Renovated Six-Unit Apartment
3606 34th Street East Minneapolis, MN 55406
For Sale
Contact for pricing
Six-unit, all-brick, three-story building with five one-bedrooms and one studio, renovated kitchens and baths, and coin laundry.
Property Size5,500 SF
Price / SF$136.36
Days on Market80
Property Features for 3606 34th Street East
General Information
- Standard status
- Active
- Size
- 5,500 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1963
Listing Agency:
Apartment Cash Flow Inc.
(651) 263-3653
Listed By:
Nathan Opatz · License #MN #40329256
Source:
Crexi
Added: May 5
Changed: Jul 20
Last Checked: Jul 23 at 3:58PM
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 Apartment Cash Flow Inc.
Investment Insights
Based on property information with market context.
This six-unit, three-story all-brick apartment building has been recently renovated, with all new kitchens and bathrooms. The unit mix includes five one-bedroom units and one studio, and each unit has one full bathroom. The property is described as turn-key and is 100% fully rented, supported by on-site coin-operated laundry and a newer water heater and high-efficiency boiler.
The building sits on 0.13+ acres and includes an off-street parking lot. The reported stabilized in-place performance includes a cap rate of 8.63% and a gross rent multiplier of 7.94.
Rent roll information provided includes average one-bedroom rents of $1,296 and studio rent of $1,195.
The building sits on 0.13+ acres and includes an off-street parking lot. The reported stabilized in-place performance includes a cap rate of 8.63% and a gross rent multiplier of 7.94.
Rent roll information provided includes average one-bedroom rents of $1,296 and studio rent of $1,195.
Key Highlights
- Six‑unit, all‑brick, three‑story building built in 1963
- Unit mix: five 1‑bedroom units and one studio, each with one full bathroom
- Recently renovated with all new kitchens and bathrooms
Financial Insights For Apartment 5plus
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 | $128.0k | $23.28 |
| − Vacancy | −$7.4k | −$1.35 |
| EGI | $120.6k | $21.93 |
| − OpEx | −$54.3k | −$9.87 |
| NOI | $66.3k | $12.06 |
5,500 SF · lease $23.28/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$947.7K
$829.2K – $1.11M
NOI $66,338 @ 7.0% cap · market cap 8.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.61M
$1.41M – $1.87M
NOI $112,499 @ 7.0% cap · market cap 15.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Six-unit, all-brick, three-story building with five one-bedrooms and one studio, renovated kitchens and baths, and coin laundry.
Where is this apartment building located?
The property is located at 3606 34th Street East 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: Six‑unit, all‑brick, three‑story building built in 1963; Unit mix: five 1‑bedroom units and one studio, each with one full bathroom; Recently renovated with all new kitchens and bathrooms
