4-Unit Apartment
New
For Sale
$749,900
2549 11th Avenue S, Minneapolis, MN 55404
A basement laundry area supplements the four-unit property’s residential configuration.
Property Size3,822 SF
Price / SF$196.21
Days on Market5
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Property Features for 2549 11th Avenue S
General Information
Standard status
Active
Size
3,822 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Gross Income
$78,576
Multifamily Units
4
Amenities
coin-operated laundry
Building Details
Year Built
1902
Listing Agency:
Century 21 First Realty, Inc
Listed By:
The BPR Experience
(952) 992-9279
Source:
Thebprexperience
Added: Oct 11
Changed: Oct 15
Last Checked: Oct 14 at 10:32PM
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 Century 21 First Realty, Inc
Investment Insights
Based on property information with market context.
Built in 1902, this four-unit residential property contains 3,822 square feet above ground, with high ceilings and natural woodwork. An additional 1,458-square-foot basement includes coin-operated laundry. The property is 100% occupied.
At 2549 11th Avenue S in Minneapolis, the building is a few blocks from Abbott Northwestern Hospital, Midtown Global Market, and bike trails.
At 2549 11th Avenue S in Minneapolis, the building is a few blocks from Abbott Northwestern Hospital, Midtown Global Market, and bike trails.
Key Highlights
- Four residential units; 100% occupied
- 3,822 square feet above ground
- 1,458‑square‑foot basement with coin‑operated laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,842
Cap Rate
7.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,116,840
$1.1M
Cap Rate 7%
$797,743
$797.7K
Cap Rate 9%
$620,467
$620.5K
Market Conditions
NOI Build-Up for 3,822 SF
Gross rent
$84.8K $22.20/SF
− Vacancy
−$5.1K −$1.33/SF
EGI
$79.8K $20.87/SF
− OpEx
−$23.9K −$6.26/SF
NOI
$55.8K $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%
$1,116,840
Cap Rate 7%
$797,743
Cap Rate 9%
$620,467
Alternative Uses
Best Use
Multifamily LT 5
$797.7K
$698.0K – $930.7K
NOI $55,842 @ 7.0% cap · market cap 7.45%
Second Best
Apartment 5plus
$732.7K
$641.1K – $854.8K
NOI $51,290 @ 7.0% cap · market cap 6.84%
Theoretical Best
Office A
$911.8K
$797.9K – $1.06M
NOI $63,829 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
4,871
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?
Quadplex - A basement laundry area supplements the four-unit property’s residential configuration.
Where is this quadplex located?
The property is located at 2549 11th Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Four residential units; 100% occupied; 3,822 square feet above ground; 1,458‑square‑foot basement with coin‑operated laundry
