Triplex with Attached
For Sale
$879,900
3412 Humboldt Avenue S, Minneapolis, MN 55408
Residential Income, Minneapolis, MN
Property Size5,195 SF
Lot Size0.12 Acres
Price / SF$169.37
Days on Market49
Property Features for 3412 Humboldt Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
Residential-Multi-Family
Bedrooms
9
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 1, Bathroom 5, Bedroom 9, Bathroom 2, Basement, Bedroom 6, Bathroom 3, Bedroom 5, Bathroom 4, Bathroom 6, Bedroom 2, Bedroom 7, Bedroom 4, Bathroom 1, Bedroom 3, Bedroom 8
Parking features
Garage - Attached, Garage, Open, Driveway
Exterior features
Brick/Stone
Subdivision
Calhoun Park
Lot features
Public Transit (w/in 6 blks), Tree Coverage - Light, Underground Utilities
High school district
Minneapolis
Directions
Hennepin Ave to W 34th St, West to Humboldt Ave S, South to Property located on right.
Standard status
Active
APN
0402824310064
Size
5,195 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
16013
Utilities
Heating system
Oil
Building Details
Year built
1948
Building materials
Block, Brick, Frame
Roof type
Rubber, Flat, Shingle
Listing Agency:
MOVE
(651) 955-3472
Listed By:
Thomas B Meckey
(651) 955-3472
Added: Jul 10
Changed: Aug 19
Last Checked: Aug 27 at 2:06PM
MLS# 7106694
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.
Built in 1948, this Minneapolis multifamily property contains 5,195 square feet of finished space on a 0.12-acre lot. The building operates as a triplex and includes a non-conforming fourth unit, with a room count comprising 9 bedrooms and 6 bathrooms. Interior features include hardwood flooring and abundant natural light. Exterior construction includes brick/stone, block, and frame materials, while the roof systems include rubber, flat, and shingle components. Heating is provided by oil service. Parking includes an attached 2-car garage, additional garage space, open parking, and a driveway.
The property is near Lake Bde Maka Ska, the Lyn-Lake and Uptown dining, shopping, and entertainment districts, and nearby public transit. Bikeable streets provide local connectivity, with access to I-35W and downtown Minneapolis. Local zoning, square footage, and unit compliance details require verification with the city.
The property is near Lake Bde Maka Ska, the Lyn-Lake and Uptown dining, shopping, and entertainment districts, and nearby public transit. Bikeable streets provide local connectivity, with access to I-35W and downtown Minneapolis. Local zoning, square footage, and unit compliance details require verification with the city.
Key Highlights
- 5,195 square feet of finished space on a 0.12‑acre lot
- Triplex configuration with a non‑conforming fourth unit
- 9 bedrooms and 6 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$75,903
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.63%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,518,060
$1.5M
Cap Rate 7%
$1,084,329
$1.1M
Cap Rate 9%
$843,367
$843.4K
Market Conditions
NOI Build-Up for 5,195 SF
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.
Gross rent
$115.3K $22.20/SF
− Vacancy
−$6.9K −$1.33/SF
EGI
$108.4K $20.87/SF
− OpEx
−$32.5K −$6.26/SF
NOI
$75.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,518,060
Cap Rate 7%
$1,084,329
Cap Rate 9%
$843,367
Alternative Uses
Best Use
Multifamily LT 5
$1.08M
$948.8K – $1.27M
NOI $75,903 @ 7.0% cap · market cap 8.63%
Second Best
Apartment 5plus
$995.9K
$871.4K – $1.16M
NOI $69,715 @ 7.0% cap · market cap 7.92%
Theoretical Best
Office A
$1.24M
$1.08M – $1.45M
NOI $86,759 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,866
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - The property includes a non-conforming fourth unit, hardwood floors, natural light, and attached parking.
Where is this triplex located?
The property is located at 3412 Humboldt Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $879,900.
What are key features of this property?
This property features: 5,195 square feet of finished space on a 0.12‑acre lot; Triplex configuration with a non‑conforming fourth unit; 9 bedrooms and 6 bathrooms
