Triplex with Detached
New
For Sale
$750,000
3411 Pillsbury Avenue S, Minneapolis, MN 55408
Residential Income, Minneapolis, MN
Property Size4,861 SF
Lot Size0.15 Acres
Price / SF$154.29
Days on Market4
Property Features for 3411 Pillsbury Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
Residential-Multi-Family
Bedrooms
9
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 1, Laundry Room, Basement, Bedroom 9, Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Bathroom 4, Bedroom 8, Bedroom 7, Bathroom 3, Bedroom 6
Parking features
Driveway, Garage - Detached
Subdivision
Park Add
High school district
Minneapolis
Directions
LYNDALE SO TO 36 EAST TO PILLSBURY N TO HOME
Standard status
Active
APN
0302824310065
Size
4,861 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10563
Utilities
Heating system
Forced Air
Amenities
coin-operated laundry
central air conditioning
rain gardens
Building Details
Year built
1922
Listing Agency:
Keller Williams Realty Integrity Lakes
Listed By:
Claire Louise Johnston
(612) 821-7400
Added: Oct 22
Changed: Oct 25
Last Checked: Oct 25 at 6:06PM
MLS# 7145728
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.
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Investment Insights
Based on property information with market context.
Built in 1922, this 4,861-square-foot triplex includes a non-conforming fourth unit. The main- and second-floor apartments each have three-bedroom layouts, while every unit includes a sunroom; the main-floor apartment has two. Updated tiled bathrooms and central AC serve the units. A coin-operated laundry room is located in the basement of the house.
The 0.15-acre property also has an oversized detached garage with four vehicle bays and a full basement, plus a long driveway for additional off-street parking. Hola Arepa, Five Watt Coffee, and the Chain of Lakes are within walking distance. The block has no through traffic.
The 0.15-acre property also has an oversized detached garage with four vehicle bays and a full basement, plus a long driveway for additional off-street parking. Hola Arepa, Five Watt Coffee, and the Chain of Lakes are within walking distance. The block has no through traffic.
Key Highlights
- Triplex with a non‑conforming fourth unit
- 4,861‑square‑foot property on 0.15 acres
- Built in 1922; central AC and updated tiled bathrooms
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
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Coin-operated laundry and a separate garage with its own basement add practical features to the property.
Where is this triplex located?
The property is located at 3411 Pillsbury Avenue 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: Triplex with a non‑conforming fourth unit; 4,861‑square‑foot property on 0.15 acres; Built in 1922; central AC and updated tiled bathrooms
