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Minneapolis Multifamily Investment Opportunity

2323 Clinton Ave, Minneapolis, MN 55404

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For Sale

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39 units, 100% occupied, walkable location near downtown Minneapolis.

Type:Multifamily

Property size:

18,894 SF

Price / SF:

$206/SF

HighLights

100% Occupied, providing immediate cash flow.
39‑unit multifamily portfolio with a desirable mix of studios and one‑bedroom units.
Prime location in South Minneapolis, walkable to Downtown, Eat Street, MCAD, and the Minneapolis Institute of Art.
Two adjacent properties offer operational scale and ease of management.
Located directly on a bus line with convenient access to Uptown and the Midtown Greenway.
Operational upside potential through RUBS implementation, expense recapture, and strategic interior upgrades.

We can help!

Contact an agent

Doug McNicoll

For Sale

Contact for pricing

39 units, 100% occupied, walkable location near downtown Minneapolis.

Type:Multifamily

Property size:

18,894 SF

Price / SF:

$206/SF

Added:: Mar 2, 2026
Days on Market:: 126
Last Refresh:: Jul 3 at 6:03 am

Property Features for 2323 Clinton Ave

General Information

Standard status: Active
Size: 18,894 SF
Property subtype: Multifamily

Building Details

Year Built: 1962

We can help!

Contact an agent

Doug McNicoll

Listing office MRG Realty Partners

Listing date Mar 2, 2026

Source Crexi

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 MRG Realty Partners

HighLights

100% Occupied, providing immediate cash flow.
39‑unit multifamily portfolio with a desirable mix of studios and one‑bedroom units.
Prime location in South Minneapolis, walkable to Downtown, Eat Street, MCAD, and the Minneapolis Institute of Art.
Two adjacent properties offer operational scale and ease of management.
Located directly on a bus line with convenient access to Uptown and the Midtown Greenway.
Operational upside potential through RUBS implementation, expense recapture, and strategic interior upgrades.

Overview

This multifamily investment opportunity features 39 units across two properties located directly across the street from one another: 2401 Clinton (17 units) and 2323 Clinton (22 units). The properties are situated in a walkable South Minneapolis location, with convenient access to Downtown Minneapolis, Eat Street, MCAD, and the Minneapolis Institute of Art. Located directly on a bus line, the properties also offer convenient access to Uptown and the Midtown Greenway. The unit mix consists of 8 studios and 31 one-bedroom units. The properties are currently 100% occupied. 2323 Clinton has covered parking. The total property size is 18894 square feet. Operational upside exists through RUBS implementation or optimization, expense recapture, and strategic interior upgrades upon turnover. The side-by-side positioning of the two properties facilitates ease of management.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$492.0k	$26.04
− Vacancy	−$31.0k	−$1.64
EGI	$461.0k	$24.40
− OpEx	−$207.5k	−$10.98
NOI	$253.6k	$13.42

18,894 SF · lease $26.04/SF/yr · vacancy 6.30% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$3.62M

$3.17M – $4.23M (±1% cap)

NOI $253,552 @ 7.0% cap · market cap 6.50%

Second Best

—

no second resolved use

Theoretical Best

Office A

$4.51M

$3.94M – $5.26M (±1% cap)

NOI $315,540 @ 7.0% cap · market cap 8.09%

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

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Minneapolis
County: Anoka
State: Minnesota
Longitude: -93.2711337
Latitude: 44.9594207

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For sale
Apartment buildings
MN
Minneapolis
55404
2323 Clinton Ave

What type of property is this?

Apartment building - 39 units, 100% occupied, walkable location near downtown Minneapolis.

Where is this apartment building located?

The property is located at 2323 Clinton Ave Minneapolis, MN.

What is the asking price?

The asking price for this property is $3,900,000.

What are key features of this property?

This property features: 100% Occupied, providing immediate cash flow.; 39‑unit multifamily portfolio with a desirable mix of studios and one‑bedroom units.; Prime location in South Minneapolis, walkable to Downtown, Eat Street, MCAD, and the Minneapolis Institute of Art.