The investment opportunity you’ve been waiting for! This massive duplex in the Central Neighborhood of South Minneapolis offers strong current income with future upside. Key capital improvements already completed, including brand-new boilers for both units, maintenance-free siding, updated windows, and nicely refreshed interiors—ideal for attracting top-market rents while minimizing future repair costs. Owner occupant investors welcomed with lower unit lease ending 5/31!
With nearly 2,600 finished sq ft and over 5,600 total sq ft, this property features a large basement and walk-up attic currently used for tenant storage but offering potential for value-added expansion for the next owner. Ideal for both first-time investors or seasoned builders seeking a great addition to their portfolio. Units rented until June of 2026 at $1895 & May of 2026 at $1650. Owner pays for water/sewer/trash, tenants responsible for gas & electric.
Presented By: Keller Williams Classic Rlty NW
Interior Features for 3232 3rd Avenue S
Bedrooms
Total Bedrooms5
Bathrooms
Total Baths2
Other Interior Features
Above Grade Finished Area2560
BasementFull, Unfinished
Basement (Y/N)Yes
Below Grade Finished Area
FuelNatural Gas
General for 3232 3rd Avenue S
AccessibilityStair Chair Lift
Additional Parcels Y/NNo
CityMinneapolis
ContingencyNone
CountyHennepin
Directions35w to 31st, east to 3rd, south to property.
Electric Expense
Fuel Expense
Garage Spaces
Gross Income42540
HeatingBoiler, Hot Water
High School DistrictMinneapolis
Insurance Expense
Land Lease Y/NNo
Lender OwnedNo
LevelsTwo
Living Area2560
Lot Size UnitsAcres
MaintenanceExpense0
Net Operating Income0
New ConstructionNo
Number Of Units Total2
Operating Expense0
OwnerPaysInsurance, Repairs, Taxes
PostalCityMinneapolis
Property TypeResidential Income
RoofAsphalt, Rubber
SewerCity Sewer/Connected
Standard StatusActive
Tax Annual Amount5099.5
Tax Year2025
Tenant PaysElectricity, Fuel, Lawn Care, Snow Removal
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