Whittier Neighborhood Updated
For Sale
$107,000
2530 1st Avenue S #N202, Minneapolis, MN 55404
Updated 1-bedroom condo in Whittier, close to Eat Street.
Property Size524 SF
Price / SF$204.20
Days on Market427
Property Features for 2530 1st Avenue S #N202
General Information
Standard status
Active
Size
524 SF
Property subtype
Condominium
Site & Location
Neighborhood
Whittier
Amenities
Security System
Baseboard
Wall Unit(s)
Stainless Steel Appliances
Refrigerator
Range
Dishwasher
Age 8 Years or Less
Building Details
Building Size
524 SF
Year Built
1964
Listing Agency:
Minneapolis Lakes
Listed By:
Chris Lindgren · License #MN
(612) 270-5234
Source:
Kw
Added: Aug 25, 2025
Changed: Oct 21
Last Checked: Oct 24 at 9:38PM
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 Minneapolis Lakes
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Investment Insights
Based on property information with market context.
This updated, move-in ready condo features one bedroom and one bathroom in the Whittier neighborhood, steps from Eat Street and minutes from downtown Minneapolis. Converted from a mid-century building, the home offers an open floor plan with a spacious, light-filled living area, hardwood floors, and newer windows. The updated kitchen includes granite countertops, maple cabinets, and stainless steel appliances, including a dishwasher. The bedroom features a large closet and ample light, and the bathroom has been updated. A TV and sound bar are included. The unit includes a reserved off-street parking space close to the back entrance. The building provides shared laundry, indoor bike storage, and a newer roof. Between the two buildings, there is a dedicated outdoor common area with tables, grill stations, and a fire pit. The monthly association fee covers heat, internet, water/sewer, garbage, snow and lawn care, gas, and hazard insurance. Rentals and pets are allowed. Located centrally, the property offers easy access to I-35, major transit lines, and dining, coffee, and cultural destinations. Road improvements are planned to enhance convenience and property values. The property size is 524 square feet.
Key Highlights
- Prime Whittier location: Steps from Eat Street, Minneapolis Institute of Arts, and minutes to downtown.
- Updated with a MODERN KITCHEN featuring granite countertops, maple cabinets, and stainless steel appliances.
- Affordable association fee covers heat, internet, water/sewer, garbage, snow/lawn care, gas, and hazard insurance.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,032
Cap Rate
6.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$140,640
$140.6K
Cap Rate 7%
$100,457
$100.5K
Cap Rate 9%
$78,133
$78.1K
Market Conditions
NOI Build-Up for 524 SF
Gross rent
$13.6K $26.04/SF
− Vacancy
−$860 −$1.64/SF
EGI
$12.8K $24.40/SF
− OpEx
−$5.8K −$10.98/SF
NOI
$7.0K $13.42/SF
Area
Minneapolis, MN
Vacancy
6.30%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$140,640
Cap Rate 7%
$100,457
Cap Rate 9%
$78,133
Alternative Uses
Best Use
Apartment 5plus
$100.5K
$87.9K – $117.2K
NOI $7,032 @ 7.0% cap · market cap 6.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$125.0K
$109.4K – $145.9K
NOI $8,751 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
3,271
Businesses Nearby
Explore this area
Business Placement
Demographics for 55404, MN
29,322
Population
14,372
Households
2
Avg Household Size
32
Median Age
35%
College-Educated
81%
High-School Grad
1.8 sq mi
ZIP Area
16,290
Density / Sq Mi
$43,932
Median Household Income
$35,970
Median Earnings
$1,063
Median Rent
$294,200
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?
Apartment building - Updated 1-bedroom condo in Whittier, close to Eat Street.
Where is this apartment building located?
The property is located at 2530 1st Avenue S #N202 Minneapolis, MN.
What is the asking price?
The asking price for this property is $107,000.
What are key features of this property?
This property features: Prime Whittier location: Steps from Eat Street, Minneapolis Institute of Arts, and minutes to downtown.; Updated with a MODERN KITCHEN featuring granite countertops, maple cabinets, and stainless steel appliances.; Affordable association fee covers heat, internet, water/sewer, garbage, snow/lawn care, gas, and hazard insurance.
