Remodeled Quadplex with
For Sale
$650,000
2740 Lyndale Ave S, Minneapolis, MN 55408
Remodeled four-unit property with separate heating systems and off-street parking.
Property Size2,856 SF
Price / SF$227.59
Days on Market42
Property Features for 2740 Lyndale Ave S
General Information
Standard status
Active
Size
2,856 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR
Multifamily Units
4
Additional Details
Road Access
Yes
Amenities
storage spaces
Building Details
Year Built
1909
Buildings
1
Listing Agency:
National Realty Guild
Listed By:
Su-Jingjing Brown
(651) 494-4000
Source:
Brickandbanister
Added: Aug 25
Changed: Sep 12
Last Checked: Oct 4 at 3:49PM
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 National Realty Guild
Investment Insights
Based on property information with market context.
This 2,856-square-foot quadplex at 2740 Lyndale Ave S in Minneapolis was built in 1909 and contains four two-bedroom units. The building underwent extensive remodeling by a previous owner, including work to the roof, boilers, furnaces, and electrical systems, with permits pulled for the improvements.
Each unit has its own boiler and furnace. The property also provides 8 off-street parking spaces, while Unit 2 is being maintained vacant. Two large basement storage areas offer additional building utility and feature substantial ceiling height.
Each unit has its own boiler and furnace. The property also provides 8 off-street parking spaces, while Unit 2 is being maintained vacant. Two large basement storage areas offer additional building utility and feature substantial ceiling height.
Key Highlights
- Four‑unit quadplex with 2,856 SF of building area
- Each unit includes 2 bedrooms
- Remodeling included roof, boilers, furnaces, and electrical systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,728
Cap Rate
6.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$834,560
$834.6K
Cap Rate 7%
$596,114
$596.1K
Cap Rate 9%
$463,644
$463.6K
Market Conditions
NOI Build-Up for 2,856 SF
Gross rent
$63.4K $22.20/SF
− Vacancy
−$3.8K −$1.33/SF
EGI
$59.6K $20.87/SF
− OpEx
−$17.9K −$6.26/SF
NOI
$41.7K $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%
$834,560
Cap Rate 7%
$596,114
Cap Rate 9%
$463,644
Alternative Uses
Best Use
Multifamily LT 5
$596.1K
$521.6K – $695.5K
NOI $41,728 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$547.5K
$479.1K – $638.8K
NOI $38,327 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$681.4K
$596.2K – $795.0K
NOI $47,697 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,058
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Remodeled four-unit property with separate heating systems and off-street parking.
Where is this quadplex located?
The property is located at 2740 Lyndale Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Four‑unit quadplex with 2,856 SF of building area; Each unit includes 2 bedrooms; Remodeling included roof, boilers, furnaces, and electrical systems
