Four-Plex Property with Off-Street
For Sale
$650,000
2740 Lyndale Avenue S, Minneapolis, MN 55408
Residential Income, Minneapolis, MN
Property Size2,856 SF
Lot Size0.11 Acres
Price / SF$227.59
Days on Market162
Property Features for 2740 Lyndale Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential-Multi-Family
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 6, Bathroom 2, Bedroom 2, Bedroom 8, Bedroom 7, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 4, Basement
Exterior features
Stucco
Subdivision
Lowry Hill East
High school district
Minneapolis
Directions
From Hennepin, Lake Street E to Lyndale N to property
Standard status
Active
APN
3302924410067
Size
2,856 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12285
Utilities
Heating system
Forced Air, Hot Water(Heating)
Building Details
Year built
1909
Building materials
Brick
Listing Agency:
National Realty Guild
(651) 330-8001
Listed By:
Su-Jingjing Brown
(651) 494-4000
Added: Mar 12
Changed: Aug 20
Last Checked: Aug 20 at 3:06PM
MLS# 7035375
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.
Investment Insights
Based on property information with market context.
This quadplex features four separate 2-bedroom units in a brick building with stucco exterior. The property was completely remodeled by the previous owner, including the roof, boilers, furnaces, and electrical work, with permits pulled. Heating is provided via hot water and forced air, and there are four separate boilers/furnaces for the units.
The building includes 8 off-street parking spots. Unit 2 is currently being held vacant for sale. Additional basement storage is available, including two large storage spaces with great ceiling height, and there is the possibility of additional units.
Built in 1909, the property offers a practical residential income setup with on-site parking and flexible basement storage space. Address: 2740 Lyndale Avenue S, Minneapolis, MN 55408 (Hennepin County).
The building includes 8 off-street parking spots. Unit 2 is currently being held vacant for sale. Additional basement storage is available, including two large storage spaces with great ceiling height, and there is the possibility of additional units.
Built in 1909, the property offers a practical residential income setup with on-site parking and flexible basement storage space. Address: 2740 Lyndale Avenue S, Minneapolis, MN 55408 (Hennepin County).
Key Highlights
- 2‑bedroom units throughout in a four‑plex configuration
- Building remodeled by previous owner: roof, boilers, furnaces, electrical (permits pulled)
- Four separate boilers/furnaces and hot water/forced air heating
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$41,728
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$834,560
$834.6K
Cap Rate 7%
$596,114
$596.1K
Cap Rate 9%
$463,644
$463.6K
Market Conditions
NOI Build-Up for 2,856 SF
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.
Gross rent
$63.4K $22.20/SF
− Vacancy
−$3.8K −$1.33/SF
EGI
$59.6K $20.87/SF
− OpEx
−$17.9K −$6.26/SF
NOI
$41.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$834,560
Cap Rate 7%
$596,114
Cap Rate 9%
$463,644
Alternative Uses
Best Use
Multifamily LT 5
$596.1K
$521.6K – $695.5K
NOI $41,728 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$547.5K
$479.1K – $638.8K
NOI $38,327 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$681.4K
$596.2K – $795.0K
NOI $47,697 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
4,058
Businesses Nearby
Explore this area
Business Placement
Demographics for 55408, MN
33,718
Population
17,874
Households
1.9
Avg Household Size
30
Median Age
59%
College-Educated
91%
High-School Grad
2.7 sq mi
ZIP Area
12,488
Density / Sq Mi
$72,421
Median Household Income
$49,753
Median Earnings
$1,385
Median Rent
$387,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-plex with 2-bedroom units, a remodeled building, basement storage, and 8 off-street parking spots.
Where is this quadplex located?
The property is located at 2740 Lyndale Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2‑bedroom units throughout in a four‑plex configuration; Building remodeled by previous owner: roof, boilers, furnaces, electrical (permits pulled); Four separate boilers/furnaces and hot water/forced air heating
