Updated Multifamily Income
3304 Lyndale Avenue S Minneapolis, MN 55408
3304 Lyndale Avenue S, Minneapolis, MN, 55408
$364,900
Pending
For Sale
$364,900
Pending
MULTI_FAMILY - Minneapolis, MN
Property Size1,700 SF
Lot Size0.11 Acres
Days on Market128
Property Features for 3304 Lyndale Avenue S
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 1, Bathroom 1, Bedroom 4, Bedroom 3, Bathroom 2, Basement, Bedroom 2
- Parking features
- Parking Lot
- Exterior features
- Vinyl
- Standard status
- Pending
- APN
- 0402824140222
- Size
- 1,700 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 5671
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1907
Listing agency
Keller Williams Realty Integrity Lakes
(612) 821-7400
Listed by
Ineye Bobmanuel
(612) 821-7400
Added: Mar 16 Updated: Jul 18 at 12:49AM Checked: Jul 21 at 9:06AM
MLS# 7006768
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 multifamily income property has been refreshed with 9 newer windows, newer carpet and fixtures, a new furnace, new appliances, and a remodeled bathroom. The updates support a turnkey approach for continued residential income, with the additional note that the property is zoned for small business.
The property is on a bus line and close to bike paths, lakes, restaurants, and shops. It is also located across from a park. The listing also notes the potential to add a garage with an ADU.
Set on a 0.11-acre lot, the property is listed for sale and provides an income-focused multifamily option with room to consider alternative uses consistent with its small-business zoning.
The property is on a bus line and close to bike paths, lakes, restaurants, and shops. It is also located across from a park. The listing also notes the potential to add a garage with an ADU.
Set on a 0.11-acre lot, the property is listed for sale and provides an income-focused multifamily option with room to consider alternative uses consistent with its small-business zoning.
Key Highlights
- 1907 build with vinyl exterior and forced‑air heating
- Recent updates include 9 newer windows, newer carpet and fixtures
- New furnace and newer appliances included
Local Financial Insights For Apartment 5plus
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 | $44.3k | $26.04 |
| − Vacancy | −$2.8k | −$1.64 |
| EGI | $41.5k | $24.40 |
| − OpEx | −$18.7k | −$10.98 |
| NOI | $22.8k | $13.42 |
1,700 SF · lease $26.04/SF/yr · vacancy 6.30% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$325.9K
$285.2K – $380.2K
NOI $22,814 @ 7.0% cap · market cap 6.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$405.6K
$354.9K – $473.2K
NOI $28,391 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Multifamily property - Recently updated with newer windows, carpet, fixtures, a new furnace, appliances, and a remodeled bathroom.
Where is this multifamily property located?
The property is located at 3304 Lyndale Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $364,900.
What are key features of this property?
This property features: 1907 build with vinyl exterior and forced‑air heating; Recent updates include 9 newer windows, newer carpet and fixtures; New furnace and newer appliances included
