2637 Pleasant Avenue, Minneapolis, MN 55408

$2,520,000
Property Type: Commercial Lot Size (sq. ft.): 13,939 Status: Active
Current Price: $2,520,000 List Date: 3/16/2026 Last Modified: 5/27/2026

Overview

Description

Attractive 21-unit in the highly sought after Whittier Park neighborhood of Minneapolis, Minnesota. All brick and stucco exterior built in 1966 with great curb appeal. The unit mix features two well appointed 2-bedrooms, fifteen large 1-bedrooms, and four studios. Most of the apartments have been renovated including newer kitchens, bathrooms, luxury vinyl plank flooring, lighting fixtures, and updated appliance packages. The property has newer double pane vinyl replacement windows, two energy efficient hot water boilers, and newer coin operated laundry machines. Close proximity to the Minneapolis College of Art & Design (MCAD), Mpls. Institute of Arts Museum, and downtown Minneapolis. Proforma NOI $187,179 with a cap rate 7.42%.

Listing Details MLS# 7037156

General Property Information

Lot Measurement
Acres
Management Company Name
Self Managed
Multiple PIDs?
No
Other Parking Spaces
19
Owner Occupied
No
Year Built
1966
Yearly/Seasonal
Yearly
Zoning
Residential-Multi-Family
Foundation Size
6900
For Sale or Lease
For Sale
Acres
0.32
Lot Dimensions
85 x 165
Assessment Pending
No
Garage Stalls
0

Property Features

Accessible: None Air Conditioning: Wall Unit(s) Amenities Shared: Coin-op Laundry Owned; Security Building Amenities Unit: Kitchen Center Island; Tile Floors Appliances: Range; Refrigerator Assumable Loan: Not Assumable Basement: Concrete Block; Egress Windows; Full; Storage/Locker CMU Style: Apartments/Multi Family Construction Materials: Brick; Frame Construction Status: Previously Owned Current Use: Residential Existing Financing: Conventional Exterior: Brick/Stone; Stucco Fencing: Partial Flooring: Carpet; Luxury Vinyl Plank; Tile; Vinyl/Linoleum; Wood Foundation: Concrete Block Fuel: Natural Gas Heating: Boiler; Hot Water Internet Options: Cable Loan Terms: Cash; Conventional Lock Box Type: None Lot Description: Tree Coverage - Light On Site Utilities: Electric Separate; Heating Common; Hot Water Common Owner Pays: Fuel; Grounds Care; Insurance; Lawn; Lawn; Maintenance/Repair; Sewer; Taxes; Trash Collection; Water Parking Characteristics: Paved Lot Pool Description: None Potential Use: Income Rent Rate per Foot: Per Month Rental License Type: Standard Road Frontage: City Street; Paved Streets; Sidewalks Road Responsibility: Public Maintained Road Roof: Age Over 8 Years; Flat; Tar/Gravel Sewer: City Sewer/Connected Stories: Three Or More Tenant Pays: Broadband; Electricity Topography: Level Wall Description: Drywall; Plaster Water: City Water/Connected Window Features: Double Pane Windows; Insulated Windows

Contract Information

Contingency
None
ListPrice
2520000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
2637
Street Name
Pleasant
Street Suffix
Avenue
Postal City
Minneapolis
County
Hennepin
State
MN
Zip Code
55408
Complex/Dev/Subdivision
J T Blaisdells Rev Add

Assessments

Tax With Assessments
34094
Assessment Balance
0
Assessment Installment
0

Building Information

Building Finished SqFt
20700
Building SqFt
20700
Ceiling Height
8-10

More Information

Income and Expenses

Annual Caretaker Expense
2400
Annual Electric Expense
3240
Annual Fuel Expense
6712
Annual Gross Expenses
78726
Annual Gross Income
265906
Annual Insurance Expense
8500
Annual Maintenance Expense
6300
Annual Net Income
187179
Annual Trash Expense
2730
Annual Water/Sewer Expense
11000
Total Annual Expenses
78726

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Public Survey Info

Range#
24
Section#
34
Township#
29

Sale Options

Sale Includes
Building, Land, Leases, Rental License

Unit 1

No. of 1 Bedroom Units
15

Unit 2

No. of 2 Bedroom Units
2

Unit Details

Total Units
21

Unit Information

No. of Efficiency Units
4

Office/Member Info

Association
SPAAR

Location, Tax and Other Information

Legal Description
BLOCK 015 J T BLAISDELLS REVISED ADDN TO MPLS LOT 17 AND N 40 FT OF LOT 16
Listing City
Minneapolis
Map Page
106
Municipality
Minneapolis
School District
Minneapolis
School District Phone
612-668-0000
Zip Plus 4
1924
Property ID Number
3402924310047
Tax Year
2026
Tax Amount
34094
In Foreclosure?
No
Potential Short Sale?
No
Lender Owned?
No

Directions & Remarks

Public Remarks
Attractive 21-unit in the highly sought after Whittier Park neighborhood of Minneapolis, Minnesota. All brick and stucco exterior built in 1966 with great curb appeal. The unit mix features two well appointed 2-bedrooms, fifteen large 1-bedrooms, and four studios. Most of the apartments have been renovated including newer kitchens, bathrooms, luxury vinyl plank flooring, lighting fixtures, and updated appliance packages. The property has newer double pane vinyl replacement windows, two energy efficient hot water boilers, and newer coin operated laundry machines. Close proximity to the Minneapolis College of Art & Design (MCAD), Mpls. Institute of Arts Museum, and downtown Minneapolis. Proforma NOI $187,179 with a cap rate 7.42%.
Directions
Whittier Neighborhood / on lake go to Pleasant and go north to property.

Accessible

None
Yes

Air Conditioning

Wall Unit(s)
Yes

Amenities Shared

Coin-op Laundry Owned
Yes
Security Building
Yes

Amenities Unit

Kitchen Center Island
Yes
Tile Floors
Yes

Appliances

Range
Yes
Refrigerator
Yes

Assumable Loan

Not Assumable
Yes

Basement

Concrete Block
Yes
Egress Windows
Yes
Full
Yes
Storage/Locker
Yes

Construction Materials

Brick
Yes
Frame
Yes

Construction Status

Previously Owned
Yes

Existing Financing

Conventional
Yes

Exterior

Brick/Stone
Yes
Stucco
Yes

Fencing

Partial
Yes

Flooring

Carpet
Yes
Luxury Vinyl Plank
Yes
Tile
Yes
Vinyl/Linoleum
Yes
Wood
Yes

Foundation

Concrete Block
Yes

Fuel

Natural Gas
Yes

Heating

Boiler
Yes
Hot Water
Yes

Internet Options

Cable
Yes

Lock Box Type

None
Yes

Lot Description

Tree Coverage - Light
Yes

Owner Pays

Fuel
Yes
Grounds Care
Yes
Insurance
Yes
Lawn
Yes
Maintenance/Repair
Yes
Sewer
Yes
Taxes
Yes
Trash Collection
Yes
Water
Yes

Parking Characteristics

Paved Lot
Yes

Pool Description

None
Yes

Rental License Type

Standard
Yes

Road Frontage

City Street
Yes
Paved Streets
Yes
Sidewalks
Yes

Road Responsibility

Public Maintained Road
Yes

Roof

Age Over 8 Years
Yes
Flat
Yes
Tar/Gravel
Yes

Sewer

City Sewer/Connected
Yes

Stories

Three Or More
Yes

Topography

Level
Yes

Wall Description

Drywall
Yes
Plaster
Yes

Water

City Water/Connected
Yes

Window Features

Double Pane Windows
Yes
Insulated Windows
Yes

No. of Ranges

One Per Unit
Yes

No. of Refrigerators

One Per Unit
Yes

Tenant Pays

Broadband
Yes
Electricity
Yes

On Site Utilities

Electric Separate
Yes
Heating Common
Yes
Hot Water Common
Yes

CMU Style

Apartments/Multi Family
Yes

Current Use

Residential
Yes

Loan Terms

Cash
Yes
Conventional
Yes

Potential Use

Income
Yes

Rent Rate per Foot

Per Month
Yes

Documents

IDX
Listing Office: Apartment Cash Flow, Inc.
Last Updated: May - 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. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
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