3241 Cedar Avenue S, Minneapolis, MN 55407

$399,900
Property Type: Multi-Family Bedrooms: 5 Baths: 3 Square Footage: 3,690 Lot Size (sq. ft.): 6,098 Status: Pending
Current Price: $399,900 List Date: 6/03/2026 Last Modified: 7/15/2026

Overview

Description

Unique Triplex with 3 units fully occupied and eligible for FHA loan assumption for an owner-occupant! Enjoy the peaceful backyard that is fully enclosed with a wooden fence and features a patio. Perfect for dog owners. This building has plenty of space including a partially finished full basement, a 12x12 flex room in the backyard and a workshop attached to garage. Units have been nicely maintained and are rent ready! This is the perfect spot for an owner who would like to cut their living expenses by occupying 1 unit. $3725.00 gross monthly rents. Front unit adjacent to the street is licensed as an accessory dwelling unit.

Listing Details MLS# 7083267

General Property Information

Lot Measurement
Square Feet
Multiple PIDs?
No
Owner Occupied
No
Waterfront YN
No
Year Built
1898
Yearly/Seasonal
Yearly
Zoning
Residential-Multi-Family
Main Floor Total SqFt
2000
Above Ground SqFt
3000
Below Grd Total SqFt
690
Total SqFt
3690
Foundation Size
690
Lot Size SqFt
6098
Style
(MF) Triplex
Total Finished Sqft
3000.00
Garage Stalls
Yes
Lot Dimensions
50x125
Assessment Pending
No

Property Features

Accessible: None Amenities Shared: Deck Assumable Loan: Yes w/ Qualifying Basement: Concrete Block Construction Materials: Concrete Construction Status: Previously Owned Electric: Circuit Breakers Existing Financing: FHA Exterior: Stucco Fencing: Full; Wood Foundation: Concrete Block Fuel: Natural Gas Heating: Baseboard; Boiler Internet Options: Fiber Optic Laundry: In Basement Lock Box Type: Supra Lot Description: Tree Coverage - Light Owner Pays: Fuel; Maintenance/Repair; Sewer; Taxes; Trash Collection; Water Road Frontage: City Street Road Responsibility: Public Maintained Road Roof: Age Over 8 Years; Asphalt Shingles; Flat Sellers Terms: Cash; Conventional; FHA; VA Sewer: City Sewer/Connected Shared Rooms: Community Room; Other Stories: Two Tenant Pays: Electricity Unit 1 Appliances: Dishwasher; Range; Refrigerator Unit 1 Bath Description: Main Floor Full Bath Unit 1 Cooling: None Unit 1 Dining Room Description: Living/Dining Room Unit 2 Amenities: Hardwood Floors Unit 2 Appliances: Dishwasher; Range; Refrigerator Unit 2 Bath Description: Main Floor Full Bath Unit 2 Cooling: None Unit 2 Dining Room Description: Eat In Kitchen Unit 3 Amenities: Deck Unit 3 Appliances: Dishwasher; Range; Refrigerator Unit 3 Bath Description: Upper Level Full Bath Unit 3 Cooling: None Unit 3 Dining Room Description: Eat In Kitchen; Kitchen/Dining Room Water: City Water/Connected

Contract Information

Off Market Date
2026-07-15
Contingency
None
Original List Price
399900
ListPrice
399900
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
3241
Street Name
Cedar
Street Suffix
Avenue
Street Direction Suffix
S
Postal City
Minneapolis
County
Hennepin
State
MN
Zip Code
55407
Complex/Dev/Subdivision
Minnehaha Add

Assessments

Assessment Balance
1795
Tax With Assessments
8749

Basement

Foundation Dimensions
30x23
Concrete Block
Yes

More Information

Building Information

Finished SqFt Above Ground
3000

Lease Details

Land Leased
Not Applicable

Lock Box Type

Lock Box Source
SPAAR
Supra
Yes

Miscellaneous Information

DP Resource
Yes
Homestead
No

Ownership

Fractional Ownership
No

Parking Characteristics

Garage Dimensions
20x20
Garage Door Height
7
Garage Door Width
16
Garage Square Feet
400

Public Survey Info

Range#
24
Section#
01
Township#
28

Unit 1

Furnished?
No
Leased?
Yes
Level
Main Level
Unit Number
Yes
Annual Rent
12000
Finished SqFt
600
Full Baths
Yes
Monthly Rent
1000
No. of Units Like This
Yes
Oth Parking Spaces
Yes
Total Baths
Yes
Total Bedrooms
Yes
Total Rooms
3

Unit 2

Furnished?
No
Leased?
Yes
Level
Main Level
Unit Number
2
Annual Rent
16800
Finished SqFt
1400
Full Baths
Yes
Monthly Rent
1400
No. of Units Like This
Yes
Oth Parking Spaces
Yes
Total Baths
Yes
Total Bedrooms
2
Total Rooms
5

Unit 3

Furnished?
No
Leased?
Yes
Level
2nd Level
Unit Number
3
Annual Rent
16250
Finished SqFt
1000
Full Baths
Yes
Monthly Rent
1350
No. of Units Like This
Yes
Oth Parking Spaces
Yes
Total Baths
Yes
Total Bedrooms
2
Total Rooms
5

Unit Details

Total Units
3

Office/Member Info

Association
MAAR

Location, Tax and Other Information

Legal Description
LOT 008 BLOCK 021 MINNEHAHA ADDN TO MPLS
Listing City
Minneapolis
Map Page
120
Municipality
Minneapolis
School District
Minneapolis
School District Phone
612-668-0000
Zip Plus 4
5301
Property ID Number
0102824230067
Tax Year
2026
Tax Amount
6815
In Foreclosure?
No
Potential Short Sale?
No
Lender Owned?
No

Directions & Remarks

Public Remarks
Unique Triplex with 3 units fully occupied and eligible for FHA loan assumption for an owner-occupant! Enjoy the peaceful backyard that is fully enclosed with a wooden fence and features a patio. Perfect for dog owners. This building has plenty of space including a partially finished full basement, a 12x12 flex room in the backyard and a workshop attached to garage. Units have been nicely maintained and are rent ready! This is the perfect spot for an owner who would like to cut their living expenses by occupying 1 unit. $3725.00 gross monthly rents. Front unit adjacent to the street is licensed as an accessory dwelling unit.
Directions
From Hwy 55, go south on Cedar ave. property is on the left hand side between 31st st and 32nd st

Accessible

None
Yes

Amenities Shared

Deck
Yes

Assumable Loan

Yes w/ Qualifying
Yes

Construction Materials

Concrete
Yes

Construction Status

Previously Owned
Yes

Electric

Circuit Breakers
Yes

Existing Financing

FHA
Yes

Exterior

Stucco
Yes

Fencing

Full
Yes
Wood
Yes

Foundation

Concrete Block
Yes

Fuel

Natural Gas
Yes

Heating

Baseboard
Yes
Boiler
Yes

Internet Options

Fiber Optic
Yes

Laundry

In Basement
Yes

Lot Description

Tree Coverage - Light
Yes

Owner Pays

Fuel
Yes
Maintenance/Repair
Yes
Sewer
Yes
Taxes
Yes
Trash Collection
Yes
Water
Yes

Patio, Porch and Deck Features

Deck
Yes

Road Frontage

City Street
Yes

Road Responsibility

Public Maintained Road
Yes

Roof

Age Over 8 Years
Yes
Asphalt Shingles
Yes
Flat
Yes

Sellers Terms

Cash
Yes
Conventional
Yes
FHA
Yes
VA
Yes

Sewer

City Sewer/Connected
Yes

Shared Rooms

Community Room
Yes
Other
Yes

Stories

Two
Yes

Water

City Water/Connected
Yes

Income and Expenses

Annual Caretaker Expense
0
Annual Electric Expense
0
Annual Fuel Expense
0
Annual Gross Expenses
0
Annual Gross Income
0
Annual Insurance Expense
0
Annual Maintenance Expense
0
Annual Repair Expense
0
Annual Trash Expense
0
Annual Water/Sewer Expense
0
Total Annual Expenses
0

No. of Ranges

Three
Yes

No. of Refrigerators

Three
Yes

Tenant Pays

Electricity
Yes

Unit 1 Appliances

Dishwasher
Yes
Range
Yes
Refrigerator
Yes

Unit 1 Bath Description

Main Floor Full Bath
Yes

Unit 1 Cooling

None
Yes

Unit 1 Dining Room Description

Living/Dining Room
Yes

Unit 2 Amenities

Hardwood Floors
Yes

Unit 2 Appliances

Dishwasher
Yes
Range
Yes
Refrigerator
Yes

Unit 2 Bath Description

Main Floor Full Bath
Yes

Unit 2 Cooling

None
Yes

Unit 2 Dining Room Description

Eat In Kitchen
Yes

Unit 3 Amenities

Deck
Yes

Unit 3 Appliances

Dishwasher
Yes
Range
Yes
Refrigerator
Yes

Unit 3 Bath Description

Upper Level Full Bath
Yes

Unit 3 Cooling

None
Yes

Unit 3 Dining Room Description

Eat In Kitchen
Yes
Kitchen/Dining Room
Yes
IDX
Listing Office: RE/MAX Results
Last Updated: July - 15 - 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.
Search powered by FBS Products