Side-by-Side Duplex with
For Sale
$359,990
3829 28th Avenue S, Minneapolis, MN 55406
Residential Income, Minneapolis, MN
Property Size1,283 SF
Lot Size0.11 Acres
Price / SF$280.58
Days on Market49
Property Features for 3829 28th Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Laundry Room, Basement, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 1
Parking features
Driveway, Garage - Detached, Assigned
Fencing
Chain Link
Subdivision
Subd Altruria-Lots 1 To 5 & 12
High school district
Minneapolis
Directions
From Hiawatha Ave (Hwy 55), go east on E 38th St to 28th Ave S, then south to property.
Standard status
Active
APN
1202824110096
Size
1,283 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5187
Utilities
Heating system
Gravity
Amenities
shared coin-operated washer and dryer
fully fenced yard
private storage
Building Details
Year built
1929
Listing Agency:
RE/MAX Results · RE/MAX International
(612) 314-1520
Listed By:
Taylor Doolittle
(952) 829-2900
Added: Sep 4
Changed: Oct 16
Last Checked: Oct 22 at 8:06PM
MLS# 7125780
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 1929, this side-by-side duplex contains two one-bedroom, one-bathroom apartments totaling 1,283 square feet. Each residence has a living room, formal dining room, kitchen with a gas range, and its own entrance and garage stall. Hardwood floors, original woodwork, built-in cabinetry, a farmhouse sink, and tiled bathroom floors remain among the interior details. The divided basement includes four storage rooms, with private storage allocated to each unit. Shared laundry equipment has coin operation and hookups, and the property has a fully fenced yard.
The 0.1101-acre property is in Minneapolis, near public transportation, restaurants, coffee shops, Riverview Theater, Lake Hiawatha Park, and Lake Nokomis. Both apartments are currently leased.
The 0.1101-acre property is in Minneapolis, near public transportation, restaurants, coffee shops, Riverview Theater, Lake Hiawatha Park, and Lake Nokomis. Both apartments are currently leased.
Key Highlights
- Two one‑bedroom, one‑bathroom apartments; both are currently leased
- 1,283 square feet on a 0.1101‑acre lot
- Built in 1929; side‑by‑side duplex configuration
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,627
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$332,540
$332.5K
Cap Rate 7%
$237,529
$237.5K
Cap Rate 9%
$184,744
$184.7K
Market Conditions
NOI Build-Up for 1,283 SF
Gross rent
$25.4K $19.80/SF
− Vacancy
−$1.7K −$1.29/SF
EGI
$23.8K $18.51/SF
− OpEx
−$7.1K −$5.55/SF
NOI
$16.6K $12.96/SF
Area
ZIP 55406
Vacancy
6.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$332,540
Cap Rate 7%
$237,529
Cap Rate 9%
$184,744
Alternative Uses
Best Use
Multifamily LT 5
$237.5K
$207.8K – $277.1K
NOI $16,627 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$221.1K
$193.4K – $257.9K
NOI $15,475 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$374.9K
$328.0K – $437.4K
NOI $26,243 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
691
Businesses Nearby
Explore this area
Business Placement
Demographics for 55406, MN
34,588
Population
17,439
Households
2
Avg Household Size
39
Median Age
56%
College-Educated
93%
High-School Grad
5.0 sq mi
ZIP Area
6,918
Density / Sq Mi
$91,865
Median Household Income
$56,291
Median Earnings
$1,276
Median Rent
$335,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Both one-bedroom apartments are leased and include separate entrances, garage stalls, and basement storage.
Where is this duplex located?
The property is located at 3829 28th Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $359,990.
What are key features of this property?
This property features: Two one‑bedroom, one‑bathroom apartments; both are currently leased; 1,283 square feet on a 0.1101‑acre lot; Built in 1929; side‑by‑side duplex configuration
