Four-Unit Apartment
For Sale
$625,000
3831 Grand Avenue S, Minneapolis, MN 55409
The basement has a kitchen and bathroom, with additional space that could be finished as a fifth unit.
Property Size3,444 SF
Price / SF$181.48
Days on Market14
Property Features for 3831 Grand Avenue S
General Information
Standard status
Active
Size
3,444 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Neighborhood
Southwest
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
3 x 2BR, 1 x 1BR
Multifamily Units
4
Amenities
skylights
ceiling fans
large front porches
storage lockers
common washer/dryer
Building Details
Year Built
1915
Buildings
1
Tenancy
Multi
Listing Agency:
Realty Experts, LLC
Listed By:
The BPR Experience
(952) 992-9279
Source:
Thebprexperience
Added: Oct 11
Changed: Oct 23
Last Checked: Oct 23 at 7:16AM
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 Realty Experts, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1915, this 3,444-square-foot fourplex contains three two-bedroom apartments and one one-bedroom apartment. Each unit has separate front and rear entrances, a living and dining area, a full bathroom, a range, and a refrigerator. Hardwood floors, natural woodwork, paneled doors, and historic millwork contribute period detail; the upper apartments also have skylights and ceiling fans. Large porches span the front of both levels.
All four apartments are rented, with one under lease and three occupied month to month. The basement includes tenant storage lockers, a shared washer and dryer, daylight and egress windows, and a kitchen and bathroom in an unfinished area described as a potential fifth unit. Four off-street parking spaces are provided on the concrete driveway. Tenants pay electric, gas, heat, cable, and phone; the owner covers trash, snow removal, and taxes. The property is on a city street with sidewalks and streetlights, near public transit, and fiber internet is available.
All four apartments are rented, with one under lease and three occupied month to month. The basement includes tenant storage lockers, a shared washer and dryer, daylight and egress windows, and a kitchen and bathroom in an unfinished area described as a potential fifth unit. Four off-street parking spaces are provided on the concrete driveway. Tenants pay electric, gas, heat, cable, and phone; the owner covers trash, snow removal, and taxes. The property is on a city street with sidewalks and streetlights, near public transit, and fiber internet is available.
Key Highlights
- Fourplex built in 1915 with 3,444 square feet
- Unit mix: three 2‑bedroom apartments and one 1‑bedroom apartment
- All four apartments are rented; one has a lease and three are month to month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,319
Cap Rate
8.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,006,380
$1.0M
Cap Rate 7%
$718,843
$718.8K
Cap Rate 9%
$559,100
$559.1K
Market Conditions
NOI Build-Up for 3,444 SF
Gross rent
$76.5K $22.20/SF
− Vacancy
−$4.6K −$1.33/SF
EGI
$71.9K $20.87/SF
− OpEx
−$21.6K −$6.26/SF
NOI
$50.3K $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%
$1,006,380
Cap Rate 7%
$718,843
Cap Rate 9%
$559,100
Alternative Uses
Best Use
Multifamily LT 5
$718.8K
$629.0K – $838.7K
NOI $50,319 @ 7.0% cap · market cap 8.05%
Second Best
Apartment 5plus
$660.2K
$577.7K – $770.3K
NOI $46,217 @ 7.0% cap · market cap 7.39%
Theoretical Best
Office A
$821.7K
$719.0K – $958.6K
NOI $57,517 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
949
Businesses Nearby
Explore this area
Business Placement
Demographics for 55409, MN
11,843
Population
5,488
Households
2.2
Avg Household Size
37
Median Age
63%
College-Educated
96%
High-School Grad
1.3 sq mi
ZIP Area
9,110
Density / Sq Mi
$98,056
Median Household Income
$59,430
Median Earnings
$1,364
Median Rent
$365,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - The basement has a kitchen and bathroom, with additional space that could be finished as a fifth unit.
Where is this quadplex located?
The property is located at 3831 Grand Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Fourplex built in 1915 with 3,444 square feet; Unit mix: three 2‑bedroom apartments and one 1‑bedroom apartment; All four apartments are rented; one has a lease and three are month to month
