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5053 Penn Avenue S, Minneapolis, MN 55419

New Listing

$650,000

Property Type: Multi-Family Bedrooms: 6 Baths: 2 Square Footage: 3,219 Lot Size (sq. ft.): 5,227 Status: Coming Soon

Current Price: $650,000 List Date: 7/07/2026 Last Modified: 7/09/2026

Overview

Description

This turnkey duplex sits three blocks from Lake Harriet and close to Minnehaha Creek, near fabulous restaurants like Broders and great neighborhood shopping. Each unit has 3 bedrooms, with the third tucked down a back hallway, meaning it’s private and out of sight, making it also ideal as a home office. Add separate washers and dryers, original woodwork and built-ins, and updates throughout. One unit rents for $2,380 with room to raise, and the owner's unit can go straight to market rate. Outside, enjoy a quiet brick patio plus a 2-car garage and two off-street spaces. Live in one unit and let the other help cover the mortgage, or add it to your investment portfolio in one of Minneapolis's best lake neighborhoods.

Listing Details MLS# 7100786

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: Yes
Waterfront YN: No
Year Built: 1923
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Main Floor Total SqFt: 1073
Above Ground SqFt: 2146
Below Grd Total SqFt: 1073
Total SqFt: 3219
Foundation Size: 1073
Style: (MF) Duplex Up and Down
Total Finished Sqft: 2146.00
Garage Stalls: 2
Lot Dimensions: 40x128
Acres: 0.12
Assessment Pending: Unknown

Property Features

Accessible: None Assumable Loan: Not Assumable Basement: Concrete Block Construction Materials: Frame Construction Status: Previously Owned Electric: Circuit Breakers Exterior: Stucco Foundation: Concrete Block Fuel: Natural Gas Heating: Boiler Internet Options: Fiber Optic Laundry: In Basement Lock Box Type: Combo Owner Pays: Sewer; Trash Collection; Water Road Frontage: City Street Road Responsibility: Public Maintained Road Roof: Age 8 Years or Less Sellers Terms: Cash; Conventional; FHA; VA Sewer: City Sewer/Connected Stories: Two Tenant Pays: Electricity; Gas Unit 1 Amenities: Countertops-Solid Surface; Ceiling Fan(s); Main Floor Primary Bedroom; Porch Unit 1 Appliances: Dishwasher; Range; Refrigerator Unit 1 Bath Description: Main Floor Full Bath Unit 1 Cooling: Window Unit 1 Dining Room Description: Separate/Formal Dining Rm Unit 1 Special Search: Main Floor Bedroom; 3 BR on One Level Unit 2 Amenities: Hardwood Floors; Natural Woodwork; Porch Unit 2 Appliances: Dishwasher; Range; Refrigerator Unit 2 Bath Description: Upper Level Full Bath Unit 2 Cooling: Window Unit 2 Dining Room Description: Separate/Formal Dining Rm Unit 2 Special Search: 3 BR on One Level Water: City Water/Connected

Contract Information

Contingency: None
Original List Price: 650000
ListPrice: 650000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 5053
Street Name: Penn
Street Suffix: Avenue
Street Direction Suffix: S
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55419
Complex/Dev/Subdivision: Thornton Park 2nd Div

Assessments

Tax With Assessments: 9467
Assessment Balance: 0

Building Information

Finished SqFt Above Ground: 2146

More Information

Income and Expenses

Annual Gross Income: 58560
Annual Insurance Expense: 3300
Annual Net Income: 58560
Annual Trash Expense: 400
Annual Water/Sewer Expense: 1400
Total Annual Expenses: 5100
Annual Caretaker Expense: 0
Annual Electric Expense: 0
Annual Fuel Expense: 0
Annual Gross Expenses: 0
Annual Maintenance Expense: 0
Annual Repair Expense: 0
Misc Monthly Income: 0
Misc. Annual Income: 0

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: Yes

Ownership

Fractional Ownership: No

Parking Characteristics

Garage Square Feet: 435

Public Survey Info

Range#: 24
Section#: 16
Township#: 28

Unit 1

Furnished?: No
Leased?: No
Level: Main Level
Unit Number: Yes
Annual Rent: 30000
Finished SqFt: 1073
Full Baths: Yes
Monthly Rent: 2500
No. of Units Like This: Yes
Total Baths: Yes
Total Bedrooms: 3
Total Rooms: 6

Unit 2

Furnished?: No
Lease Expiration Date: 2027-05-03
Leased?: Yes
Level: 2nd Level
Unit Number: 2
Annual Rent: 28560
Finished SqFt: 1073
Full Baths: Yes
Monthly Rent: 2380
No. of Units Like This: Yes
Total Baths: Yes
Total Bedrooms: 3
Total Rooms: 6

Unit Details

Total Units: 2

Office/Member Info

Association: MAAR

Location, Tax and Other Information

Legal Description: LOT 017 BLOCK 001 THORNTON PARK 2ND DIV
Listing City: Minneapolis
Map Page: 120
Municipality: Minneapolis
School District: Minneapolis
School District Phone: 612-668-0000
Zip Plus 4: 1034
Property ID Number: 1602824320017
Tax Year: 2026
Tax Amount: 9467
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: This turnkey duplex sits three blocks from Lake Harriet and close to Minnehaha Creek, near fabulous restaurants like Broders and great neighborhood shopping. Each unit has 3 bedrooms, with the third tucked down a back hallway, meaning it’s private and out of sight, making it also ideal as a home office. Add separate washers and dryers, original woodwork and built-ins, and updates throughout. One unit rents for $2,380 with room to raise, and the owner's unit can go straight to market rate. Outside, enjoy a quiet brick patio plus a 2-car garage and two off-street spaces. Live in one unit and let the other help cover the mortgage, or add it to your investment portfolio in one of Minneapolis's best lake neighborhoods.
Directions: 50th to Penn S to Duplex

Accessible

None: Yes

Assumable Loan

Not Assumable: Yes

Basement

Concrete Block: Yes

Construction Materials

Frame: Yes

Construction Status

Previously Owned: Yes

Electric

Circuit Breakers: Yes

Exterior

Stucco: Yes

Foundation

Concrete Block: Yes

Fuel

Natural Gas: Yes

Heating

Boiler: Yes

Internet Options

Fiber Optic: Yes

Laundry

In Basement: Yes

Lock Box Type

Combo: Yes

Owner Pays

Sewer: Yes
Trash Collection: Yes
Water: Yes

Patio, Porch and Deck Features

Patio: Yes
Rear Porch: Yes

Road Frontage

City Street: Yes

Road Responsibility

Public Maintained Road: Yes

Roof

Age 8 Years or Less: Yes

Sellers Terms

Cash: Yes
Conventional: Yes
FHA: Yes
VA: Yes

Sewer

City Sewer/Connected: Yes

Stories

Two: Yes

Water

City Water/Connected: Yes

No. of Ranges

Two: Yes

No. of Refrigerators

Two: Yes

Tenant Pays

Electricity: Yes
Gas: Yes

Unit 1 Amenities

Countertops-Solid Surface: Yes
Ceiling Fan(s): Yes
Main Floor Primary Bedroom: Yes
Porch: Yes

Unit 1 Appliances

Dishwasher: Yes
Range: Yes
Refrigerator: Yes

Unit 1 Bath Description

Main Floor Full Bath: Yes

Unit 1 Cooling

Window: Yes

Unit 1 Dining Room Description

Separate/Formal Dining Rm: Yes

Unit 1 Special Search

Main Floor Bedroom: Yes
3 BR on One Level: Yes

Unit 2 Amenities

Hardwood Floors: Yes
Natural Woodwork: Yes
Porch: Yes

Unit 2 Appliances

Dishwasher: Yes
Range: Yes
Refrigerator: Yes

Unit 2 Bath Description

Upper Level Full Bath: Yes

Unit 2 Cooling

Window: Yes

Unit 2 Dining Room Description

Separate/Formal Dining Rm: Yes

Unit 2 Special Search

3 BR on One Level: Yes

Listing Office: Keller Williams Realty Integrity

Last Updated: July - 09 - 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.