Melissa Perreault
MLS#7088996
STATUSActive
PROPERTY TYPECommercial - Business
SUBDIVISIONBloomington Ave Add
SCHOOLMinneapolis
Property Description
11-unit multifamily in Minneapolis's Corcoran neighborhood offered at $1,275,000 ($113,636/door). The property features a desirable mixed unit mix of 6 two-bedroom and 5 one-bedroom units with market rents of $1,400 and $1,100 respectively, delivering broad renter appeal in a stable primarily residential submarket with strong transit connectivity and consistent tenant demand. Recent capital upgrades include a brand new parking lot in 2025, newer boiler, updated water heaters, and numerous new appliances through energy efficiency programs in 2026. The property is part of the Minneapolis 4D program keeping taxes low. Some units have already been turned with additional value-add upside remaining, all on top of stable in-place cash flow and a potential NOI of $100,377. Available individually or as part of a 7-property, 89-unit South Minneapolis portfolio offered at $9,750,000. Refer to OM for more information.
Property Features
Property Type: Commercial - Business
Fuel Type: Electric, Natural Gas
Heating: Boiler
Lot Size: 0.21 Acres
Stories: 2.0
Taxes: $7,590
Year Built: 1962
Feature Descriptions
Current Use: Residential
Days on Site: 1
Foundation Size: 3283
Lot Dimensions: 75 X 123
Parcel#: 0202824420090
Parking: Parking Lot
Sale Includes: Building, Fixture/Equipment, Land, Leases, Rental License
Sewer: City Sewer/Connected
Units: 11
Utilities: Electric Common, Electric Separate, Heating Common, Hot Water Common
Water: City Water/Connected
Local Schools
School District: Minneapolis
Listed By / Shown By
Listed By
Agency Name: Commercial Investors Group LLC
Agency Phone: 612-598-0780
Shown By
Agent Name: Melissa Perreault
Agent Phone: (218) 289-5590
Agency Title: LeBlanc Realty
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3545 12th Avenue S | MLS# 7088996
This commercial property located at 3545 12th Avenue S, Minneapolis, MN 55407 is currently listed for sale with an asking price of $1,275,000. 12th Avenue S is located within the Minneapolis school district. Search Minneapolis real estate on mperreault.leblancrealty.com today.