Minneapolis Multifamily Investment
2323 Clinton Ave, Minneapolis, MN 55404
Call to check price and availability
39 units, 100% occupied, walkable location near downtown Minneapolis.
Type:Multifamily
Property size:
18,894 SFPrice / SF:
$206/SF- Added:
- Mar 2, 2026
- Days on Market:
- 80
- Last Refresh:
- Mar 16 at 2:00 pm
Property Features for 2323 Clinton Ave
General Information
- Standard status
- Active
- Size
- 18,894 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1962
Listing agent Doug McNicoll License #40492260
Listing office MRG Realty Partners (651) 900-4386
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.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$2.82M
NOI $253,552 @ 9.00% cap · cautious / downside scenario
Moderate
$3.62M
NOI $253,552 @ 7.00% cap · market / base-case scenario
Aggressive
$5.07M
NOI $253,552 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| 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 Use Scenarios
Best Use
Apartment 5plus
$3.62M
$3.17M – $4.23M
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
NOI $315,540 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Minneapolis
- County
- Anoka
- State
- Minnesota
- Longitude
- -93.2711337
- Latitude
- 44.9594207
Nearby Similar for Sale
FAQs
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.
