2444 1st Avenue S, Minneapolis, MN 55404
MULTI_FAMILY - Minneapolis, MN
- Added:
- May 20, 2026
- Days on Market:
- 48
- Last Refresh:
- Jul 6 at 11:06 am
Property Features for 2444 1st Avenue S
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Basement, Bathroom 1, Bedroom 5, Bedroom 1, Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 3, Bathroom 3
- Parking features
- Covered
- Exterior features
- Wood
- Standard status
- Active
- APN
- 3402924130046
- Size
- 3,009 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 9040
Utilities
- Heating system
- Baseboard, Oil
Building Details
- Year built
- 1909
- Roof type
- Shingle
Listing agent Karen L Reid License #RA-20533107 (952) 829-2900
Listing office RE/MAX Results 2100 Ford Pkwy Suite 201, Eden Prairie, MN (651) 698-8006
Listing date May 20, 2026
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Fully rented triplex with an upper‑level artist studio for added living/working space
- Private parking in back with covered parking
- 1909 construction with wood exterior and shingle roof
- Baseboard heating with oil heat
- Layout includes 5 bedrooms and 3 bathrooms, plus a basement
Overview
The property is located at 2444 1st Avenue S in Minneapolis, MN 55404, in the Eat Street area on Nicollet. It is described as being steps from local coffee shops and close to MIA, with convenient access to 35W and downtown.
For tenants and buyers, this layout can appeal to those seeking income-producing housing alongside an on-site artist studio component. The private rear parking and walkable access to nearby neighborhood amenities can also improve day-to-day convenience for occupants. The combination of fully rented residential units and a dedicated upper-level creative space supports a practical live-work and multi-use ownership profile.
Local Financial Insights For Multifamily LT 5
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 | $66.8k | $22.20 |
| − Vacancy | −$4.0k | −$1.33 |
| EGI | $62.8k | $20.87 |
| − OpEx | −$18.8k | −$6.26 |
| NOI | $44.0k | $14.61 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Minneapolis
- County
- Anoka
- State
- Minnesota
- Longitude
- -93.276921
- Latitude
- 44.957615
