3429 Aldrich Avenue S, Minneapolis, MN 55408
MULTI_FAMILY - Minneapolis, MN
- Added:
- Jun 10, 2026
- Days on Market:
- 26
- Last Refresh:
- Jul 5 at 11:06 pm
Property Features for 3429 Aldrich Avenue S
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Basement, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1
- Exterior features
- Stucco
- Fencing
- Chain Link
- Standard status
- Active
- APN
- 0402824410088
- Size
- 1,623 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 9548
Utilities
- Heating system
- Baseboard
Building Details
- Year built
- 1900
- Building materials
- Frame, Stone
- Roof type
- Shingle
Listing agent Kyle Babcock License #20453078 (952) 829-2900
Listing office RE/MAX Results 604 Bielenberg Dr No. 100, Eden Prairie, MN (651) 735-1350
Listing date Jun 10, 2026
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.
HighLights
- South Uptown duplex with updated open floor plans in both units
- Main‑level unit: 2 bedrooms and 1 bath; upper unit: 1 bedroom and 1 bath
- Renovated kitchens in both units with brand‑new cabinets and appliances
- Separate washer/dryer sets in each unit; new windows and freshly painted front and back porches
- Mechanical setup includes split electrical utilities with individual 100‑amp panels
- Roof replaced in 2025; frame and stone exterior with stucco and shingle roof
Overview
The property is located in a highly walkable neighborhood in Minneapolis, MN, near local parks, shops, restaurants, and Bde Maka Ska. Everyday destinations are described as within walking distance, which may appeal to tenants seeking convenience without relying on a vehicle.
As a for-sale duplex, the unit mix supports owner-occupants who want to live in one unit while renting the other, as well as investors looking for a clean, updated residential income property. Separate electrical service and in-unit laundry can help simplify occupancy and reduce friction between households. With major updates already completed, the asset may be well-suited for buyers seeking a ready-to-rent configuration.
Local Financial Insights For Multifamily LT 5
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 | $36.0k | $22.20 |
| − Vacancy | −$2.2k | −$1.33 |
| EGI | $33.9k | $20.87 |
| − OpEx | −$10.2k | −$6.26 |
| NOI | $23.7k | $14.61 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Minneapolis
- County
- Anoka
- State
- Minnesota
- Longitude
- -93.289116
- Latitude
- 44.940331
