Duplex with Ground-Level
For Sale
$520,000
2635 Pillsbury Avenue S, Minneapolis, MN 55408
Residential Income, Minneapolis, MN
Property Size2,935 SF
Lot Size0.11 Acres
Price / SF$177.17
Days on Market58
Property Features for 2635 Pillsbury Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Laundry Room, Bedroom 5, Basement, Bedroom 3, Bedroom 6, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 7
Parking features
Garage - Detached
Subdivision
J T Blaisdells Rev Add
High school district
Minneapolis
Directions
2635 pillsbury ave s minneapolis
Standard status
Active
APN
3402924310018
Size
2,935 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7950
Utilities
Heating system
Hot Water(Heating)
Building Details
Year built
1900
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Travis Sabby
(612) 600-6000
Added: Aug 13
Changed: Oct 9
Last Checked: Oct 9 at 11:06AM
MLS# 7126850
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.
Investment Insights
Based on property information with market context.
This South Minneapolis duplex contains two residential units and a furnished, ground-level nonconforming studio. The main building offers 2,935 square feet, and the property sits on a 0.11-acre lot. One of the two main units is leased month-to-month; both are tenant occupied. The studio is vacant. A detached, oversized two-car garage provides on-site parking. The building dates to 1900 and has hot water heating.
Restaurants, shops, and transit are nearby in South Minneapolis.
Restaurants, shops, and transit are nearby in South Minneapolis.
Key Highlights
- Two residential units plus a furnished, ground‑level nonconforming studio
- 2,935 square feet on a 0.11‑acre lot
- Both main units are tenant occupied; one is month‑to‑month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,882
Cap Rate
8.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$857,640
$857.6K
Cap Rate 7%
$612,600
$612.6K
Cap Rate 9%
$476,467
$476.5K
Market Conditions
NOI Build-Up for 2,935 SF
Gross rent
$65.2K $22.20/SF
− Vacancy
−$3.9K −$1.33/SF
EGI
$61.3K $20.87/SF
− OpEx
−$18.4K −$6.26/SF
NOI
$42.9K $14.61/SF
Area
Minneapolis, MN
Vacancy
5.98%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$857,640
Cap Rate 7%
$612,600
Cap Rate 9%
$476,467
Alternative Uses
Best Use
Multifamily LT 5
$612.6K
$536.0K – $714.7K
NOI $42,882 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$562.7K
$492.3K – $656.5K
NOI $39,387 @ 7.0% cap · market cap 7.57%
Theoretical Best
Office A
$700.2K
$612.7K – $816.9K
NOI $49,016 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,002
Businesses Nearby
Explore this area
Business Placement
Demographics for 55408, MN
33,718
Population
17,874
Households
1.9
Avg Household Size
30
Median Age
59%
College-Educated
91%
High-School Grad
2.7 sq mi
ZIP Area
12,488
Density / Sq Mi
$72,421
Median Household Income
$49,753
Median Earnings
$1,385
Median Rent
$387,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two main residences are occupied, while the furnished studio is vacant.
Where is this duplex located?
The property is located at 2635 Pillsbury Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Two residential units plus a furnished, ground‑level nonconforming studio; 2,935 square feet on a 0.11‑acre lot; Both main units are tenant occupied; one is month‑to‑month
