3520 12th Avenue S, Minneapolis, MN 55407

New Listing
$2,425,000
Property Type: Commercial Lot Size (sq. ft.): 18,731 Status: Active
Current Price: $2,425,000 List Date: 6/08/2026 Last Modified: 6/08/2026

Overview

Description

21-unit multifamily in Minneapolis's Powderhorn Park neighborhood offered at $2,425,000 ($115,476/door). This 1BR, 2BR, and studio building features on-site parking and shared laundry with current rents running below market, presenting immediate upside for a new owner. The most recent capital upgrade was a brand new roof in 2026, with newer mechanicals, a clean exterior, and numerous energy efficiency appliance upgrades through the Minneapolis 4D program which also keeps taxes low. Many units have already been remodeled with additional turns remaining, creating a clear and executable value-add path. Potential NOI of $193,648 with meaningful rent upside still on the table. Ideal for an operator or passive investor looking to deploy into a proven south Minneapolis value-add multifamily. Available individually or as part of a 7-property, 89-unit South Minneapolis portfolio offered at $9,750,000. Refer to OM for more details.

Listing Details MLS# 7088951

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Other Parking Spaces
15
Owner Occupied
No
Waterfront Present
No
Year Built
1968
Yearly/Seasonal
Yearly
Zoning
Residential-Multi-Family
Foundation Size
4566
For Sale or Lease
For Sale
Acres
0.43
Lot Dimensions
152.90 X 122.00
Assessment Pending
Yes
Garage Stalls
0

Property Features

Accessible: None Assumable Loan: Not Assumable CMU Style: Apartments/Multi Family; Low Rise Construction Status: Previously Owned Current Use: Residential Exterior: Brick/Stone; Vinyl Foundation: Concrete Block Fuel: Electric; Natural Gas Heating: Boiler Loan Terms: Cash; Conventional On Site Utilities: Electric Common; Electric Separate; Heating Common; Hot Water Common Parking Characteristics: Parking Lot; Paved Lot Rental License Type: Standard Sewer: City Sewer/Connected Stories: Two Water: City Water/Connected

Contract Information

Contingency
None
ListPrice
2425000
Owner is an Agent?
Yes
Auction?
No

Location Tax and Other Information

House Number
3520
Street Name
12th
Street Suffix
Avenue
Street Direction Suffix
S
Postal City
Minneapolis
County
Hennepin
State
MN
Zip Code
55407
Complex/Dev/Subdivision
Maben & Whites Add

Assessments

Assessment Balance
847.07
Tax With Assessments
17072.6

Building Information

Building Finished SqFt
13700
Building SqFt
13700

More Information

Income and Expenses

Annual Gross Expenses
94387
Annual Gross Income
295800
Annual Net Income
193648

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Public Survey Info

Range#
24
Section#
02
Township#
28

Sale Options

Sale Includes
Building, Fixture/Equipment, Land, Rental License

Unit 1

No. of 1 Bedroom Units
12

Unit 2

No. of 2 Bedroom Units
8

Unit Details

Total Units
21

Unit Information

No. of Efficiency Units
Yes

Office/Member Info

Association
SPAAR

Location, Tax and Other Information

Legal Description
BLOCK 001 MABEN & WHITES ADDN TO MPLS LOTS 1 TO 3 INCL AND THE N 12 FT OF LOT 4 BLK 1 MABEN AND WHITE ADDN ALSO LOT 6 BLK 1 MENAGES 2ND ADDN
Listing City
Minneapolis
Map Page
120
Municipality
Minneapolis
School District
Minneapolis
School District Phone
612-668-0000
Zip Plus 4
3316
Property ID Number
0202824310030
Tax Year
2026
Tax Amount
16225.53
In Foreclosure?
No
Potential Short Sale?
No
Lender Owned?
No

Directions & Remarks

Public Remarks
21-unit multifamily in Minneapolis's Powderhorn Park neighborhood offered at $2,425,000 ($115,476/door). This 1BR, 2BR, and studio building features on-site parking and shared laundry with current rents running below market, presenting immediate upside for a new owner. The most recent capital upgrade was a brand new roof in 2026, with newer mechanicals, a clean exterior, and numerous energy efficiency appliance upgrades through the Minneapolis 4D program which also keeps taxes low. Many units have already been remodeled with additional turns remaining, creating a clear and executable value-add path. Potential NOI of $193,648 with meaningful rent upside still on the table. Ideal for an operator or passive investor looking to deploy into a proven south Minneapolis value-add multifamily. Available individually or as part of a 7-property, 89-unit South Minneapolis portfolio offered at $9,750,000. Refer to OM for more details.
Directions
From I-35W, take the 35th Street exit and head east, then turn left on 12th Avenue South and proceed north to 3520 12th Ave S on your left.

Accessible

None
Yes

Assumable Loan

Not Assumable
Yes

Construction Status

Previously Owned
Yes

Exterior

Brick/Stone
Yes
Vinyl
Yes

Foundation

Concrete Block
Yes

Fuel

Electric
Yes
Natural Gas
Yes

Heating

Boiler
Yes

Parking Characteristics

Parking Lot
Yes
Paved Lot
Yes

Rental License Type

Standard
Yes

Sewer

City Sewer/Connected
Yes

Stories

Two
Yes

Water

City Water/Connected
Yes

On Site Utilities

Electric Common
Yes
Electric Separate
Yes
Heating Common
Yes
Hot Water Common
Yes

CMU Style

Apartments/Multi Family
Yes
Low Rise
Yes

Current Use

Residential
Yes

Loan Terms

Cash
Yes
Conventional
Yes

Documents

IDX
Listing Office: Commercial Investors Group LLC
Last Updated: June - 08 - 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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