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 Market412
Property Features for 2530 1st Avenue S #N202
General Information
Standard status
Active
Size
524 SF
Property subtype
Condominium
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 5
Last Checked: Oct 9 at 6:57PM
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
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.
Property Analytics
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Current Use
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
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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.
