3500 1st Avenue S, Minneapolis, MN 55408
$744,900
Property Type:
Multi-Family
Bedrooms:
12
Baths:
4
Square Footage:
7,020
Lot Size (sq. ft.):
6,098
Status:
Active
Current Price:
$744,900
List Date:
6/01/2026
Last Modified:
6/30/2026
Listing Details MLS# 7075302
General Property Information
- Lot Measurement
- Acres
- Multiple PIDs?
- No
- Owner Occupied
- No
- Waterfront YN
- No
- Year Built
- 1914
- Yearly/Seasonal
- Yearly
- Zoning
- Residential-Multi-Family
- Main Floor Total SqFt
- 2340
- Above Ground SqFt
- 4680
- Below Grd Total SqFt
- 2340
- Total SqFt
- 7020
- Foundation Size
- 2340
- Style
- (MF) Four Plex
- Total Finished Sqft
- 4680.00
- Garage Stalls
- 3
- Lot Dimensions
- 47 x 126
- Acres
- 0.14
- Assessment Pending
- No
Property Features
Accessible:
None
Amenities Shared:
Patio
Basement:
Full
Construction Status:
Previously Owned
Electric:
Circuit Breakers
Exterior:
Stucco
Fencing:
Privacy; Wood
Foundation:
Stone
Fuel:
Natural Gas
Heating:
Boiler
Lot Description:
Public Transit (w/in 6 blks)
Owner Pays:
Insurance; Lawn; Maintenance/Repair; Snow Removal; Taxes; Trash Collection
Pool Description:
None
Road Frontage:
City Street; Curbs; Paved Streets; Sidewalks
Roof:
Flat
Sewer:
City Sewer/Connected
Stories:
Two
Tenant Pays:
Cable TV; Electricity; Fuel
Unit 1 Amenities:
Historic/Period Millwork; Hardwood Floors; Natural Woodwork
Unit 1 Appliances:
Cooktop; Range; Refrigerator
Unit 1 Bath Description:
Upper Level Full Bath
Unit 1 Special Search:
Main Floor Bedroom; 3 BR on One Level
Water:
City Water - In Street
Contract Information
- Contingency
- None
- Original List Price
- 774900
- ListPrice
- 744900
- Owner is an Agent?
- No
- Auction?
- No
Location Tax and Other Information
- House Number
- 3500
- Street Name
- 1st
- Street Suffix
- Avenue
- Street Direction Suffix
- S
- Postal City
- Minneapolis
- County
- Hennepin
- State
- MN
- Zip Code
- 55408
- Complex/Dev/Subdivision
- Shartles Add
Assessments
- Tax With Assessments
- 11718
- Assessment Balance
- 0
Building Information
- Finished SqFt Above Ground
- 4680
More Information
Income and Expenses
- Annual Caretaker Expense
- 1500
- Annual Electric Expense
- 1000
- Annual Fuel Expense
- 1200
- Annual Gross Expenses
- 10200
- Annual Gross Income
- 78540
- Annual Insurance Expense
- 2000
- Annual Maintenance Expense
- 2000
- Annual Net Income
- 33864
- Annual Repair Expense
- 1000
- Annual Water/Sewer Expense
- 1500
- Total Annual Expenses
- 10200
- Annual Trash Expense
- 0
Lease Details
- Land Leased
- Not Applicable
Miscellaneous Information
- DP Resource
- Yes
- Homestead
- No
Ownership
- Fractional Ownership
- No
Parking Characteristics
- Garage Square Feet
- 740
Public Survey Info
- Range#
- 24
- Section#
- 03
- Township#
- 28
Unit 1
- Furnished?
- No
- Lease Expiration Date
- 2026-08-31
- Leased?
- Yes
- Level
- 2nd Level
- Unit Number
- Yes
- Annual Rent
- 19500
- Finished SqFt
- 1100
- Full Baths
- Yes
- Monthly Expense
- 130
- Monthly Rent
- 1625
- No. of Units Like This
- 2
- Total Baths
- Yes
- Total Bedrooms
- 3
- Total Rooms
- 6
Unit 2
- Furnished?
- No
- Lease Expiration Date
- 2028-06-30
- Leased?
- Yes
- Unit Number
- 2
- Annual Rent
- 18600
- Finished SqFt
- 1100
- Full Baths
- Yes
- Monthly Expense
- 130
- Monthly Rent
- 1550
- No. of Units Like This
- Yes
- Total Baths
- Yes
- Total Bedrooms
- 3
- Total Rooms
- 6
Unit 3
- Furnished?
- No
- Lease Expiration Date
- 2027-05-31
- Leased?
- Yes
- Unit Number
- 3
- Annual Rent
- 18240
- Finished SqFt
- 1100
- Full Baths
- Yes
- Monthly Expense
- 130
- Monthly Rent
- 1520
- No. of Units Like This
- Yes
- Total Baths
- Yes
- Total Bedrooms
- 3
- Total Rooms
- 6
Unit Details
- Total Units
- 4
Office/Member Info
- Association
- MAAR
Location, Tax and Other Information
- Legal Description
- LOT 001 BLOCK 001 SHARTLES ADDN TO MPLS
- Listing City
- Minneapolis
- Map Page
- 120
- Municipality
- Minneapolis
- School District
- Minneapolis
- School District Phone
- 612-668-0000
- Zip Plus 4
- 9763
- Property ID Number
- 0302824420124
- Tax Year
- 2026
- Tax Amount
- 11718
- In Foreclosure?
- No
- Potential Short Sale?
- No
- Lender Owned?
- No
Directions & Remarks
- Public Remarks
- Excellent opportunity to acquire a South Minneapolis multifamily portfolio with strong long-term upside potential in desirable urban neighborhoods. Properties offer a mix of stable cash flow, value-add opportunities, and proximity to transit, parks, restaurants, and major employment centers. Ideal for investors seeking scale, operational efficiency, and long-term appreciation within the Minneapolis urban core. Public Remarks: Exceptional investment opportunity in the heart of South Minneapolis! This well-maintained 4-plex at 3500 1st Ave S, Minneapolis, MN 55408 features four large 3-bedroom, 1-bath units with updated kitchens, stainless steel appliances, and separately metered utilities for streamlined management and tenant convenience. The property generates strong rental income with average rents of approximately $1,600 per month per unit, plus additional garage income from the detached 3-car garage at $75 per stall monthly. Spacious layouts, functional floorplans, and consistent rental demand make this an attractive long-term hold with excellent cash-flow potential. Ideally located near transit, restaurants, parks, shopping, and major Minneapolis amenities, this property offers both convenience and strong tenant appeal in a highly sought-after urban location. Additional upside potential through the City of Minneapolis 4D Affordable Housing Incentive Program, which allows a new owner to reduce property taxes by up to 40% annually by enrolling qualifying units. Perfect opportunity for investors seeking stable income and long-term appreciation or an owner-occupant looking to offset housing costs with substantial rental revenue.
- Directions
- From 35W, exit 35/36 Streets, go W on 35th, SW corner of 35th and 1st
Accessible
- None
- Yes
Amenities Shared
- Patio
- Yes
Basement
- Full
- Yes
Construction Status
- Previously Owned
- Yes
Electric
- Circuit Breakers
- Yes
Exterior
- Stucco
- Yes
Fencing
- Privacy
- Yes
- Wood
- Yes
Foundation
- Stone
- Yes
Fuel
- Natural Gas
- Yes
Heating
- Boiler
- Yes
Lot Description
- Public Transit (w/in 6 blks)
- Yes
Owner Pays
- Insurance
- Yes
- Lawn
- Yes
- Maintenance/Repair
- Yes
- Snow Removal
- Yes
- Taxes
- Yes
- Trash Collection
- Yes
Pool Description
- None
- Yes
Road Frontage
- City Street
- Yes
- Curbs
- Yes
- Paved Streets
- Yes
- Sidewalks
- Yes
Roof
- Flat
- Yes
Sewer
- City Sewer/Connected
- Yes
Stories
- Two
- Yes
Water
- City Water - In Street
- Yes
No. of Ranges
- Four
- Yes
No. of Refrigerators
- Four
- Yes
Tenant Pays
- Cable TV
- Yes
- Electricity
- Yes
- Fuel
- Yes
Unit 1 Amenities
- Historic/Period Millwork
- Yes
- Hardwood Floors
- Yes
- Natural Woodwork
- Yes
Unit 1 Appliances
- Cooktop
- Yes
- Range
- Yes
- Refrigerator
- Yes
Unit 1 Bath Description
- Upper Level Full Bath
- Yes
Unit 1 Special Search
- Main Floor Bedroom
- Yes
- 3 BR on One Level
- Yes
Listing Office:
Summit Realty LLC
Last Updated: June - 30 - 2026
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