Minneapolis, MN 55408 3408 Stevens Avenue
$750,000
10 more
Presented By: MRG Realty Partners, LLC
Home Details
A 6-unit multifamily investment opportunity located in the Lyndale neighborhood of South Minneapolis. The property is comprised of four two-bedroom units & two one-bedroom units.
A new high-efficiency boiler & two new water heaters were installed in 2024. The windows were replaced in 2019. The building is currently enrolled in the Minneapolis 4D program, providing a significant reduction in annual property tax expense. There is off-street parking in the back of the building; one space for each unit. All current tenants are on month-to-month leases.
The property is well located for easy access to I-35W as well as for easy access to numerous neighborhood amenities toward Lyndale Avenue & beyond.
Presented By: MRG Realty Partners, LLC
Interior Features for 3408 Stevens Avenue
Other Interior Features
Basement (Y/N)Yes
FuelNatural Gas
General for 3408 Stevens Avenue
AccessibilityNone
Additional Parcels Y/NNo
CityMinneapolis
ContingencyNone
CountyHennepin
Current UseResidential
DirectionsI-35W to Exit 14 (35th St / 36th St)
Garage Spaces
Gross Income92218
HeatingBoiler
High School DistrictMinneapolis
Land Lease Y/NNo
Lender OwnedNo
Lot Size UnitsAcres
Net Operating Income55839
New ConstructionNo
Number Of Units Total6
Operating Expense36379
PostalCityMinneapolis
Property TypeCommercial Sale
SewerCity Sewer/Connected
Standard StatusActive
Subdivision NameNicollet Ave Add
Tax Annual Amount2652
Tax Year2025
UtilitiesElectric Separate
Year Built1923
Zoning DescriptionResidential-Multi-Family
Exterior for 3408 Stevens Avenue
Foundation Area6098
InclusionsBuilding
Lot Dimensions45 x 131 x 45 x131
Lot Size Area0.14
Parking FeaturesParking Lot
Water SourceCity Water/Connected
Additional Details
Price History
John Wichmann
Agent