Five-Unit Multifamily
2445 Aldrich Avenue S Minneapolis, MN 55405
For Sale
$1,095,000
Four 2-bedroom units plus one top-floor 4-bedroom unit with remodeled interiors and porches.
Property Size7,253 SF
Price / SF$150.97
Days on Market17
Property Features for 2445 Aldrich Avenue S
General Information
Standard status
Active
Size
7,253 SF
Property subtype
Commercial
Building Details
Year Built
1911
Listing Agency:
Pemberton RE
(612) 743-2975
Listed By:
Nathan J Labatt
(612) 743-2975
Source:
Juverealestate
Added: Jul 13
Changed: Jul 26
Last Checked: Jul 28 at 6:48PM
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 Pemberton RE
Investment Insights
Based on property information with market context.
This five-unit multifamily building features four 2-bedroom, 1-bath units and one spacious 4-bedroom, 1-bath unit on the top floor. Units include original hardwood floors and built-ins, and all units were remodeled within the last 10–12 years. The property also offers inviting front and back porches that add outdoor living space.
Located at 2445 Aldrich Avenue S in Minneapolis, the building is situated just minutes from Uptown, Downtown Minneapolis, and the Chain of Lakes. Residents benefit from convenient access to public transportation and major roadways, with nearby recreation and dining options including Lake of the Isles, Bde Maka Ska, and the Midtown Greenway.
Located at 2445 Aldrich Avenue S in Minneapolis, the building is situated just minutes from Uptown, Downtown Minneapolis, and the Chain of Lakes. Residents benefit from convenient access to public transportation and major roadways, with nearby recreation and dining options including Lake of the Isles, Bde Maka Ska, and the Midtown Greenway.
Key Highlights
- Five‑unit multifamily built in 1911 with four 2BR/1BA units and one top‑floor 4BR/1BA unit
- Original hardwood floors and built‑ins in the building
- All units remodeled within the last 10–12 years
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 | $188.9k | $26.04 |
| − Vacancy | −$11.9k | −$1.64 |
| EGI | $177.0k | $24.40 |
| − OpEx | −$79.6k | −$10.98 |
| NOI | $97.3k | $13.42 |
7,253 SF · lease $26.04/SF/yr · vacancy 6.30% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.39M
$1.22M – $1.62M
NOI $97,333 @ 7.0% cap · market cap 8.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $121,129 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Four 2-bedroom units plus one top-floor 4-bedroom unit with remodeled interiors and porches.
Where is this apartment building located?
The property is located at 2445 Aldrich Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Five‑unit multifamily built in 1911 with four 2BR/1BA units and one top‑floor 4BR/1BA unit; Original hardwood floors and built‑ins in the building; All units remodeled within the last 10–12 years
