2444 1st Avenue S, Minneapolis, MN 55404
MULTI_FAMILY - Minneapolis, MN
- Added:
- May 20, 2026
- Days on Market:
- 42
- Last Refresh:
- Jun 30 at 3:06 am
Property Features for 2444 1st Avenue S
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Basement, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 4, Bedroom 5
- Parking features
- Covered
- Exterior features
- Wood
- Standard status
- Active
- APN
- 3402924130046
- Size
- 3,009 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 9040
Utilities
- Heating system
- Oil, Baseboard
Building Details
- Year built
- 1909
- Roof type
- Shingle
Listing agent Karen L Reid License #RA-20533107 (952) 829-2900
Listing office RE/MAX Results 2100 Ford Pkwy Suite 201, Eden Prairie, MN (651) 698-8006
Listing date May 20, 2026
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Fully rented triplex with upper level artist studio for additional income potential or bonus space/expansion
- Private parking in the back
- Steps from "Eat Street" on Nicollet with access to coffee shops, MIA, and 35W and downtown
- Year built 1909
- Roof is shingle; heating includes oil and baseboard
- Covered parking available
Overview
The address is 2444 1st Avenue S in Minneapolis, MN 55404. The home is described as steps from “Eat Street” on Nicollet, placing it near coffee shops. The remarks also note easy access to 35W and downtown, and proximity to MIA.
For buyers considering residential income, this configuration may appeal as a clean, all-in-one property with consistent occupancy and an internal studio component that could be used to support flexible living or creative space needs. Tenants and operators should appreciate the private parking setup at the rear, along with the walkable convenience implied by the nearby retail and dining options. Overall, it presents as a triplex that balances established residential tenancy with an additional, on-site studio room type.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.8k | $22.20 |
| − Vacancy | −$4.0k | −$1.33 |
| EGI | $62.8k | $20.87 |
| − OpEx | −$18.8k | −$6.26 |
| NOI | $44.0k | $14.61 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Minneapolis
- County
- Anoka
- State
- Minnesota
- Longitude
- -93.276921
- Latitude
- 44.957615
