Residential Income Property with Walk-Out
For Sale
$849,900
3412 Humboldt Avenue S, Minneapolis, MN 55408
Multi-family zoning and finished walk-out access support the property’s residential income use.
Property Size6,300 SF
Price / SF$163.60
Days on Market90
Property Features for 3412 Humboldt Avenue S
General Information
Standard status
Active
Size
6,300 SF
Property subtype
Residential Income
Zoning
Residential-Multi-Family
Taxes and HOA fees
Annual Taxes
$16,012
Amenities
Coin Laundry
Natural Gas
Walk-Out Access, Finished
Partial, Split Rail
Asphalt, Garage Door Opener, Attached
Building Details
Building Size
6,300 SF
Year Built
1948
Listing Agency:
MOVE Real Estate
Listed By:
Thomas B Meckey
(612) 327-8303
Source:
Evrealestate
Added: Jul 10
Changed: Oct 6
Last Checked: Oct 7 at 12:58PM
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 MOVE Real Estate
Investment Insights
Based on property information with market context.
This residential income property in Minneapolis includes finished walk-out access and natural gas service. The property was built in 1948 and includes exterior features such as an asphalt surface, split-rail elements, an attached configuration, and a garage door opener.
The property is located at 3412 Humboldt Avenue S in Minneapolis, Hennepin County. Its Residential-Multi-Family zoning designation supports its classification as a residential income asset. Access is described from Hennepin Avenue via West 34th Street and Humboldt Avenue S.
The property is located at 3412 Humboldt Avenue S in Minneapolis, Hennepin County. Its Residential-Multi-Family zoning designation supports its classification as a residential income asset. Access is described from Hennepin Avenue via West 34th Street and Humboldt Avenue S.
Key Highlights
- Residential‑Multi‑Family zoning
- Finished walk‑out access
- Natural gas service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,715
Cap Rate
8.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,394,300
$1.4M
Cap Rate 7%
$995,929
$995.9K
Cap Rate 9%
$774,611
$774.6K
Market Conditions
NOI Build-Up for 5,195 SF
Gross rent
$135.3K $26.04/SF
− Vacancy
−$8.5K −$1.64/SF
EGI
$126.8K $24.40/SF
− OpEx
−$57.0K −$10.98/SF
NOI
$69.7K $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%
$1,394,300
Cap Rate 7%
$995,929
Cap Rate 9%
$774,611
Alternative Uses
Best Use
Apartment 5plus
$995.9K
$871.4K – $1.16M
NOI $69,715 @ 7.0% cap · market cap 8.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.08M – $1.45M
NOI $86,759 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,866
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Multi-family zoning and finished walk-out access support the property’s residential income use.
Where is this residential income property located?
The property is located at 3412 Humboldt Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Residential‑Multi‑Family zoning; Finished walk‑out access; Natural gas service
