Whittier Five-Unit Multifamily
2420 4th Ave S, Minneapolis, MN 55404
Renovated five-unit building in high-demand Minneapolis neighborhood.
Type:Multifamily
Property size:
4,926 SFPrice / SF:
$154/SF- Added:
- Feb 27, 2026
- Days on Market:
- 129
- Last Refresh:
- Mar 17 at 1:16 pm
Property Features for 2420 4th Ave S
General Information
- Standard status
- Active
- Size
- 4,926 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1912
Listing office MRG Realty Partners
Listing date Feb 27, 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
- Fully renovated building with major systems recently replaced: roof (2024), furnaces (2018), and water heaters (2020).
- Prime location in high‑demand Whittier neighborhood, close to restaurants, arts, and major transportation routes (35W, 94, Uptown, Downtown).
- Four of the five units are desirable 2BR/1BA apartments with in‑unit washer/dryer, granite counters, gas stove, dishwasher, and central air.
- Turnkey investment opportunity with RUBS in place for partial utility recapture and locking basement storage for each unit.
- Includes a two‑car garage plus two off‑street surface parking spots.
- Fire sprinkler system throughout the building.
Overview
This five-unit building is located in Whittier, a high-demand renter neighborhood in Minneapolis. The property is situated in a walkable area, close to restaurants, the Minneapolis College of Art & Design, and the local arts scene, including the Minneapolis Institute of Art. Its central location provides convenient access to 35W, 94, Uptown, and Downtown. Four of the units are 2BR/1BA apartments featuring in-unit washer/dryer sets, granite counters, gas stoves, dishwashers, and central air. The building was fully renovated to code, and the major systems have been steadily replaced in the past 10 years: All Furnaces (2018) water heaters (2020), roof (2024) and updated electrical. The fifth unit, a large studio, was added in 2021. A fire sprinkler system is installed throughout the building. Parking includes a two-car garage and two off-street surface parking spots. A RUBS system is in place for partial utility recapture. Each unit has locking basement storage. The property size is 4926 square feet.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $128.3k | $26.04 |
| − Vacancy | −$8.1k | −$1.64 |
| EGI | $120.2k | $24.40 |
| − OpEx | −$54.1k | −$10.98 |
| NOI | $66.1k | $13.42 |
4,926 SF · lease $26.04/SF/yr · vacancy 6.30% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$944.4K
$826.3K – $1.10M
NOI $66,106 @ 7.0% cap · market cap 8.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,267 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Minneapolis
- County
- Anoka
- State
- Minnesota
- Longitude
- -93.2705852
- Latitude
- 44.958453
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Renovated five-unit building in high-demand Minneapolis neighborhood.
Where is this apartment building located?
The property is located at 2420 4th Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $760,000.
What are key features of this property?
This property features: Fully renovated building with **major systems recently replaced**: roof (2024), furnaces (2018), and water heaters (2020).; Prime location in high‑demand Whittier neighborhood, close to restaurants, arts, and major transportation routes (35W, 94, Uptown, Downtown).; Four of the five units are desirable 2BR/1BA apartments with **in‑unit washer/dryer, granite counters, gas stove, dishwasher, and central air.**
