Minneapolis, MN 55405 2308 Garfield Avenue

Pending
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Presented By: Marcus & Millichap
  • MLS# 6804564
  • 10/14/2025
  • Request Tour
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  • SQFT • 8,700

Home Details

We are pleased to present for sale Garfield Avenue Apartments, a 12-unit apartment community located in the Whittier neighborhood of Minneapolis 2308 Garfield Ave S is available for purchase for the first time in over 20 years. We are pleased to present a unique opportunity to purchase a beloved asset in a core urban area. Consisting of 10 one-bedrooms and 2 studios, this property is exceptionally well cared for. Built in 1967, and situated on a .22 acre lot, 2308 Garfield enjoys a great location within walking distance to the commercial district of Lyndale Avenue. Located one street from Lyndale Avenue, tenants will be within walking distance to Aldi, Baba's Hummus House, French Meadow Cafe, Wedge Co-op, Leaning Tower of Pizza and many others. The property includes an 8-space parking lot, an attractive feature for tenants in the relatively dense urban setting. Major capital improvements include a Duro-last roof from approximately 10 years ago and windows from approximately 10 years ago. With average rents at $967, the opportunity blends consistent cash for the owner and affordability/convenience for the tenant. Rental demand is predicted to increase over the next couple years ensuring this property remains highly occupied. This professionally run property has excellent current and historical occupancy.
Presented By: Marcus & Millichap

Interior Features for 2308 Garfield Avenue

Other Interior Features

Basement (Y/N)Yes
FuelNatural Gas

General for 2308 Garfield Avenue

AccessibilityOther
Additional Parcels Y/NNo
CityMinneapolis
Construction MaterialsStucco
ContingencyNone
CountyHennepin
Current UseResidential
DirectionsNear the intersection of Lyndale and Hennepin.
Garage Spaces
Gross Income142675
HeatingBoiler
High School DistrictMinneapolis
Land Lease Y/NNo
Lender OwnedNo
Lot Size UnitsAcres
Net Operating Income71068
Number Of Units Total12
PostalCityMinneapolis
Property SubtypeApartment
Property TypeCommercial Sale
SewerCity Sewer/Connected
Standard StatusPending
Subdivision NameBadger & Penneys 2nd Add
Tax Annual Amount22796
Tax Year2025
UtilitiesElectric Separate, Heating Common, Hot Water Common
Year Built1967
Zoning DescriptionResidential-Multi-Family

Exterior for 2308 Garfield Avenue

Building Area Total8700
Foundation Area2900
InclusionsBuilding, Fixture/Equipment, Land, Leases, Rental License
Lot DimensionsRectangle
Lot Size Area0.22
Parking FeaturesPaved
Water SourceCity Water/Connected

Additional Details

Price History

John Wichmann

Agent
Price $1,000,000
MLS#6804564
List Date 10/14/2025
Property Type Pending
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