Four-Level
For Sale
$569,900
2208 Milwaukee Ave, Minneapolis, MN 55404
Two residential units are arranged across the building’s four levels, with laundry provided for each.
Property Size3,381 SF
Price / SF$168.56
Days on Market8
Property Features for 2208 Milwaukee Ave
General Information
Standard status
Active
Size
3,381 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
in-unit laundry
Building Details
Year Built
1981
Buildings
1
Stories
4
Listing Agency:
RE/MAX Results
Listed By:
Amy Ruzick · License #20317563
(651) 492-1044
Source:
Vibemn
Added: Sep 28
Changed: Oct 5
Last Checked: Oct 4 at 2:22PM
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 RE/MAX Results
Investment Insights
Based on property information with market context.
This 3,381-square-foot duplex has four levels, with one residence occupying the upper two floors and another across the lower two. The lower residence is currently arranged as two separate furnished rentals. Both units have their own laundry, and the property includes updated kitchens and bathroom finishes. An attached garage accommodates two cars.
Built in 1981, the property is within the Milwaukee Avenue Historic District in Minneapolis.
Built in 1981, the property is within the Milwaukee Avenue Historic District in Minneapolis.
Key Highlights
- 3,381‑square‑foot duplex arranged over 4 levels
- Two‑unit layout, with one residence on the upper two floors and one on the lower two
- Lower unit currently arranged as two separate furnished rentals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,399
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$987,980
$988.0K
Cap Rate 7%
$705,700
$705.7K
Cap Rate 9%
$548,878
$548.9K
Market Conditions
NOI Build-Up for 3,381 SF
Gross rent
$75.1K $22.20/SF
− Vacancy
−$4.5K −$1.33/SF
EGI
$70.6K $20.87/SF
− OpEx
−$21.2K −$6.26/SF
NOI
$49.4K $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%
$987,980
Cap Rate 7%
$705,700
Cap Rate 9%
$548,878
Alternative Uses
Best Use
Multifamily LT 5
$705.7K
$617.5K – $823.3K
NOI $49,399 @ 7.0% cap · market cap 8.67%
Second Best
Apartment 5plus
$648.2K
$567.2K – $756.2K
NOI $45,372 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$806.6K
$705.8K – $941.1K
NOI $56,465 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,030
Businesses Nearby
Explore this area
Business Placement
Demographics for 55404, MN
29,322
Population
14,372
Households
2
Avg Household Size
32
Median Age
35%
College-Educated
81%
High-School Grad
1.8 sq mi
ZIP Area
16,290
Density / Sq Mi
$43,932
Median Household Income
$35,970
Median Earnings
$1,063
Median Rent
$294,200
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?
Duplex - Two residential units are arranged across the building’s four levels, with laundry provided for each.
Where is this duplex located?
The property is located at 2208 Milwaukee Ave Minneapolis, MN.
What is the asking price?
The asking price for this property is $569,900.
What are key features of this property?
This property features: 3,381‑square‑foot duplex arranged over 4 levels; Two‑unit layout, with one residence on the upper two floors and one on the lower two; Lower unit currently arranged as two separate furnished rentals
