For Sale: Minneapolis MLS# 7052375
Active
NEW!
$579,000
Multi-family: Triplex
5 br • 3 ba • Built 1908
2,775 sqft • 0.12 acres
Minneapolis schools
MLS# 7052375
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Property Description
Rare opportunity to own a highly unique piece of Minneapolis history — this 1908 triplex at 3024 Chicago Avenue has been held by the same family since it was built, now offered to the public for the very first time. 3024 offers two spacious 2BR/1BA units and a studio attic, featuring hardwood floors, natural woodwork, built-ins, and three porches. Included with the sale is the fully renovated carriage house ADU at 3026 Chicago Avenue (same parcel) — a private turnkey 1BR/1BA home with a beautiful modern kitchen, in-unit washer/dryer, and furniture which is included in the sale as well. 3026 was previously rented at $2, 100/month. An ideal setup for an owner-occupant seeking added privacy or an investor looking to maximize returns across multiple income streams. Recent combined current rents of $5, 600/month with market upside. Great location just blocks from Abbott Northwestern and Children's Hospitals, with easy access to I-35W, Midtown Global Market, and the Lake Street corridor. Fast connections to Downtown Minneapolis and Mall of America via the D Line Rapid METRO. Owner currently pays all utilities. Four off-street parking spaces. Coin-op laundry. Strong in-place cash flow with clear rent upside — a true value-add opportunity in a high-demand rental submarket. All measurements deemed reliable but not guaranteed; buyer to verify.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$579,000
Price per sq ft:
$209
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1908
State:
MN
Property Style:
Triplex
Zip Code:
55407
Neighborhood/Area:
11
Interior
Bedrooms:
5
Bathrooms:
3
Finished Area:
2,775 ft2
Living Area:
2,775 ft2
Basement Details:
Full
Exterior
Stories:
Two
Garage Spaces:
0
Garage Dimensions:
0
Garage Door Height:
0
Garage Door Width:
0
Foundation Size:
1,008 ft2
Foundation Dimensions:
41x25
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
- Driveway - Other Surface
- Open
Shared Amenities:
Coin-op Laundry Owned
Rooms
Laundry:
- Common Area
- In Basement
Lot & Land
Acres:
0.12
Geolocation:
44.9474990226, -93.2629946135
Lot Dimensions:
123 x 41
Zoning:
Residential-Multi-Family
Schools
School District:
1
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
$550
Annual Electric Expense:
$1,824
Annual Fuel Expense:
$3,120
Annual Insurance Expense:
$2,217
Annual Maintenance Expense:
None
Annual Trash Expense:
$1,114
Annual Water/Sewer Expense:
$1,962
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$7,710
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$7,710
Income
Annual Gross Income:
$67,200
Misc. Annual Income:
$1,500
Misc. Monthly Income:
$125
Rent
Annual Net Income:
$42,727
Units
Total Units:
4
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
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Listing provided by RMLS,
courtesy of MRG Realty Partners, LLC.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.