3520 12th Avenue S, Minneapolis, MN 55407 (MLS# 7088951)

3520 12th Avenue S, Minneapolis, MN 55407

$2,425,000
Property Type: Commercial Square Footage: 13,700 Lot Size (sq. ft.): 18,731 Status: Active
Current Price: $2,425,000 List Date: 6/08/2026 Last Modified: 8/27/2026

Overview

Description

21-unit multifamily in Minneapolis's Powderhorn Park neighborhood offered at $2,425,000 ($115,476/door). This 1BR, 2BR, and studio building features on-site parking and shared laundry with current rents running below market, presenting immediate upside for a new owner. The most recent capital upgrade was a brand new roof in 2026, with newer mechanicals, a clean exterior, and numerous energy efficiency appliance upgrades through the Minneapolis 4D program which also keeps taxes low. Many units have already been remodeled with additional turns remaining, creating a clear and executable value-add path. Potential NOI of $193,648 with meaningful rent upside still on the table. Ideal for an operator or passive investor looking to deploy into a proven south Minneapolis value-add multifamily. Available individually or as part of a 7-property, 89-unit South Minneapolis portfolio offered at $9,750,000. Refer to OM for more details.

Listing Details MLS# 7088951

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Other Parking Spaces
15
Owner Occupied
No
Waterfront YN
No
Year Built
1968
Yearly/Seasonal
Yearly
Zoning
Residential-Multi-Family
Foundation Size
4566
For Sale or Lease
For Sale
Acres
0.43
Lot Dimensions
152.90 X 122.00
Assessment Pending
Yes

Property Features

Accessible: None Assumable Loan: Not Assumable CMU Style: Apartments/Multi Family; Low Rise Construction Status: Previously Owned Current Use: Residential Exterior: Brick/Stone; Vinyl Foundation: Concrete Block Fuel: Electric; Natural Gas Heating: Boiler Loan Terms: Cash; Conventional On Site Utilities: Electric Common; Electric Separate; Heating Common; Hot Water Common Parking Characteristics: Parking Lot; Paved Lot Rental License Type: Standard Sewer: City Sewer/Connected Stories: Two Water: City Water/Connected

Contract Information

Contingency
None
ListPrice
2425000
Owner is an Agent?
Yes
Auction?
No

Location Tax and Other Information

House Number
3520
Street Name
12th
Street Suffix
Avenue
Street Direction Suffix
S
Postal City
Minneapolis
County
Hennepin
State
MN
Zip Code
55407
Complex/Dev/Subdivision
Maben & Whites Add

Assessments

Assessment Balance
847.07
Tax With Assessments
17072.6

Building Information

Building Finished SqFt
13700
Building SqFt
13700

More Information

Income and Expenses

Annual Gross Expenses
94387
Annual Gross Income
295800
Annual Net Income
193648

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Public Survey Info

Range#
24
Section#
02
Township#
28

Sale Options

Sale Includes
Building, Fixture/Equipment, Land, Rental License

Unit 1

No. of 1 Bedroom Units
12

Unit 2

No. of 2 Bedroom Units
8

Unit Details

Total Units
21

Unit Information

No. of Efficiency Units
Yes

Documents

IDX
Listing Office: Commercial Investors Group LLC
Last Updated: August - 27 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
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