermopane windows, and three income-producing units currently rented at $1,575, $1,590, and $1,000 per month. Located in a highly walkable and bike-friendly area near transit, parks, restaurants, and the Midtown Greenway, this property offers strong tenant appeal and convenient access to everything South Minneapolis has to offer. Ideal for an owner-occupant seeking supplemental rental income or an investor looking for a stable multifamily asset in the urban core. Opportunity to convert currently rented nonconforming unit to conforming through the addition of an exterior staircase. Additional financial upside available through the City of Minneapolis 4D Affordable Housing Incentive Program, which can reduce property taxes by up to 40% annually if qualifying units are enrolled. Strong cash flow, classic charm, and future upside make this a compelling opportunity in one of Minneapolis’ most connected neighborhoods.
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Additional Information
- School District
- Minneapolis
- Tax Year
- 2026
- Fuel
- Electric, Natural Gas
- Sewer
- City Sewer - In Street
- Short Sale
- Yes
- Heating
- Forced Air, Space Heater
- Water
- City Water/Connected
- Basement
- Unfinished
- Parking
- Concrete
Mortgage Calculator
Listing courtesy of Summit Realty LLC.
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