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5424 32nd Avenue S, Minneapolis, MN 55417

New Listing

$900,000

Property Type: Multi-Family Bedrooms: 9 Baths: 6 Square Footage: 5,400 Lot Size (sq. ft.): 6,534 Status: Active

Current Price: $900,000 List Date: 7/09/2026 Last Modified: 7/09/2026

Overview

Description

Exceptional investment opportunity! This hard-to-find triplex, built in 2022, is located in the heart of South Minneapolis and offers immediate cash flow with all three units currently rented. Each unit features 3 bedrooms, 2 full bathrooms, an open and functional floor plan, and a stylish kitchen complete with granite countertops and stainless steel appliances. Built with modern finishes and low-maintenance construction, this property is an excellent addition to any investment portfolio. Conveniently located near shopping, dining, parks, public transportation, and major highways, this turnkey income-producing property offers the perfect combination of quality, location, and long-term rental potential. Each unit has its own PID number for a chance to sell each unit individually. A rare opportunity you won't want to miss!

Listing Details MLS# 7103604

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Waterfront YN: No
Year Built: 2022
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Main Floor Total SqFt: 1800
Above Ground SqFt: 3600
Below Grd Total SqFt: 1800
Total SqFt: 5400
Foundation Size: 1800
Style: (MF) Triplex
Total Finished Sqft: 5400.00
Garage Stalls: 2
Lot Dimensions: 149x42
Acres: 0.15
Assessment Pending: No

Property Features

Accessible: None Basement: Egress Windows; Full Construction Status: Completed New Construction Exterior: Vinyl Foundation: Concrete Block Fuel: Natural Gas Heating: Forced Air Owner Pays: Insurance; Taxes; Water Road Frontage: City Street Road Responsibility: Public Maintained Road Sellers Terms: Cash; Conventional Sewer: City Sewer/Connected Stories: Two Tenant Pays: All Utilities Water: City Water/Connected

Contract Information

Contingency: None
Original List Price: 900000
ListPrice: 900000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 5424
Street Name: 32nd
Street Suffix: Avenue
Street Direction Suffix: S
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55417
Complex/Dev/Subdivision: C F E Peterson Co Nokomis Park

Assessments

Tax With Assessments: 13914
Assessment Balance: 0

Building Information

Finished SqFt Above Ground: 3600
Finished SqFt Below Ground: 1800

More Information

Income and Expenses

Annual Gross Expenses: 21500
Annual Gross Income: 90000
Annual Insurance Expense: 5000
Annual Net Income: 68500
Annual Water/Sewer Expense: 2500
Total Annual Expenses: 21500
Annual Caretaker Expense: 0
Annual Electric Expense: 0
Annual Fuel Expense: 0
Annual Maintenance Expense: 0
Annual Repair Expense: 0
Annual Trash Expense: 0

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Parking Characteristics

Garage Square Feet: 470

Public Survey Info

Range#: 23
Section#: 19
Township#: 28

Unit 1

Furnished?: No
Lease Expiration Date: 2028-03-31
Leased?: Yes
Unit Number: Yes
3/4 Baths: Yes
Annual Rent: 30000
Finished SqFt: 1800
Full Baths: Yes
Monthly Rent: 2500
No. of Units Like This: 3
Total Baths: 2
Total Bedrooms: 3
Total Rooms: 6

Unit Details

Total Units: 3

Office/Member Info

Association: MAAR

Location, Tax and Other Information

Legal Description: LOT 007 BLOCK 003 C F E PETERSON CO NOKOMIS PARK
Listing City: Minneapolis
Map Page: 121
Municipality: Minneapolis
School District: Minneapolis
School District Phone: 612-668-0000
Zip Plus 4: 2663
Property ID Number: 1902823220051
Tax Year: 2026
Tax Amount: 13914
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Exceptional investment opportunity! This hard-to-find triplex, built in 2022, is located in the heart of South Minneapolis and offers immediate cash flow with all three units currently rented. Each unit features 3 bedrooms, 2 full bathrooms, an open and functional floor plan, and a stylish kitchen complete with granite countertops and stainless steel appliances. Built with modern finishes and low-maintenance construction, this property is an excellent addition to any investment portfolio. Conveniently located near shopping, dining, parks, public transportation, and major highways, this turnkey income-producing property offers the perfect combination of quality, location, and long-term rental potential. Each unit has its own PID number for a chance to sell each unit individually. A rare opportunity you won't want to miss!
Directions: Hwy 62 to North on 34th Ave, West on E 54th Street, then left on 32nd Ave.

Accessible

None: Yes

Basement

Egress Windows: Yes
Full: Yes

Construction Status

Completed New Construction: Yes

Exterior

Vinyl: Yes

Foundation

Concrete Block: Yes

Fuel

Natural Gas: Yes

Heating

Forced Air: Yes

Owner Pays

Insurance: Yes
Taxes: Yes
Water: Yes

Road Frontage

City Street: Yes

Road Responsibility

Public Maintained Road: Yes

Sellers Terms

Cash: Yes
Conventional: Yes

Sewer

City Sewer/Connected: Yes

Stories

Two: Yes

Water

City Water/Connected: Yes

No. of Ranges

Three: Yes

No. of Refrigerators

Three: Yes

Tenant Pays

All Utilities: Yes

Listing Office: Real Estate Corners, Inc

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.