2005-Built Triplex with Studio
For Sale
$825,000
3514 Grand Avenue S, Minneapolis, MN 55408
Residential Income, Minneapolis, MN
Property Size4,900 SF
Lot Size0.13 Acres
Price / SF$168.37
Days on Market141
Property Features for 3514 Grand Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
Residential-Multi-Family
Bedrooms
10
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 1, Bathroom 6, Bathroom 4, Basement, Bedroom 6, Bathroom 7, Bedroom 5, Bathroom 8, Bedroom 3, Bedroom 7, Bedroom 10, Laundry Room, Bedroom 1, Bedroom 8, Bedroom 9, Bathroom 5, Bathroom 2, Bathroom 3, Bedroom 2, Bedroom 4
Parking features
Garage - Detached
Subdivision
Bakers Add
High school district
Minneapolis
Directions
I-35 to 35th-36th Street, west on 35th Street to Grand Avenue, south to property.
Standard status
Active
APN
0302824320126
Size
4,900 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
14668
Utilities
Heating system
Forced Air
Amenities
in-unit laundry
Building Details
Year built
2005
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Shelbie Cox
(612) 600-6000
Added: May 22
Changed: Oct 9
Last Checked: Oct 9 at 11:06AM
MLS# 7079275
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 2005, this 4,900-square-foot triplex includes an additional studio/storage area. The residential units have modern kitchens, updated baths, and in-unit laundry. Heating is forced air, and parking is provided by a detached garage. The lot measures 0.13 acres.
The property is within walking distance of Uptown restaurants, retail, and transit. Water can be separately metered, allowing tenant billing for usage.
The property is within walking distance of Uptown restaurants, retail, and transit. Water can be separately metered, allowing tenant billing for usage.
Key Highlights
- 4,900‑square‑foot triplex with an additional studio/storage area
- Built in 2005 on a 0.13‑acre lot
- Residential units feature kitchens, updated baths, and in‑unit laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,592
Cap Rate
8.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,431,840
$1.4M
Cap Rate 7%
$1,022,743
$1.0M
Cap Rate 9%
$795,467
$795.5K
Market Conditions
NOI Build-Up for 4,900 SF
Gross rent
$108.8K $22.20/SF
− Vacancy
−$6.5K −$1.33/SF
EGI
$102.3K $20.87/SF
− OpEx
−$30.7K −$6.26/SF
NOI
$71.6K $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%
$1,431,840
Cap Rate 7%
$1,022,743
Cap Rate 9%
$795,467
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$894.9K – $1.19M
NOI $71,592 @ 7.0% cap · market cap 8.68%
Second Best
Apartment 5plus
$939.4K
$822.0K – $1.10M
NOI $65,757 @ 7.0% cap · market cap 7.97%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,833 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,131
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units are complemented by a separate studio/storage area, with kitchens, updated baths, and in-unit laundry.
Where is this triplex located?
The property is located at 3514 Grand Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 4,900‑square‑foot triplex with an additional studio/storage area; Built in 2005 on a 0.13‑acre lot; Residential units feature kitchens, updated baths, and in‑unit laundry
