Two-Story Multifamily
3021 Longfellow Ave S, Minneapolis, MN 55407
A 12-unit, two-story brick and stucco property near transit and major employment centers for long-term rental demand.
Type:Multifamily
Property size:
5,040 SFPrice / SF:
$243/SF- Added:
- Jun 19, 2026
- Days on Market:
- 9
- Last Refresh:
- Jun 24 at 5:19 am
Property Features for 3021 Longfellow Ave S
General Information
- Standard status
- Active
- Size
- 5,040 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1962
Listing office Commercial Investors Group
Listing date Jun 19, 2026
Source Crexi
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
HighLights
- 12‑unit multifamily property built in 1962 with a two‑story brick and stucco exterior
- Large lot in Minneapolis south side Corcoran neighborhood
- Lake Street/Midtown Station light rail is 0.4 miles away for convenient access for tenants
- Downtown Minneapolis and MSP Airport are within easy reach for car‑free commuting
- Five parks within 1.1 miles, including Corcoran Park and Powderhorn Park
- Augsburg College, North Central University, and Abbott Northwestern Hospital are within minutes
Overview
This offering presents a 12-unit multifamily building built in 1962, arranged as a two-story brick and stucco structure on a large lot. The property is positioned for a straightforward acquisition in an established south Minneapolis setting, with the seller describing stable in-place cash flow and a clear value-add path on turns.
The building is located in the Corcoran neighborhood on Minneapolis’s south side. Lake Street/Midtown Station light rail is approximately 0.4 miles away, supporting tenant access to Downtown Minneapolis and MSP Airport without a car. Several parks are within about 1.1 miles, including Powderhorn Park and Corcoran Park, and multiple shopping options are within roughly 0.8 miles.
From a renter-fit perspective, the area includes nearby higher education and healthcare institutions, with Augsburg College, North Central University, and Abbott Northwestern Hospital all within minutes. That mix of student and workforce housing demand can support leasing stability across a diverse tenant pool. For buyers looking to add a well-located, transit-connected asset to a south Minneapolis portfolio, this 12-unit building offers an efficient, low-complexity platform in a walkable, amenity-supported corridor.
The building is located in the Corcoran neighborhood on Minneapolis’s south side. Lake Street/Midtown Station light rail is approximately 0.4 miles away, supporting tenant access to Downtown Minneapolis and MSP Airport without a car. Several parks are within about 1.1 miles, including Powderhorn Park and Corcoran Park, and multiple shopping options are within roughly 0.8 miles.
From a renter-fit perspective, the area includes nearby higher education and healthcare institutions, with Augsburg College, North Central University, and Abbott Northwestern Hospital all within minutes. That mix of student and workforce housing demand can support leasing stability across a diverse tenant pool. For buyers looking to add a well-located, transit-connected asset to a south Minneapolis portfolio, this 12-unit building offers an efficient, low-complexity platform in a walkable, amenity-supported corridor.
Local Financial Insights For Apartment 5plus
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 | $131.2k | $26.04 |
| − Vacancy | −$8.3k | −$1.64 |
| EGI | $123.0k | $24.40 |
| − OpEx | −$55.3k | −$10.98 |
| NOI | $67.6k | $13.42 |
5,040 SF · lease $26.04/SF/yr · vacancy 6.30% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$966.2K
$845.4K – $1.13M
NOI $67,635 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,171 @ 7.0% cap · market cap 6.87%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Patricia Barry
Furniture & Home Goods
Location Insight
- Map
- Local Demand
- City
- Minneapolis
- County
- Anoka
- State
- Minnesota
- Longitude
- -93.2457703
- Latitude
- 44.9475792
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - A 12-unit, two-story brick and stucco property near transit and major employment centers for long-term rental demand.
Where is this apartment building located?
The property is located at 3021 Longfellow Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: 12‑unit multifamily property built in 1962 with a two‑story brick and stucco exterior; Large lot in Minneapolis south side Corcoran neighborhood; Lake Street/Midtown Station light rail is 0.4 miles away for convenient access for tenants
