Minneapolis, MN 55407 3948 Oakland Avenue
$640,000
Presented By: MRG Realty Partners, LLC
Garage • 4
Home Details
3948 Oakland Avenue is a 5-unit multifamily investment opportunity located in the Bryant neighborhood of South Minneapolis. The property is comprised of three two-bedroom units, one three-bedroom unit, & one four-bedroom unit.
A new boiler was installed in 2019, and the building has 100-amp electrical service. The building is currently enrolled in the Minneapolis 4D program, providing a significant reduction in annual property tax expense. There are four single stall garages included at the property. All current tenants are on month-to-month leases.
The property is well located for easy access to I-35W, as well as for access to numerous additional South Minneapolis area amenities.
Presented By: MRG Realty Partners, LLC
Interior Features for 3948 Oakland Avenue
Other Interior Features
Basement (Y/N)Yes
FuelNatural Gas
General for 3948 Oakland Avenue
AccessibilityNone
Additional Parcels Y/NNo
CityMinneapolis
ContingencyNone
CountyHennepin
Current UseResidential
DirectionsPortland Ave to 39th, east to Oakland
Garage Spaces4
Gross Income80651
HeatingBoiler
High School DistrictMinneapolis
Land Lease Y/NNo
Lender OwnedNo
Lot Size UnitsAcres
Net Operating Income44302
New ConstructionNo
Number Of Units Total5
Operating Expense36349
PostalCityMinneapolis
Property TypeCommercial Sale
SewerCity Sewer/Connected
Standard StatusActive
Subdivision NameAbbotts & Sundbys Add
Tax Annual Amount2310
Tax Year2025
UtilitiesElectric Separate
Year Built1920
Zoning DescriptionResidential-Multi-Family
Exterior for 3948 Oakland Avenue
Foundation Area5074
InclusionsBuilding
Lot Dimensions43 x 118 x 43 x 118
Lot Size Area0.12
Parking FeaturesDetached Garage
Water SourceCity Water/Connected
Additional Details
Price History
John Wichmann
Agent