2809 Garfield Avenue, Minneapolis, MN 55408

New Listing
$549,000
Property Type: Multi-Family Bedrooms: 5 Baths: 2 Square Footage: 2,863 Lot Size (sq. ft.): 5,227 Status: Active
Current Price: $549,000 List Date: 10/10/2025 Last Modified: 10/10/2025

Description

Prime Lyn-Lake Investment Opportunity An exceptional chance to acquire a well-maintained duplex in one of Minneapolis’ most vibrant neighborhoods. Steps to the Greenway Bike Trail, Soo Line, top restaurants, and retail, this property offers both immediate cash flow and long-term appreciation potential. Recent capital improvements include: new roof, siding, Rusco windows, and refinished hardwood floors (all 2019), plus updated kitchens, baths, light fixtures, and stainless appliances. A 4-car parking area adds rare convenience. Utilities are separately metered for gas and electric, reducing owner overhead. Current income streams: Upper Unit – Market-rate tenant paying $1,775/month. Lower 3BR Unit – Proven Airbnb performer, averaging an estimated $3,500/month. Flexible for investors or owner-occupants: live in one unit and generate income from the other, or maximize both as cash-flowing rentals. Strong fundamentals today and positioned for future redevelopment or land value play in this high-demand corridor. Exceptional value. Strong income. Limited opportunity. Act now.

More Information MLS# 6800669

Contract Information

Owner is an Agent?: No Auction?: No Status: Active Contingency: None Current Price: $549,000 Original List Price: 549000 ListPrice: 549000 List Date: 2025-10-07

Office/Member Info

Association: MAAR

General Property Information

Lot Measurement: Acres Multiple PIDs?: No Owner Occupied: No Year Built: 1900 Yearly/Seasonal: Yearly Zoning: Residential-Multi-Family Lot Dimensions: 40x129 Acres: 0.12 Main Floor Total SqFt: 1560 Below Grd Total SqFt: 0 Above Ground SqFt: 2863 Total Finished Sqft: 2863.00 Foundation Size: 1560 Style: (MF) Duplex Up and Down Garage Stalls: 0 Bedrooms: 5 Baths Total: 2 Total SqFt: 2863

Location, Tax and Other Information

Legal Description: LOT 012 BLOCK 001 HAYWOODS ADDN TO MPLS Listing City: Minneapolis Map Page: 106 Municipality: Minneapolis School District Phone: 612-668-0000 Zip Plus 4: 2105 Property ID Number: 3402924330161 Tax Year: 2025 Tax Amount: 7489 In Foreclosure?: No Potential Short Sale?: No Lender Owned?: No

Directions & Remarks

Public Remarks: Prime Lyn-Lake Investment Opportunity An exceptional chance to acquire a well-maintained duplex in one of Minneapolis’ most vibrant neighborhoods. Steps to the Greenway Bike Trail, Soo Line, top restaurants, and retail, this property offers both immediate cash flow and long-term appreciation potential. Recent capital improvements include: new roof, siding, Rusco windows, and refinished hardwood floors (all 2019), plus updated kitchens, baths, light fixtures, and stainless appliances. A 4-car parking area adds rare convenience. Utilities are separately metered for gas and electric, reducing owner overhead. Current income streams: Upper Unit – Market-rate tenant paying $1,775/month. Lower 3BR Unit – Proven Airbnb performer, averaging an estimated $3,500/month. Flexible for investors or owner-occupants: live in one unit and generate income from the other, or maximize both as cash-flowing rentals. Strong fundamentals today and positioned for future redevelopment or land value play in this high-demand corridor. Exceptional value. Strong income. Limited opportunity. Act now. Directions: Lyndale Ave to 28th. Right to Garfield Ave. Right to 2809 Garfield Ave.

Accessible

None: 1

Amenities Shared

Common Garden: 1

Assessments

Assessment Balance: 7489 Tax With Assessments: 7489

Basement

Single Tenant Access: 1 Unfinished: 1

Building Information

Finished SqFt Above Ground: 2863

Construction Status

Previously Owned: 1

Exterior

Vinyl: 1 Wood: 1

Foundation

Other: 1

Fuel

Other: 1

Heating

Forced Air: 1 Radiant: 1 Space Heater: 1

Laundry

In Unit: 1

Lease Details

Land Leased: Not Applicable

Lot Description

Irregular Lot: 1

Miscellaneous Information

DP Resource: Yes Homestead: No

Owner Pays

Common Area Maintenance: 1 HVAC Maintenance: 1 Insurance: 1 Lawn: 1 Repairs: 1 Snow Removal: 1 Taxes: 1 Trash Collection: 1 Water: 1

Ownership

Fractional Ownership: No

Parking Characteristics

Parking Lot: 1 Uncovered/Open: 1

Patio, Porch and Deck Features

Covered: 1 Front Porch: 1

Public Survey Info

Range#: 24 Section#: 34 Township#: 29

Rental License Type

Airbnb: 1 Standard: 1

Roof

Age 8 Years or Less: 1

Sellers Terms

Cash: 1 Conventional: 1

Sewer

City Sewer/Connected: 1

Stories

Two: 1

Unit 1

Furnished?: No Leased?: No Level: Main Level Unit Number: 1 Monthly Rent: 3000 Full Baths: 1 Total Rooms: 7 Annual Rent: 36000 Finished SqFt: 1560 No. of Units Like This: 1 Oth Parking Spaces: 2 Total Baths: 1 Total Bedrooms: 3

Unit Details

Total Units: 2

Water

City Water/Connected: 1

Income and Expenses

Annual Caretaker Expense: 0 Annual Electric Expense: 0 Annual Fuel Expense: 0 Annual Gross Expenses: 5850 Annual Gross Income: 55650 Annual Insurance Expense: 2000 Annual Maintenance Expense: 2750 Annual Net Income: 0 Annual Repair Expense: 0 Annual Trash Expense: 624 Annual Water/Sewer Expense: 0 Misc Monthly Income: 0 Misc. Annual Income: 0 Total Annual Expenses: 5850

No. of Ranges

Two: 1

No. of Refrigerators

Two: 1

Tenant Pays

Cable TV: 1 Electricity: 1 Gas: 1 Heat: 1

Unit 1 Amenities

Cable: 1 Hardwood Floors: 1 Kitchen Window: 1 Main Floor Primary Bedroom: 1 Washer/Dryer Hookup: 1

Unit 1 Appliances

Freezer: 1 Range: 1 Refrigerator: 1

Unit 1 Bath Description

Main Floor Full Bath: 1

Unit 1 Dining Room Description

Separate/Formal Dining Rm: 1

Unit 1 Special Search

Main Floor Bedroom: 1 3 BR on One Level: 1 All Living Fac. on One Level: 1

Unit 2

Furnished?: No Lease Expiration Date: 2026-06-30 Leased?: Yes Level: 2nd Level Unit Number: 2 # of Fireplaces: 1 Annual Rent: 21300 Finished SqFt: 1302 Full Baths: 1 Monthly Rent: 1775 No. of Units Like This: 1 Oth Parking Spaces: 2 Total Baths: 1 Total Bedrooms: 2 Total Rooms: 6

Unit 2 Amenities

Cable: 1 Hardwood Floors: 1 Kitchen Window: 1 Porch: 1

Unit 2 Appliances

Freezer: 1 Range: 1 Refrigerator: 1

Unit 2 Bath Description

Main Floor Full Bath: 1

Unit 2 Cooling

Window: 1

Unit 2 Dining Room Description

Living/Dining Room: 1

Unit 2 Fireplace Char

Decorative: 1 Living Room: 1

Location Tax and Other Information

House Number: 2809 Street Name: Garfield Street Suffix: Avenue Postal City: Minneapolis County: Hennepin State: MN Zip Code: 55408 Complex/Dev/Subdivision: Haywoods Add

Property Features

Accessible: None Amenities Shared: Common Garden Basement: Single Tenant Access; Unfinished Construction Status: Previously Owned Exterior: Vinyl; Wood Foundation: Other Fuel: Other Heating: Forced Air; Radiant; Space Heater Laundry: In Unit Lot Description: Irregular Lot Owner Pays: Common Area Maintenance; HVAC Maintenance; Insurance; Lawn; Repairs; Snow Removal; Taxes; Trash Collection; Water Parking Characteristics: Parking Lot; Uncovered/Open Rental License Type: Airbnb; Standard Roof: Age 8 Years or Less Sellers Terms: Cash; Conventional Sewer: City Sewer/Connected Stories: Two Tenant Pays: Cable TV; Electricity; Gas; Heat Unit 1 Amenities: Cable; Hardwood Floors; Kitchen Window; Main Floor Primary Bedroom; Washer/Dryer Hookup Unit 1 Appliances: Freezer; Range; Refrigerator Unit 1 Bath Description: Main Floor Full Bath Unit 1 Dining Room Description: Separate/Formal Dining Rm Unit 1 Special Search: Main Floor Bedroom; 3 BR on One Level; All Living Fac. on One Level Unit 2 Amenities: Cable; Hardwood Floors; Kitchen Window; Porch Unit 2 Appliances: Freezer; Range; Refrigerator Unit 2 Bath Description: Main Floor Full Bath Unit 2 Cooling: Window Unit 2 Dining Room Description: Living/Dining Room Unit 2 Fireplace Char: Decorative; Living Room Water: City Water/Connected
Listing Office: Coldwell Banker Realty
Last Updated: October - 10 - 2025
2809 Garfield Avenue, Minneapolis, MN 55408- MLS# 6800669
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.