11-Unit Residential Apartment
For Sale
$1,125,000
3010 20th Ave S, Minneapolis, MN 55407
11 one-bedroom, one-bath units in an all-residential multifamily building near Lake Street/Midtown light rail.
Property Size7,344 SF
Price / SF$153.19
Days on Market128
Property Features for 3010 20th Ave S
General Information
Standard status
Active
Size
7,344 SF
Site & Location
Neighborhood
Powderhorn
Additional Details
Multifamily Units
11
Building Details
Year Built
1960
Listing Agency:
Commercial Investors Group LLC
Listed By:
Mike Sowers · License #40571176
(612) 598-0780
Source:
Bradadamrealty
Added: Jun 25
Changed: Oct 25
Last Checked: Oct 7 at 3:59PM
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 Commercial Investors Group LLC
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Investment Insights
Based on property information with market context.
3010 20th Avenue South is an 11-unit multifamily apartment building in Minneapolis’ Corcoran neighborhood. The property offers a uniform unit mix of 1BR/1BA layouts, which can simplify day-to-day operations and resident turnover management.
The building is located about 0.3 miles from the Lake Street/Midtown Station light rail, providing direct connections to Downtown Minneapolis and MSP Airport without a car. Several parks are within 1.1 miles, including Powderhorn Park, and multiple shopping destinations are within walking distance, including Midtown Global Market.
With a consistent residential configuration and an emphasis on updates during unit turns, the property is positioned for straightforward maintenance and leasing operations in a transit-connected, south Minneapolis submarket.
The building is located about 0.3 miles from the Lake Street/Midtown Station light rail, providing direct connections to Downtown Minneapolis and MSP Airport without a car. Several parks are within 1.1 miles, including Powderhorn Park, and multiple shopping destinations are within walking distance, including Midtown Global Market.
With a consistent residential configuration and an emphasis on updates during unit turns, the property is positioned for straightforward maintenance and leasing operations in a transit-connected, south Minneapolis submarket.
Key Highlights
- 11‑unit multifamily property with a uniform unit mix of 1BR/1BA units
- Built in 1960, all‑residential multifamily building
- Located 0.3 miles from the Lake Street/Midtown Station light rail for access to Downtown Minneapolis and MSP Airport without a car
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$98,554
Cap Rate
8.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,971,080
$2.0M
Cap Rate 7%
$1,407,914
$1.4M
Cap Rate 9%
$1,095,044
$1.1M
Market Conditions
NOI Build-Up for 7,344 SF
Gross rent
$191.2K $26.04/SF
− Vacancy
−$12.0K −$1.64/SF
EGI
$179.2K $24.40/SF
− OpEx
−$80.6K −$10.98/SF
NOI
$98.6K $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%
$1,971,080
Cap Rate 7%
$1,407,914
Cap Rate 9%
$1,095,044
Alternative Uses
Best Use
Apartment 5plus
$1.41M
$1.23M – $1.64M
NOI $98,554 @ 7.0% cap · market cap 8.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,649 @ 7.0% cap · market cap 10.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
11
Residential units
Location Intelligence
Trade Area within ½ mile
1,610
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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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?
Apartment building - 11 one-bedroom, one-bath units in an all-residential multifamily building near Lake Street/Midtown light rail.
Where is this apartment building located?
The property is located at 3010 20th Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: 11‑unit multifamily property with a uniform unit mix of 1BR/1BA units; Built in 1960, all‑residential multifamily building; Located 0.3 miles from the Lake Street/Midtown Station light rail for access to Downtown Minneapolis and MSP Airport without a car
