Newer Three-Unit
For Sale
$900,000
1911 E 32nd St, Minneapolis, MN 55407
Three residential units combine open layouts, updated kitchens, and a flexible occupancy arrangement.
Property Size5,400 SF
Price / SF$166.67
Days on Market59
Property Features for 1911 E 32nd St
General Information
Standard status
Active
Size
5,400 SF
Property subtype
Multi-Family
Units
Unit Mix
3 x 3BR/2BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Building Details
Year Built
2022
Listing Agency:
Real Estate Corners, Inc
Listed By:
Khalid Mansour
(612) 483-1230
Source:
Tayloronken
Added: Aug 19
Changed: Oct 8
Last Checked: Oct 7 at 1:00PM
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 Real Estate Corners, Inc
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Investment Insights
Based on property information with market context.
Built in 2022, this Minneapolis triplex contains three residential units totaling 5,400 square feet. Each unit includes three bedrooms, two full bathrooms, an open living arrangement, granite countertops, and stainless steel appliances. Two units are leased, while the third can accommodate an owner occupant or be offered for rent.
The property is located on E 32nd St in South Minneapolis, with shopping, restaurants, parks, public transportation, and major highways nearby. The three-unit configuration provides a straightforward multifamily format with a combination of existing tenancy and remaining occupancy flexibility.
The property is located on E 32nd St in South Minneapolis, with shopping, restaurants, parks, public transportation, and major highways nearby. The three-unit configuration provides a straightforward multifamily format with a combination of existing tenancy and remaining occupancy flexibility.
Key Highlights
- 2022‑built triplex with 5,400 square feet
- Three units, each with 3 bedrooms and 2 full bathrooms
- Open‑concept interiors with granite countertops and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,898
Cap Rate
8.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,577,960
$1.6M
Cap Rate 7%
$1,127,114
$1.1M
Cap Rate 9%
$876,644
$876.6K
Market Conditions
NOI Build-Up for 5,400 SF
Gross rent
$119.9K $22.20/SF
− Vacancy
−$7.2K −$1.33/SF
EGI
$112.7K $20.87/SF
− OpEx
−$33.8K −$6.26/SF
NOI
$78.9K $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%
$1,577,960
Cap Rate 7%
$1,127,114
Cap Rate 9%
$876,644
Alternative Uses
Best Use
Multifamily LT 5
$1.13M
$986.2K – $1.31M
NOI $78,898 @ 7.0% cap · market cap 8.77%
Second Best
Apartment 5plus
$1.04M
$905.8K – $1.21M
NOI $72,466 @ 7.0% cap · market cap 8.05%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,183 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,384
Businesses Nearby
Explore this area
Business Placement
Demographics for 55407, MN
38,506
Population
15,979
Households
2.4
Avg Household Size
34
Median Age
48%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
9,627
Density / Sq Mi
$78,206
Median Household Income
$46,388
Median Earnings
$1,219
Median Rent
$317,000
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?
Triplex - Three residential units combine open layouts, updated kitchens, and a flexible occupancy arrangement.
Where is this triplex located?
The property is located at 1911 E 32nd St Minneapolis, MN.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 2022‑built triplex with 5,400 square feet; Three units, each with 3 bedrooms and 2 full bathrooms; Open‑concept interiors with granite countertops and stainless steel appliances
