Four-Unit Multifamily
For Sale
$825,000
3514 Grand Ave S, Minneapolis, MN 55408
All four units offer updated kitchens, baths, and in-unit laundry.
Property Size4,900 SF
Price / SF$168.37
Days on Market71
Property Features for 3514 Grand Ave S
General Information
Standard status
Active
Size
4,900 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Gross Income
$91,800
Public Transit
Yes
Multifamily Units
4
Amenities
modern kitchens
updated baths
in-unit laundry
Building Details
Year Built
2005
Listing Agency:
Real Broker, LLC
Listed By:
Shelbie Cox
(612) 360-0306
Source:
Searchhousesnow
Added: Aug 13
Changed: Oct 12
Last Checked: Oct 7 at 4:59PM
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 Real Broker, LLC
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Investment Insights
Based on property information with market context.
This 4,900-square-foot quadplex was constructed in 2005 and contains four units. Each residence includes a modern kitchen, updated bathroom, and in-unit laundry. The property is legally non-conforming and has recorded zero vacancies over the past five years.
Located at 3514 Grand Ave S in Minneapolis, the property is within walking distance of Uptown restaurants, retail, and transit. Water can be separately metered so residents pay for their own usage, providing an identified operating expense adjustment. The asset also has an established rental history and current occupancy across all four units.
Located at 3514 Grand Ave S in Minneapolis, the property is within walking distance of Uptown restaurants, retail, and transit. Water can be separately metered so residents pay for their own usage, providing an identified operating expense adjustment. The asset also has an established rental history and current occupancy across all four units.
Key Highlights
- 4,900 SF quadplex constructed in 2005
- Four units with modern kitchens, updated baths, and in‑unit laundry
- Zero vacancies reported over five years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,592
Cap Rate
8.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,431,840
$1.4M
Cap Rate 7%
$1,022,743
$1.0M
Cap Rate 9%
$795,467
$795.5K
Market Conditions
NOI Build-Up for 4,900 SF
Gross rent
$108.8K $22.20/SF
− Vacancy
−$6.5K −$1.33/SF
EGI
$102.3K $20.87/SF
− OpEx
−$30.7K −$6.26/SF
NOI
$71.6K $14.61/SF
Area
Minneapolis, MN
Vacancy
5.98%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,431,840
Cap Rate 7%
$1,022,743
Cap Rate 9%
$795,467
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$894.9K – $1.19M
NOI $71,592 @ 7.0% cap · market cap 8.68%
Second Best
Apartment 5plus
$939.4K
$822.0K – $1.10M
NOI $65,757 @ 7.0% cap · market cap 7.97%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,833 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,131
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - All four units offer updated kitchens, baths, and in-unit laundry.
Where is this quadplex located?
The property is located at 3514 Grand Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 4,900 SF quadplex constructed in 2005; Four units with modern kitchens, updated baths, and in‑unit laundry; Zero vacancies reported over five years
