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3215 Chicago Avenue S, Minneapolis, MN 55407

$499,900

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https://my.matterport.com/show/?m=XHQeJkxtSE2&brand=0&mls=1&

Property Type: Multi-Family Bedrooms: 4 Baths: 4 Square Footage: 4,140 Lot Size (sq. ft.): 4,792 Status: Active

Current Price: $499,900 List Date: 6/29/2026 Last Modified: 7/10/2026

Overview

Description

Solid brick fourplex on Chicago Avenue South, three units leased and a vacant fourth ready for the next owner to set the rate. Current rents run $1,175 to $1,200 per month with long-term tenants in place. The boiler was replaced seven years ago and the water heater for Unit 2 is new in 2023. Hardwood floors throughout, radiator heat, and individual water heaters per unit. A Metro Transit stop sits directly in front of the building, making this an easy leasing story for future tenants. Consistent occupancy in a neighborhood with steady rental demand.

Listing Details MLS# 7096268

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Waterfront YN: No
Year Built: 1929
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Main Floor Total SqFt: 1380
Above Ground SqFt: 2760
Below Grd Total SqFt: 1380
Total SqFt: 4140
Foundation Size: 1380
Style: (MF) Apartment
Total Finished Sqft: 2760.00
Lot Dimensions: 124x40
Acres: 0.11
Assessment Pending: No
Garage Stalls: 0

Property Features

Accessible: None Amenities Shared: Coin-op Laundry Owned; Patio Basement: Partial Construction Status: Previously Owned Exterior: Stucco Fencing: Chain Link Foundation: Permanent Fuel: Natural Gas Heating: Hot Water Lot Description: Public Transit (w/in 6 blks) Owner Pays: Common Area Maintenance; Exterior Maintenance; Grounds Care; Insurance; Lawn; Maintenance/Repair; Repairs; Sewer; Snow Removal; Taxes; Trash Collection; Water Road Frontage: City Street Road Responsibility: Public Maintained Road Roof: Flat Sewer: City Sewer/Connected Shared Rooms: Other Stories: Two Tenant Pays: Cable TV; Electricity; Fuel; Insurance Unit 1 Appliances: Range; Refrigerator Unit 1 Bath Description: Main Floor Full Bath Unit 1 Cooling: Window Unit 1 Dining Room Description: Eat In Kitchen Unit 2 Appliances: Range; Refrigerator Unit 2 Bath Description: Main Floor Full Bath Unit 2 Cooling: Window Unit 2 Dining Room Description: Eat In Kitchen Unit 3 Appliances: Range; Refrigerator Unit 3 Bath Description: Main Floor Full Bath Unit 3 Cooling: Window Unit 3 Dining Room Description: Eat In Kitchen Unit 4 Appliances: Range; Refrigerator Unit 4 Bath Description: Main Floor Full Bath Unit 4 Cooling: Window Unit 4 Dining Room Description: Eat In Kitchen Water: City Water/Connected

Contract Information

Contingency: None
Original List Price: 499900
ListPrice: 499900
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 3215
Street Name: Chicago
Street Suffix: Avenue
Street Direction Suffix: S
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55407

Assessments

Tax With Assessments: 8532.26
Assessment Balance: 0
Assessment Installment: 0

Building Information

Finished SqFt Above Ground: 2760

More Information

Income and Expenses

Annual Caretaker Expense: 750
Annual Gross Expenses: 19450
Annual Gross Income: 57765
Annual Insurance Expense: 4000
Annual Net Income: 39050
Annual Repair Expense: 2000
Annual Trash Expense: 1000
Annual Water/Sewer Expense: 2200
Misc. Annual Income: 1500
Total Annual Expenses: 19450
Annual Electric Expense: 0
Annual Fuel Expense: 0
Annual Maintenance Expense: 0
Misc Monthly Income: 0

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

DP Resource: Yes
Homestead: No

Ownership

Fractional Ownership: No

Unit 1

Furnished?: No
Lease Expiration Date: 2026-09-30
Leased?: Yes
Unit Number: Yes
Annual Rent: 14100
Finished SqFt: 680
Full Baths: Yes
Monthly Expense: 300
Monthly Rent: 1175
No. of Units Like This: Yes
Oth Parking Spaces: Yes
Total Baths: Yes
Total Bedrooms: Yes
Total Rooms: 4

Unit 2

Furnished?: No
Leased?: No
Unit Number: 2
Finished SqFt: 690
Full Baths: Yes
No. of Units Like This: Yes
Oth Parking Spaces: Yes
Total Baths: Yes
Total Bedrooms: Yes
Total Rooms: 4

Unit 3

Furnished?: No
Lease Expiration Date: 2026-09-30
Leased?: Yes
Unit Number: 3
Annual Rent: 14100
Finished SqFt: 690
Full Baths: Yes
Monthly Expense: 150
Monthly Rent: 1175
No. of Units Like This: Yes
Oth Parking Spaces: Yes
Total Baths: Yes
Total Bedrooms: Yes
Total Rooms: 4

Unit 4

Furnished?: No
Lease Expiration Date: 2027-03-30
Leased?: Yes
Unit Number: 4
Annual Rent: 14100
Finished SqFt: 690
Full Baths: Yes
Monthly Expense: 150
Monthly Rent: 1175
No. of Units Like This: Yes
Oth Parking Spaces: Yes
Total Baths: Yes
Total Bedrooms: Yes
Total Rooms: 4

Unit Details

Total Units: 4

Office/Member Info

Association: MAAR

Location, Tax and Other Information

Legal Description: HARTSON & LENTS RGT BLK REES & BAIRDS - LOT 023
Listing City: Minneapolis
Map Page: 106
Municipality: Minneapolis
School District: Minneapolis
School District Phone: 612-668-0000
Country: US
Property ID Number: 0202824240052
Tax Year: 2026
Tax Amount: 8532.26
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Solid brick fourplex on Chicago Avenue South, three units leased and a vacant fourth ready for the next owner to set the rate. Current rents run $1,175 to $1,200 per month with long-term tenants in place. The boiler was replaced seven years ago and the water heater for Unit 2 is new in 2023. Hardwood floors throughout, radiator heat, and individual water heaters per unit. A Metro Transit stop sits directly in front of the building, making this an easy leasing story for future tenants. Consistent occupancy in a neighborhood with steady rental demand.
Directions: 35W to 36th Ave S east to Chicago Ave, North to home on right 3215.

Accessible

None: Yes

Amenities Shared

Coin-op Laundry Owned: Yes
Patio: Yes

Basement

Partial: Yes

Construction Status

Previously Owned: Yes

Exterior

Stucco: Yes

Fencing

Chain Link: Yes

Foundation

Permanent: Yes

Fuel

Natural Gas: Yes

Heating

Hot Water: Yes

Lot Description

Public Transit (w/in 6 blks): Yes

Owner Pays

Common Area Maintenance: Yes
Exterior Maintenance: Yes
Grounds Care: Yes
Insurance: Yes
Lawn: Yes
Maintenance/Repair: Yes
Repairs: Yes
Sewer: Yes
Snow Removal: Yes
Taxes: Yes
Trash Collection: Yes
Water: Yes

Road Frontage

City Street: Yes

Road Responsibility

Public Maintained Road: Yes

Roof

Flat: Yes

Sewer

City Sewer/Connected: Yes

Shared Rooms

Other: Yes

Stories

Two: Yes

Water

City Water/Connected: Yes

No. of Ranges

One Per Unit: Yes

No. of Refrigerators

One Per Unit: Yes

Tenant Pays

Cable TV: Yes
Electricity: Yes
Fuel: Yes
Insurance: Yes

Unit 1 Appliances

Range: Yes
Refrigerator: Yes

Unit 1 Bath Description

Main Floor Full Bath: Yes

Unit 1 Cooling

Window: Yes

Unit 1 Dining Room Description

Eat In Kitchen: Yes

Unit 2 Appliances

Range: Yes
Refrigerator: Yes

Unit 2 Bath Description

Main Floor Full Bath: Yes

Unit 2 Cooling

Window: Yes

Unit 2 Dining Room Description

Eat In Kitchen: Yes

Unit 3 Appliances

Range: Yes
Refrigerator: Yes

Unit 3 Bath Description

Main Floor Full Bath: Yes

Unit 3 Cooling

Window: Yes

Unit 3 Dining Room Description

Eat In Kitchen: Yes

Unit 4 Appliances

Range: Yes
Refrigerator: Yes

Unit 4 Bath Description

Main Floor Full Bath: Yes

Unit 4 Cooling

Window: Yes

Unit 4 Dining Room Description

Eat In Kitchen: Yes

Listing Office: Jason Mitchell Group

Last Updated: July - 10 - 2026

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