Triplex with On-Site
2834 15th Avenue S, Minneapolis, MN 55407
For Sale
$484,900
Three residential units occupy a 2,850-square-foot building with a parking lot.
Property Size3,250 SF
Price / SF$170.14
Days on Market80
Property Features for 2834 15th Avenue S
General Information
Standard status
Size
Property subtype
Zoning
Net Operating Income
Site & Location
Neighborhood
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
Natural Gas, Forced Air
Block, Unfinished
Parking Lot
Building Details
Building Size
Year Built
Listed By:
Grigoriy Gorshteyn
(952) 220-0861
Source:
Evrealestate
Added: Aug 27
Changed: Nov 11
Last Checked: Nov 12 at 7:38AM
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 Grigoriy Gorshteyn
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Investment Insights
Based on property information with market context.
This triplex contains three residential units within a 2,850-square-foot building constructed in 1900. The property has natural gas and forced-air heating, along with block construction and unfinished interior space. A parking lot provides on-site parking.
The building is located at 2834 15th Avenue S in Minneapolis, Minnesota, and is zoned Residential-Multi-Family.
The building is located at 2834 15th Avenue S in Minneapolis, Minnesota, and is zoned Residential-Multi-Family.
Key Highlights
- Three‑unit residential property
- 2,850‑square‑foot building
- Constructed in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,641
Cap Rate
8.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$832,820
$832.8K
Cap Rate 7%
$594,871
$594.9K
Cap Rate 9%
$462,678
$462.7K
Market Conditions
NOI Build-Up for 2,850 SF
Gross rent
$63.3K $22.20/SF
− Vacancy
−$3.8K −$1.33/SF
EGI
$59.5K $20.87/SF
− OpEx
−$17.8K −$6.26/SF
NOI
$41.6K $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%
$832,820
Cap Rate 7%
$594,871
Cap Rate 9%
$462,678
Alternative Uses
Best Use
Multifamily LT 5
$594.9K
$520.5K – $694.0K
NOI $41,641 @ 7.0% cap · market cap 8.59%
Second Best
Apartment 5plus
$546.4K
$478.1K – $637.4K
NOI $38,246 @ 7.0% cap · market cap 7.89%
Theoretical Best
Office A
$680.0K
$595.0K – $793.3K
NOI $47,597 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,159
Businesses Nearby
Explore this area
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
$317,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Minneapolis, MN
Properties on Market for Triplexes in Minneapolis
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units occupy a 2,850-square-foot building with a parking lot.
Where is this triplex located?
The property is located at 2834 15th Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $484,900.
What are key features of this property?
This property features: Three‑unit residential property; 2,850‑square‑foot building; Constructed in 1900
