Triplex with Detached Four-Car
3411 Pillsbury Ave S, Minneapolis, MN 55408
For Sale
$750,000
Residential units offer sunrooms, central air conditioning and updated tiled bathrooms.
Property Size4,861 SF
Price / SF$154.29
Days on Market16
Property Features for 3411 Pillsbury Ave S
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
sunroom
original hardwood floors
dining room built ins
updated tiled bathrooms
central AC
coin operated laundry
rain gardens
Listing Agency:
Keller Williams Realty Integrity Lakes
(612) 821-7400
Listed By:
Claire Louise Johnston
(507) 581-6811
Source:
Exprealty
Added: Oct 23
Changed: Oct 29
Last Checked: Nov 6 at 12:02PM
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 Keller Williams Realty Integrity Lakes
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Investment Insights
Based on property information with market context.
This 4,861-square-foot triplex includes three units and a non-conforming fourth unit in the basement. The main- and second-floor apartments each have three bedrooms, and every unit has a sunroom; the main-floor apartment has two. Original hardwood floors and built-in dining room cabinetry add period details. Bathrooms have updated tile, and all units have central air conditioning. The basement also contains coin-operated laundry.
A detached garage accommodates four cars and has its own full basement. The property also includes a long driveway and rain gardens. Located at 3411 Pillsbury Ave S in Minneapolis, the home is within walking distance of Hola Arepa, Five Watt Coffee and the Chain of Lakes.
A detached garage accommodates four cars and has its own full basement. The property also includes a long driveway and rain gardens. Located at 3411 Pillsbury Ave S in Minneapolis, the home is within walking distance of Hola Arepa, Five Watt Coffee and the Chain of Lakes.
Key Highlights
- 4,861‑square‑foot triplex with a non‑conforming fourth basement unit
- Three‑bedroom layouts on the main and second floors
- Sunrooms in every unit; two in the main‑floor apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,233
Cap Rate
8.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,304,660
$1.3M
Cap Rate 7%
$931,900
$931.9K
Cap Rate 9%
$724,811
$724.8K
Market Conditions
NOI Build-Up for 4,861 SF
Gross rent
$126.6K $26.04/SF
− Vacancy
−$8.0K −$1.64/SF
EGI
$118.6K $24.40/SF
− OpEx
−$53.4K −$10.98/SF
NOI
$65.2K $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%
$1,304,660
Cap Rate 7%
$931,900
Cap Rate 9%
$724,811
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$887.8K – $1.18M
NOI $71,023 @ 7.0% cap · market cap 9.47%
Second Best
Apartment 5plus
$931.9K
$815.4K – $1.09M
NOI $65,233 @ 7.0% cap · market cap 8.70%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,181 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,229
Businesses Nearby
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Business Placement
Demographics for 55408, MN
33,718
Population
17,874
Households
1.9
Avg Household Size
30
Median Age
59%
College-Educated
91%
High-School Grad
2.7 sq mi
ZIP Area
12,488
Density / Sq Mi
$72,421
Median Household Income
$49,753
Median Earnings
$1,385
Median Rent
$387,500
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Minneapolis, MN
Properties on Market for Triplexes in Minneapolis
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Residential units offer sunrooms, central air conditioning and updated tiled bathrooms.
Where is this triplex located?
The property is located at 3411 Pillsbury Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 4,861‑square‑foot triplex with a non‑conforming fourth basement unit; Three‑bedroom layouts on the main and second floors; Sunrooms in every unit; two in the main‑floor apartment
