Residential Income
2824 Pillsbury Avenue S Minneapolis, MN 55408
For Sale
$610,000
MULTI_FAMILY - Minneapolis, MN
Property Size2,720 SF
Lot Size0.09 Acres
Price / SF$224.26
Days on Market201
Property Features for 2824 Pillsbury Avenue S
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Bathroom 1, Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 4, Basement, Bedroom 1, Bathroom 3, Bathroom 2
- Exterior features
- Stucco
- Fencing
- Chain Link
- Standard status
- Active
- APN
- 3402924340052
- Size
- 2,720 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 9815
Utilities
- Heating system
- Hot Water(Heating)
Building Details
- Year built
- 1906
- Roof type
- Rubber
Listing Agency:
Northstar Real Estate Associates
(651) 451-2850
Listed By:
Mohamed Abdulle
(651) 451-2850
Added: Jan 7
Changed: Jul 21
Last Checked: Jul 27 at 1:06AM
MLS# 7003983
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 residential income duplex is offered for sale as a multifamily property type. The building totals 2,720 square feet and sits on a 0.09-acre lot.
The property is located at 2824 Pillsbury Avenue S in Minneapolis, MN 55408, within Hennepin County.
The property is located at 2824 Pillsbury Avenue S in Minneapolis, MN 55408, within Hennepin County.
Key Highlights
- Year built: 1906
- Stucco exterior
- Roof type: rubber
Financial Insights For Multifamily LT 5
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 | $60.4k | $22.20 |
| − Vacancy | −$3.6k | −$1.33 |
| EGI | $56.8k | $20.87 |
| − OpEx | −$17.0k | −$6.26 |
| NOI | $39.7k | $14.61 |
2,720 SF · lease $22.20/SF/yr · vacancy 5.98% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$567.7K
$496.8K – $662.4K
NOI $39,741 @ 7.0% cap · market cap 6.51%
Second Best
Apartment 5plus
$521.5K
$456.3K – $608.4K
NOI $36,502 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$648.9K
$567.8K – $757.1K
NOI $45,425 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - For sale residential income duplex in Minneapolis with 2,720 square feet on a 0.09-acre lot.
Where is this duplex located?
The property is located at 2824 Pillsbury Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $610,000.
What are key features of this property?
This property features: Year built: 1906; Stucco exterior; Roof type: rubber
