4-Unit Apartment
New
For Sale
$625,000
3831 Grand Avenue S, Minneapolis, MN 55409
Residential Income, Minneapolis, MN
Property Size3,444 SF
Lot Size0.13 Acres
Price / SF$181.48
Days on Market7
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Property Features for 3831 Grand Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential-Multi-Family
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Laundry Room, Bedroom 5, Bathroom 3, Bathroom 1, Bedroom 6, Bedroom 4, Bathroom 4, Bathroom 2, Bedroom 2, Bedroom 1, Bedroom 7, Basement
Parking features
Driveway
Patio and Porch features
Porch, Patio
Subdivision
Mabies 2nd Add
Lot features
Public Transit (w/in 6 blks), Tree Coverage - Light
High school district
Minneapolis
Directions
I-35, west on E 36th St, south on Grand Ave S, home on left
Standard status
Active
APN
1002824220108
Size
3,444 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10838
Utilities
Heating system
Oil, Hot Water(Heating)
Amenities
hardwood floors
natural woodwork
paneled doors
historic millwork
skylights
ceiling fans
front porches
storage lockers
common washer and dryer
fiber internet available
Building Details
Year built
1915
Building materials
Block, Frame
Roof type
Rubber, Flat
Listing Agency:
Keller Williams Premier Realty Lake Minnetonka · Keller Williams Realty
Listed By:
Isaac Nagel
(952) 475-0111
Added: Oct 9
Changed: Oct 14
Last Checked: Oct 15 at 5:06PM
MLS# 7138181
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.
Investment Insights
Based on property information with market context.
Built in 1915, this 3,444-square-foot apartment building contains four units: three two-bedroom apartments and one with a single bedroom. Three units are rented, leaving one vacant. Hardwood floors, wood trim, paneled doors, and millwork add period detail; upper-level apartments also have skylights and ceiling fans. Each unit has front and rear entries, a full bathroom, and a range and refrigerator. The basement includes tenant storage lockers, shared laundry, daylight and egress windows, and an existing kitchen and bathroom. Additional work would be needed to finish the space for a proposed fifth unit.
The property sits on a 0.13-acre lot with a concrete driveway providing off-street parking for four vehicles. Public transit is nearby, and fiber internet is available. Tenants pay their own electric, gas, heat, cable, and phone service; the owner covers trash, snow removal, and property taxes.
The property sits on a 0.13-acre lot with a concrete driveway providing off-street parking for four vehicles. Public transit is nearby, and fiber internet is available. Tenants pay their own electric, gas, heat, cable, and phone service; the owner covers trash, snow removal, and property taxes.
Key Highlights
- Four apartments: three 2‑bedroom units and one 1‑bedroom unit
- Three of the four apartments are rented; one is vacant
- 3,444 square feet on a 0.13‑acre lot
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
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Current Use
Lease Details
4
Residential units
75%
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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - One apartment is vacant, and the basement has a kitchen, bathroom, tenant storage lockers, and shared laundry.
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: Four apartments: three 2‑bedroom units and one 1‑bedroom unit; Three of the four apartments are rented; one is vacant; 3,444 square feet on a 0.13‑acre lot
