Well-Maintained Four-Unit Income
4348 Minnehaha Avenue Minneapolis, MN 55406
For Sale
$645,000
Four two-bedroom units feature wall-mounted air conditioning, dishwashers, updated baths, and separate hot water heating systems.
Property Size2,912 SF
Price / SF$221.50
Days on Market467
Property Features for 4348 Minnehaha Avenue
General Information
- Standard status
- Active
- Size
- 2,912 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1929
Listing Agency:
Coldwell Banker Realty - Lakes
(612) 387-1493
Listed By:
Christian Knudson
(612) 387-1493
Source:
Exitrealty
Added: Apr 14, 2025
Changed: Jul 23
Last Checked: Jul 23 at 6:48AM
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
Investment Insights
Based on property information with market context.
This well-maintained four-unit property includes four two-bedroom units, each with oak hardwood floors and wall-mounted air conditioning units. Units also feature dishwashers, updated bathrooms, and updated windows. The property is supported by separate hot water heating systems and updated electrical panels for each unit.
A full basement provides additional tenant-accessible storage, along with two sets of coin-operated laundry machines. The property sits on an extra-deep lot with off-street parking.
The building’s setup is designed for straightforward residential rental use, offering consistent unit amenities and practical shared support features in the basement.
A full basement provides additional tenant-accessible storage, along with two sets of coin-operated laundry machines. The property sits on an extra-deep lot with off-street parking.
The building’s setup is designed for straightforward residential rental use, offering consistent unit amenities and practical shared support features in the basement.
Key Highlights
- Four 2‑bedroom units in a 1929‑built four‑plex
- Each unit has oak hardwood floors, wall‑mounted air conditioning, and a dishwasher
- Updated bathrooms and windows throughout; separate hot water heating systems for each unit
Financial Insights For Multifamily LT 5
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 | $57.7k | $19.80 |
| − Vacancy | −$3.7k | −$1.29 |
| EGI | $53.9k | $18.51 |
| − OpEx | −$16.2k | −$5.55 |
| NOI | $37.7k | $12.96 |
2,912 SF · lease $19.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$539.1K
$471.7K – $629.0K
NOI $37,737 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$501.8K
$439.0K – $585.4K
NOI $35,123 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$850.9K
$744.5K – $992.7K
NOI $59,563 @ 7.0% cap · market cap 9.23%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Four two-bedroom units feature wall-mounted air conditioning, dishwashers, updated baths, and separate hot water heating systems.
Where is this quadplex located?
The property is located at 4348 Minnehaha Avenue Minneapolis, MN.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Four 2‑bedroom units in a 1929‑built four‑plex; Each unit has oak hardwood floors, wall‑mounted air conditioning, and a dishwasher; Updated bathrooms and windows throughout; separate hot water heating systems for each unit
