Minneapolis, MN 55408

New Listing
$1
Property Type: Commercial Square Footage: 43,332 Lot Size (sq. ft.): 21,344 Status: Active
Current Price: $1 List Date: 7/10/2026 Last Modified: 7/10/2026

Overview

Description

* Sale Price: Negotiable * Rare 60 Unit (3 Building) Brownstone Multifamily Portfolio * Located on a 0.49-acre site totaling approximately 21,344 sf * Corner of Lagoon & Humboldt, across from Lunds & Byerly's, near The Lakes, and next to the Midtown Greenway Trail * Longtime family-owned asset * 95% Occupancy - Desirable unit mix: (18) studios, (41) 1 bedrooms, (1) 2 bedroom. * 3 Parcels: 2870 (33-029-24-34-0014), 2882 (33-029-24-34-0016), land parcel between the buildings (33-029-24-34-0015) * Stabilized property with true value-add upside through rent growth, unit/common area improvements and management/operational efficiencies * Perfect 1031 Tax exchange and Investment * Opportunity to acquire three adjacent multifamily buildings in a single transaction (management efficiency) * Desirable Uptown/Lagoon Ave location with excellent access to nearby restaurant, retail, entertainment, parks & transit * Flexible zoning with 2870 Humboldt Avenue South zoned UN3 and 2876/2882 Humboldt Ave ...

Listing Details MLS# 7107359

General Property Information

Lot Measurement
Acres
Multiple PIDs?
Yes
Waterfront YN
No
Year Built
1915
Yearly/Seasonal
Yearly
Zoning
Residential-Multi-Family
Foundation Size
3611
For Sale or Lease
For Sale
Acres
0.49
Lot Dimensions
128X168
Assessment Pending
No
Other Parking Spaces
0
Garage Stalls
0

Property Features

Accessible: None CMU Style: Apartments/Multi Family; Freestanding Construction Status: Previously Owned Current Use: Residential Exterior: Brick/Stone Foundation: Concrete Perimeter Fuel: Natural Gas Heating: Boiler On Site Utilities: Electric Common; Heating Common; Hot Water Common Parking Characteristics: Parking Lot Sewer: City Sewer/Connected Water: City Water/Connected

Contract Information

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

Location Tax and Other Information

Postal City
Minneapolis
County
Hennepin
State
MN
Zip Code
55408
Complex/Dev/Subdivision
Deans Add

Additional Parcels Information

Property ID #2
3302924340015
Property ID #3
3302924340016

Assessments

Tax With Assessments
130803
Assessment Balance
0

More Information

Basement

Foundation Dimensions
168x128

Building Information

Building Finished SqFt
43332
Building SqFt
43332

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Public Survey Info

Range#
24
Section#
33
Township#
29

Sale Options

Sale Includes
Building, Leases

Unit 1

No. of 1 Bedroom Units
41

Unit 2

No. of 2 Bedroom Units
Yes

Unit Details

Total Units
60

Unit Information

No. of Efficiency Units
18

Office/Member Info

Association
MAAR

Location, Tax and Other Information

Legal Description
LOT 004 BLOCK 003 DEANS ADDN TO MPLS, LOT 005 BLOCK 003 DEANS ADDN TO MPLS N 12 FT, BLOCK 003 DEANS ADDN TO MPLS LOTS 6 7 AND S 30 FT OF LOT 5
Listing City
Minneapolis
Map Page
106
Municipality
Minneapolis
School District
Minneapolis
School District Phone
612-668-0000
Property ID Number
3302924340014
Tax Year
2026
Tax Amount
130803
In Foreclosure?
No
Potential Short Sale?
No
Lender Owned?
No

Directions & Remarks

Public Remarks
* Sale Price: Negotiable * Rare 60 Unit (3 Building) Brownstone Multifamily Portfolio * Located on a 0.49-acre site totaling approximately 21,344 sf * Corner of Lagoon & Humboldt, across from Lunds & Byerly's, near The Lakes, and next to the Midtown Greenway Trail * Longtime family-owned asset * 95% Occupancy - Desirable unit mix: (18) studios, (41) 1 bedrooms, (1) 2 bedroom. * 3 Parcels: 2870 (33-029-24-34-0014), 2882 (33-029-24-34-0016), land parcel between the buildings (33-029-24-34-0015) * Stabilized property with true value-add upside through rent growth, unit/common area improvements and management/operational efficiencies * Perfect 1031 Tax exchange and Investment * Opportunity to acquire three adjacent multifamily buildings in a single transaction (management efficiency) * Desirable Uptown/Lagoon Ave location with excellent access to nearby restaurant, retail, entertainment, parks & transit * Flexible zoning with 2870 Humboldt Avenue South zoned UN3 and 2876/2882 Humboldt Avenue South zoned RM1, allowing for continued multifamily use in an urban residential setting.
Directions
Located on the corner of Humboldt Ave St & Lagoon Ave in Minneapolis, MN.

Accessible

None
Yes

Construction Status

Previously Owned
Yes

Exterior

Brick/Stone
Yes

Foundation

Concrete Perimeter
Yes

Fuel

Natural Gas
Yes

Heating

Boiler
Yes

Parking Characteristics

Parking Lot
Yes

Sewer

City Sewer/Connected
Yes

Water

City Water/Connected
Yes

On Site Utilities

Electric Common
Yes
Heating Common
Yes
Hot Water Common
Yes

CMU Style

Apartments/Multi Family
Yes
Freestanding
Yes

Current Use

Residential
Yes
IDX
Listing Office: RE/MAX Results
Last Updated: July - 10 - 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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