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    2637 Pleasant Ave Minneapolis, MN 55408

    For Sale
    $2,850,000

    Whittier Park, renovated apartments, high ROI.

    Property size:
    19,200 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    316
    This exceptional 21-unit multifamily property, located at 2637 Pleasant Avenue in Minneapolis, Minnesota's desirable Whittier Park neighborhood, presents a compelling investment opportunity. The building, constructed in 1966, boasts an attractive all-brick and stucco exterior and sits on a 0.32-acre lot. The spacious 19,200 square foot building offers a diverse unit mix including two 2-bedroom units, fifteen 1-bedroom units, and four studio units. A significant portion of the apartments have undergone recent renovations, featuring updated kitchens and bathrooms, modern LVP flooring, stylish lighting fixtures, and new appliance packages. Further enhancing energy efficiency and value, the property includes newer double-pane vinyl replacement windows, two energy-efficient hot water boilers, and recently installed coin-operated laundry machines. Its prime location offers convenient access to the Minneapolis College of Art & Design (MCAD), the Minneapolis Institute of Arts museum, and the vibrant downtown area, ensuring strong rental demand and potential for future appreciation. This well-maintained property is priced at $2,850,000 and represents a rare opportunity to acquire a profitable multifamily asset in a highly sought-after Minneapolis location.

    Property Features for 2637 Pleasant Ave

    General Information

    Property type
    Residential income properties
    Square Feet
    19,200 SF
    Lot Size
    13,939 SF

    Building Details

    Year Built
    1966
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    2637 Pleasant Ave ... Apartment Building

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Minneapolis
    County
    Hennepin
    State
    Minnesota
    Longitude
    -93.28256
    Latitude
    44.95425

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    FAQs

    What type of property is this?
    Residential income property - Whittier Park, renovated apartments, high ROI.
    Where is this residential income property located?
    The property is located at 2637 Pleasant Ave Minneapolis, MN.
    What is the asking price?
    The asking price for this property is $2,850,000.
    (651) 263-3653
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2637 Pleasant Ave Minneapolis, MN 55408
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