Four-Unit Property with Finished
For Sale
$569,900
2507 Lyndale Ave S, Minneapolis, MN 55405
CM2-zoned fourplex with flexible month-to-month occupancy and an attic area requiring a kitchen addition for unit conversion.
Property Size3,308 SF
Price / SF$172.28
Days on Market82
Property Features for 2507 Lyndale Ave S
General Information
Standard status
Active
Size
3,308 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Zoning
CM2
Occupancy
100%
Additional Details
Road Access
Yes
Multifamily Units
4
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty - Lakes
Listed By:
Christian Knudson
(612) 387-1493
Source:
Brickandbanister
Added: Jul 30
Changed: Oct 8
Last Checked: Oct 7 at 3:38PM
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 Coldwell Banker Realty - Lakes
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Investment Insights
Based on property information with market context.
This fourplex, built in 1900, contains 3,308 square feet and includes four residential units plus an 899-square-foot finished attic. The largest unit exceeds 1,100 square feet and offers two bedrooms, an office, hardwood floors, high ceilings, built-ins, and separate front and rear entrances. A single-car garage is also included, and a rear staircase was completed in July 2025.
The property is zoned CM2, Minneapolis's Corridor Mixed Use District. The first level may support exploration of small-business use while residential units remain above, subject to city regulations and required approvals. Converting the finished attic into a fifth unit would require adding a kitchen and would change the property's status from residential to commercial with the City of Minneapolis.
All units are leased on a month-to-month basis, providing flexibility for future ownership and management decisions.
The property is zoned CM2, Minneapolis's Corridor Mixed Use District. The first level may support exploration of small-business use while residential units remain above, subject to city regulations and required approvals. Converting the finished attic into a fifth unit would require adding a kitchen and would change the property's status from residential to commercial with the City of Minneapolis.
All units are leased on a month-to-month basis, providing flexibility for future ownership and management decisions.
Key Highlights
- Fourplex with 3,308 square feet and an 899‑square‑foot finished attic
- CM2 zoning: Corridor Mixed Use District
- Largest unit exceeds 1,100 square feet with 2 bedrooms and an office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,332
Cap Rate
8.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$966,640
$966.6K
Cap Rate 7%
$690,457
$690.5K
Cap Rate 9%
$537,022
$537.0K
Market Conditions
NOI Build-Up for 3,308 SF
Gross rent
$73.4K $22.20/SF
− Vacancy
−$4.4K −$1.33/SF
EGI
$69.0K $20.87/SF
− OpEx
−$20.7K −$6.26/SF
NOI
$48.3K $14.61/SF
Area
Minneapolis, MN
Vacancy
5.98%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$966,640
Cap Rate 7%
$690,457
Cap Rate 9%
$537,022
Alternative Uses
Best Use
Multifamily LT 5
$690.5K
$604.2K – $805.5K
NOI $48,332 @ 7.0% cap · market cap 8.48%
Second Best
Apartment 5plus
$634.2K
$554.9K – $739.9K
NOI $44,392 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$789.2K
$690.6K – $920.8K
NOI $55,245 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,088
Businesses Nearby
Explore this area
Business Placement
Demographics for 55405, MN
15,497
Population
8,724
Households
1.8
Avg Household Size
34
Median Age
59%
College-Educated
95%
High-School Grad
2.8 sq mi
ZIP Area
5,535
Density / Sq Mi
$70,425
Median Household Income
$47,271
Median Earnings
$1,188
Median Rent
$450,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - CM2-zoned fourplex with flexible month-to-month occupancy and an attic area requiring a kitchen addition for unit conversion.
Where is this quadplex located?
The property is located at 2507 Lyndale Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $569,900.
What are key features of this property?
This property features: Fourplex with 3,308 square feet and an 899‑square‑foot finished attic; CM2 zoning: Corridor Mixed Use District; Largest unit exceeds 1,100 square feet with 2 bedrooms and an office
