Updated Duplex with Two-Car
3279 Library Lane, Saint Louis Park, MN 55426
- Added:
- Apr 8, 2026
- Days on Market:
- 84
- Last Refresh:
- Jun 30 at 3:06 am
Property Features for 3279 Library Lane
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Basement, Bathroom 3, Bedroom 3, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 4, Bedroom 1, Bedroom 5
- Parking features
- Garage - Detached
- Exterior features
- Brick/Stone, Cement Board
- Standard status
- Pending
- APN
- 1711721130120
- Size
- 3,012 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 9795
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1951
Listing agent Todd And April Ginsberg (952) 829-2900
Listing office RE/MAX Results 7700 France Ave S No. 230, Eden Prairie, MN (952) 884-8404
Listing date Apr 8, 2026
MLS# 7052145
Listing URL
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.
HighLights
- Duplex built in 1951 with forced‑air heating and a detached 2‑car garage
- One unit is vacant and move‑in ready; the lower unit is leased for $2,610 per month
- Newer siding with Versetta stone frontage and maintenance‑free exterior materials
- Whole‑house LeafGuard gutter system plus drain tile with sump pump
- Vinyl windows throughout, with many recently replaced
- Large backyard and updated interior features including updated kitchen spaces
Overview
This updated duplex offers two separate units with spacious, naturally lit living areas and updated kitchen spaces. The vacant upper unit occupies the entire top floor and includes two bedrooms. The lower unit is currently leased and features a distinctive two-level layout with three bedrooms, two bathrooms, a full kitchen, and an additional kitchenette for flexible living. Exterior improvements include newer siding with Versetta stone frontage, a maintenance-free exterior approach, a whole-house LeafGuard gutter system, and vinyl windows throughout with many recently replaced. Additional site and mechanical details include a large backyard, newer concrete, drain tile with a sump pump, and a detached two-car garage, along with an owner’s locker for tools and supplies.
The property is located on a quiet residential street in Saint Louis Park, with convenient highway access and service on the bus line. It is about a half block from the local library and close to neighborhood shopping and dining. It also sits near schools and is minutes from The Shops at West End, with nearby parks and golf courses.
This configuration supports a straightforward owner-occupant plan or an investment approach, with one unit move-in ready and the other unit currently producing monthly rental income. The combination of durable exterior updates, extensive interior refreshes, and a detached garage can appeal to buyers looking for a well-maintained duplex with practical day-to-day livability.
The property is located on a quiet residential street in Saint Louis Park, with convenient highway access and service on the bus line. It is about a half block from the local library and close to neighborhood shopping and dining. It also sits near schools and is minutes from The Shops at West End, with nearby parks and golf courses.
This configuration supports a straightforward owner-occupant plan or an investment approach, with one unit move-in ready and the other unit currently producing monthly rental income. The combination of durable exterior updates, extensive interior refreshes, and a detached garage can appeal to buyers looking for a well-maintained duplex with practical day-to-day livability.
Local 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 | $59.6k | $19.80 |
| − Vacancy | −$3.9k | −$1.29 |
| EGI | $55.8k | $18.51 |
| − OpEx | −$16.7k | −$5.55 |
| NOI | $39.0k | $12.96 |
3,012 SF · lease $19.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$557.6K
$487.9K – $650.6K
NOI $39,033 @ 7.0% cap · market cap 6.51%
Second Best
Apartment 5plus
$502.9K
$440.1K – $586.8K
NOI $35,205 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$718.6K
$628.8K – $838.4K
NOI $50,302 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Isalis
(Bike/Boat/Book/etc) Store
Party City
Party Supply Store
Skunk Funk
Big Box & Wholesale Store
Carl's Trading Co
Hat Shop
Bushka's Kitchen LLC
(Bike/Boat/Book/etc) Store
Location Insight
- Map
- Local Demand
- City
- Saint Louis Park
- County
- Hennepin
- State
- Minnesota
- Longitude
- -93.367119
- Latitude
- 44.943204
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - One duplex unit is vacant and ready to move in, while the lower unit is currently leased.
Where is this duplex located?
The property is located at 3279 Library Lane Saint Louis Park, MN.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Duplex built in 1951 with forced‑air heating and a detached 2‑car garage; One unit is vacant and move‑in ready; the lower unit is leased for $2,610 per month; Newer siding with Versetta stone frontage and maintenance‑free exterior materials
