Vintage Duplex with Two-Car
For Sale
$575,000
3520 Pillsbury Ave S, Minneapolis, MN 55408
Two spacious units retain hardwood floors, fireplaces, built-ins, and expanded sunroom bonus areas.
Property Size2,462 SF
Price / SF$233.55
Days on Market30
Property Features for 3520 Pillsbury Ave S
General Information
Standard status
Active
Size
2,462 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
fenced backyard
patio
screened gazebo
landscaped yard
individual basement storage lockers
dedicated laundry facilities
Building Details
Year Built
1925
Listing Agency:
Coldwell Banker Realty - Lakes
Listed By:
Christopher J Carrow
(612) 802-5592
Source:
Thehomeadvantagegroup
Added: Sep 19
Changed: Oct 5
Last Checked: Oct 16 at 12:13PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty - Lakes
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Investment Insights
Based on property information with market context.
Built in 1925, this duplex contains two expansive units with a strong collection of period details and practical living space. Each unit includes generous living and dining rooms, built-in cabinetry, wood-burning fireplaces, hardwood flooring, and bright kitchens. Expanded main bedrooms incorporate the former sunrooms, creating flexible areas for office, sitting, or exercise use. The main-level residence also has a private office and an additional three-quarter bath.
Outdoor and shared features include a fenced backyard, patio, screened gazebo, landscaped grounds, individual basement storage lockers, dedicated laundry facilities, and a two-car garage. The property is located at 3520 Pillsbury Avenue S in Minneapolis, within the Lyndale neighborhood and near neighborhood dining, bike trails, and lakes.
Outdoor and shared features include a fenced backyard, patio, screened gazebo, landscaped grounds, individual basement storage lockers, dedicated laundry facilities, and a two-car garage. The property is located at 3520 Pillsbury Avenue S in Minneapolis, within the Lyndale neighborhood and near neighborhood dining, bike trails, and lakes.
Key Highlights
- Two‑unit duplex with 2462 SF of total property size
- Built in 1925 with hardwood floors, built‑ins, and wood‑burning fireplaces
- Expanded main bedrooms include flexible former sunroom areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,972
Cap Rate
6.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$719,440
$719.4K
Cap Rate 7%
$513,886
$513.9K
Cap Rate 9%
$399,689
$399.7K
Market Conditions
NOI Build-Up for 2,462 SF
Gross rent
$54.7K $22.20/SF
− Vacancy
−$3.3K −$1.33/SF
EGI
$51.4K $20.87/SF
− OpEx
−$15.4K −$6.26/SF
NOI
$36.0K $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%
$719,440
Cap Rate 7%
$513,886
Cap Rate 9%
$399,689
Alternative Uses
Best Use
Multifamily LT 5
$513.9K
$449.7K – $599.5K
NOI $35,972 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$472.0K
$413.0K – $550.7K
NOI $33,039 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$587.4K
$514.0K – $685.3K
NOI $41,117 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,217
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two spacious units retain hardwood floors, fireplaces, built-ins, and expanded sunroom bonus areas.
Where is this duplex located?
The property is located at 3520 Pillsbury Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two‑unit duplex with 2462 SF of total property size; Built in 1925 with hardwood floors, built‑ins, and wood‑burning fireplaces; Expanded main bedrooms include flexible former sunroom areas
