Multifamily Building Across from
3400 10th Ave S, Minneapolis, MN 55407
12-unit multifamily building built in 1966 with direct access to Powderhorn Park tennis courts and green space.
Type:Multifamily
Property size:
7,208 SFPrice / SF:
$176/SF- Added:
- Jun 10, 2026
- Days on Market:
- 18
- Last Refresh:
- Jun 20 at 4:19 am
Property Features for 3400 10th Ave S
General Information
- Standard status
- Active
- Size
- 7,208 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1966
Listing office Commercial Investors Group
Listing date Jun 10, 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 building built in 1966
- Directly across from Powderhorn Park tennis courts and green space
- Downtown Minneapolis is about 3 miles north
- Three shopping centers within 1.2 miles
- Near multiple campuses and employers: North Central University, Augsburg College, and Abbott Northwestern Hospital
- Value‑add program on unit turns to target rent increases on top of stable in‑place cash flow
Overview
3400 10th Ave S is a 12-unit multifamily asset built in 1966, offered for sale as a straightforward income property. The building’s configuration supports a classic apartment investment approach, with multiple on-site rental units under one ownership structure.
The property is located in Minneapolis’ Powderhorn Park neighborhood on the South Side and sits directly across from Powderhorn Park’s tennis courts and green space. Several shopping centers are within 1.2 miles, and bike trails and neighborhood dining are described as immediately accessible. Downtown Minneapolis is approximately three miles to the north, and multiple schools and a major medical employer—North Central University, Augsburg College, and Abbott Northwestern Hospital—are identified as within minutes.
For tenants, the setting offers immediate park access and nearby everyday destinations, with proximity to education and healthcare employment that may support a range of renter profiles. For buyers, the asset provides a 12-unit platform in an established, primarily residential submarket, with an operating base created by the existing in-place apartment units.
The property is located in Minneapolis’ Powderhorn Park neighborhood on the South Side and sits directly across from Powderhorn Park’s tennis courts and green space. Several shopping centers are within 1.2 miles, and bike trails and neighborhood dining are described as immediately accessible. Downtown Minneapolis is approximately three miles to the north, and multiple schools and a major medical employer—North Central University, Augsburg College, and Abbott Northwestern Hospital—are identified as within minutes.
For tenants, the setting offers immediate park access and nearby everyday destinations, with proximity to education and healthcare employment that may support a range of renter profiles. For buyers, the asset provides a 12-unit platform in an established, primarily residential submarket, with an operating base created by the existing in-place apartment units.
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 | $187.7k | $26.04 |
| − Vacancy | −$11.8k | −$1.64 |
| EGI | $175.9k | $24.40 |
| − OpEx | −$79.1k | −$10.98 |
| NOI | $96.7k | $13.42 |
7,208 SF · lease $26.04/SF/yr · vacancy 6.30% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.38M
$1.21M – $1.61M
NOI $96,729 @ 7.0% cap · market cap 7.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.72M
$1.50M – $2.01M
NOI $120,378 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Minneapolis
- County
- Anoka
- State
- Minnesota
- Longitude
- -93.2604073
- Latitude
- 44.9411297
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 12-unit multifamily building built in 1966 with direct access to Powderhorn Park tennis courts and green space.
Where is this apartment building located?
The property is located at 3400 10th Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: 12‑unit multifamily building built in 1966; Directly across from Powderhorn Park tennis courts and green space; Downtown Minneapolis is about 3 miles north
