3521 12th Avenue S, Minneapolis, MN 55407

New Listing
$1,175,000
Property Type: Commercial Lot Size (sq. ft.): 9,148 Status: Active
Current Price: $1,175,000 List Date: 6/08/2026 Last Modified: 6/08/2026

Overview

Description

11-unit all 1BR/1BA multifamily in Minneapolis's Powderhorn Park neighborhood offered at $1,175,000 ($106,818/door). Less than a block from Powderhorn Park's 66 acres of green space, lake, athletic fields, and recreation center, the property sits in one of the strongest rental locations in the submarket. Recent capital upgrades include a newer water heater and mechanicals, new sewer piping, and new LVP flooring in the lower level. Many units have been renovated with additional upside remaining on long term tenant turns. The property carries a very low tax base as part of the Minneapolis 4D program. Potential NOI of $94,017 with stable in-place cash flow and a straightforward value-add path on turns at a basis that still pencils in today's market. Available individually or as part of a 7-property, 89-unit South Minneapolis portfolio offered at $9,750,000. Refer to OM for more information.

Listing Details MLS# 7088960

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Other Parking Spaces
6
Owner Occupied
No
Waterfront Present
No
Year Built
1963
Yearly/Seasonal
Yearly
Zoning
Residential-Multi-Family
Foundation Size
3190
For Sale or Lease
For Sale
Acres
0.21
Lot Dimensions
75 X 123
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 Rental License Type: Standard Sewer: City Sewer/Connected Stories: Two Water: City Water/Connected

Contract Information

Contingency
None
ListPrice
1175000
Owner is an Agent?
Yes
Auction?
No

Location Tax and Other Information

House Number
3521
Street Name
12th
Street Suffix
Avenue
Street Direction Suffix
S
Postal City
Minneapolis
County
Hennepin
State
MN
Zip Code
55407
Complex/Dev/Subdivision
Bloomington Ave Add

Assessments

Assessment Balance
417.92
Tax With Assessments
5889.38

Building Information

Building Finished SqFt
9570
Building SqFt
9570

More Information

Income and Expenses

Annual Gross Expenses
46127
Annual Gross Income
145200
Annual Net Income
94017

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
11

Unit Details

Total Units
11

Office/Member Info

Association
SPAAR

Location, Tax and Other Information

Legal Description
BLOCK 012 BLOOMINGTON AVE ADDN TO MPLS LOTS 13 TO 15 INCL
Listing City
Minneapolis
Map Page
120
Municipality
Minneapolis
School District
Minneapolis
School District Phone
612-668-0000
Zip Plus 4
3316
Property ID Number
0202824420076
Tax Year
2026
Tax Amount
5471.46
In Foreclosure?
No
Potential Short Sale?
No
Lender Owned?
No

Directions & Remarks

Public Remarks
11-unit all 1BR/1BA multifamily in Minneapolis's Powderhorn Park neighborhood offered at $1,175,000 ($106,818/door). Less than a block from Powderhorn Park's 66 acres of green space, lake, athletic fields, and recreation center, the property sits in one of the strongest rental locations in the submarket. Recent capital upgrades include a newer water heater and mechanicals, new sewer piping, and new LVP flooring in the lower level. Many units have been renovated with additional upside remaining on long term tenant turns. The property carries a very low tax base as part of the Minneapolis 4D program. Potential NOI of $94,017 with stable in-place cash flow and a straightforward value-add path on turns at a basis that still pencils in today's market. Available individually or as part of a 7-property, 89-unit South Minneapolis portfolio offered at $9,750,000. Refer to OM for more information.
Directions
From I-35W, take the 35th Street exit and head east, then turn left on 12th Avenue South and proceed north to 3521 12th Ave S on your right.

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

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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