Four-Unit Residential Income
2721 Columbus Avenue, Minneapolis, MN 55407
For Sale
$399,900
Residential Income, Minneapolis, MN
Property Size2,658 SF
Lot Size0.12 Acres
Price / SF$150.45
Days on Market66
Property Features for 2721 Columbus Avenue
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Fencing
Subdivision
Lot features
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Annual Amount
Amenities
hardwood floors
natural woodwork
solid-surface countertops
ranges
refrigerators
free laundry
Building Details
Year built
Listing Agency:
Keller Williams Realty Integrity Lakes
Listed By:
Timothy L Fisher · License MN #40696640
(612) 821-7400
Added: Sep 8
Changed: Nov 2
Last Checked: Nov 12 at 7:06AM
MLS# 7140287
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This four-unit residential property includes one one-bedroom apartment, one one-bedroom unit with a den, and two studios. Each apartment has a full bathroom and kitchen. Interior finishes include hardwood floors, natural woodwork, and solid-surface countertops, with a range and refrigerator in each unit. A shared full basement provides storage and free laundry for residents. The building dates to 1906 and contains 2,658 square feet on a 0.12-acre lot.
Four detached, single-stall garages provide off-street parking and may be leased separately. Recent work includes a new electrical main, boiler, and roofs on both the residence and garages. The property is in Minneapolis, near public transit, neighborhood businesses, dining, parks, and downtown.
Four detached, single-stall garages provide off-street parking and may be leased separately. Recent work includes a new electrical main, boiler, and roofs on both the residence and garages. The property is in Minneapolis, near public transit, neighborhood businesses, dining, parks, and downtown.
Key Highlights
- Four units: one 1‑bedroom, one 1‑bedroom plus den, and two studios
- 2,658 square feet on a 0.12‑acre lot; built in 1906
- Four detached single‑stall garages provide off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,670
Cap Rate
8.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$713,400
$713.4K
Cap Rate 7%
$509,571
$509.6K
Cap Rate 9%
$396,333
$396.3K
Market Conditions
NOI Build-Up for 2,658 SF
Gross rent
$69.2K $26.04/SF
− Vacancy
−$4.4K −$1.64/SF
EGI
$64.9K $24.40/SF
− OpEx
−$29.2K −$10.98/SF
NOI
$35.7K $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%
$713,400
Cap Rate 7%
$509,571
Cap Rate 9%
$396,333
Alternative Uses
Best Use
Multifamily LT 5
$554.8K
$485.4K – $647.3K
NOI $38,835 @ 7.0% cap · market cap 9.71%
Second Best
Apartment 5plus
$509.6K
$445.9K – $594.5K
NOI $35,670 @ 7.0% cap · market cap 8.92%
Theoretical Best
Office A
$634.1K
$554.9K – $739.8K
NOI $44,390 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
4,696
Businesses Nearby
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Business Placement
Demographics for 55407, MN
38,506
Population
15,979
Households
2.4
Avg Household Size
34
Median Age
48%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
9,627
Density / Sq Mi
$78,206
Median Household Income
$46,388
Median Earnings
$1,219
Median Rent
$317,000
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Minneapolis, MN
Properties on Market for Quadplexes in Minneapolis
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Four detached garages offer off-street parking, with separate leasing potential.
Where is this quadplex located?
The property is located at 2721 Columbus Avenue Minneapolis, MN.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Four units: one 1‑bedroom, one 1‑bedroom plus den, and two studios; 2,658 square feet on a 0.12‑acre lot; built in 1906; Four detached single‑stall garages provide off‑street parking
