Turnkey Two-Unit Duplex with Off-Street
For Sale
$349,000
3327 Oakland Avenue, Minneapolis, MN 55407
Residential Income, Minneapolis, MN
Property Size1,920 SF
Lot Size0.11 Acres
Price / SF$181.77
Days on Market111
Property Features for 3327 Oakland Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential-Multi-Family
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 4, Basement
Parking features
Driveway
Exterior features
Stucco
Fencing
Chain Link, Privacy
Subdivision
Nichols & Saegers Add
Lot features
Public Transit (w/in 6 blks)
High school district
Minneapolis
Directions
PORTLAND AVENUE SOUTH - EAST ON 34th STREET - LEFT TO OAKLAND
Standard status
Active
APN
0202824230151
Size
1,920 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4521
Utilities
Heating system
Other (Heating), Hot Water(Heating)
Amenities
hardwood floors
full basement
Building Details
Year built
1937
Building materials
Block, Frame
Roof type
Flat
Listing Agency:
Keller Williams Classic Rlty NW · Keller Williams Realty
(763) 463-7500
Listed By:
Tomas Rodrigo Leal
(763) 657-4444
Added: May 2
Changed: Aug 19
Last Checked: Aug 20 at 3:06PM
MLS# 7067303
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.
Turnkey two-unit duplex featuring hardwood floors and a full basement. The property is improved with stucco exterior materials and a flat roof. Both units are tenant-occupied on month-to-month leases, and tenants pay electricity and gas. Parking is provided via a driveway, with off-street parking for four vehicles.
Recent updates include flat roof repair in 2026, fresh paint, and updated window framing. The duplex was built in 1937, and the configuration includes bedrooms and bathrooms across the upper and lower units, along with basement space.
Located in Powderhorn/Central Minneapolis, the property is described as minutes from downtown, parks, transit, and I-35W, supporting a practical live-in or add-to-portfolio setup. Some photos have been virtually altered for presentation purposes.
Recent updates include flat roof repair in 2026, fresh paint, and updated window framing. The duplex was built in 1937, and the configuration includes bedrooms and bathrooms across the upper and lower units, along with basement space.
Located in Powderhorn/Central Minneapolis, the property is described as minutes from downtown, parks, transit, and I-35W, supporting a practical live-in or add-to-portfolio setup. Some photos have been virtually altered for presentation purposes.
Key Highlights
- Four‑car off‑street parking with driveway access
- Turnkey duplex with both units tenant‑occupied on month‑to‑month leases
- Flat roof repair completed in 2026 plus fresh paint and updated window framing
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,053
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$561,060
$561.1K
Cap Rate 7%
$400,757
$400.8K
Cap Rate 9%
$311,700
$311.7K
Market Conditions
NOI Build-Up for 1,920 SF
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.
Gross rent
$42.6K $22.20/SF
− Vacancy
−$2.5K −$1.33/SF
EGI
$40.1K $20.87/SF
− OpEx
−$12.0K −$6.26/SF
NOI
$28.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$561,060
Cap Rate 7%
$400,757
Cap Rate 9%
$311,700
Alternative Uses
Best Use
Multifamily LT 5
$400.8K
$350.7K – $467.6K
NOI $28,053 @ 7.0% cap · market cap 8.04%
Second Best
Apartment 5plus
$368.1K
$322.1K – $429.4K
NOI $25,766 @ 7.0% cap · market cap 7.38%
Theoretical Best
Office A
$458.1K
$400.8K – $534.4K
NOI $32,065 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,620
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Turnkey two-unit duplex with hardwood floors, full basement, and off-street parking, with both units tenant-occupied.
Where is this duplex located?
The property is located at 3327 Oakland Avenue Minneapolis, MN.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Four‑car off‑street parking with driveway access; Turnkey duplex with both units tenant‑occupied on month‑to‑month leases; Flat roof repair completed in 2026 plus fresh paint and updated window framing
