Whittier Neighborhood Updated
2530 1st Avenue S #N202 Minneapolis, MN 55404
For Sale
$107,000
Updated 1-bedroom condo in Whittier, close to Eat Street.
Property Size524 SF
Price / SF$204.20
Days on Market334
Property Features for 2530 1st Avenue S #N202
General Information
- Standard status
- Active
- Size
- 524 SF
- Property subtype
- Condominium
Building Details
- Year Built
- 1964
Listing Agency:
(612) 270-5234
Listed By:
Chris Lindgren · License #MN
(612) 270-5234
Source:
Kw
Added: Aug 25, 2025
Changed: Jul 6
Last Checked: Jul 23 at 7:03AM
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 Chris Lindgren
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 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 | $13.6k | $26.04 |
| − Vacancy | −$860 | −$1.64 |
| EGI | $12.8k | $24.40 |
| − OpEx | −$5.8k | −$10.98 |
| NOI | $7.0k | $13.42 |
524 SF · lease $26.04/SF/yr · vacancy 6.30% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
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.
