Tudor Duplex with Four Garage
For Sale
$740,000
4145 Colfax Ave S, Minneapolis, MN 55409
Two spacious residences combine period character with updated garages, roofing, masonry, and boiler systems.
Property Size3,034 SF
Lot Size1.50 Acres
Price / SF$243.90
Days on Market47
Property Features for 4145 Colfax Ave S
General Information
Standard status
Active
Size
3,034 SF
Total Parking Spaces
4
Lot size
1.50 Acres
Property subtype
Multi-Family
Site & Location
Neighborhood
Camden
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
2
Amenities
formal dining rooms
eat-in kitchen nooks
large kitchen pantries
living room fireplaces
shared cobblestone patio
Building Details
Year Built
1931
Buildings
1
Construction
Tudor
Listing Agency:
RE/MAX Results
Listed By:
Kurt J Faber
(952) 829-2900
Source:
Brickandbanister
Added: Sep 8
Changed: Oct 21
Last Checked: Oct 23 at 9:46AM
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 RE/MAX Results
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Investment Insights
Based on property information with market context.
Built in 1931, this 3,034-square-foot Tudor duplex contains two residences, each with 3 bedrooms and 2 baths. Both units feature formal dining rooms, eat-in kitchen areas, substantial pantry storage, living room fireplaces, and a full bath with built-in vanity. A 3/4 Jack-and-Jill bath serves the secondary bedrooms in each residence. The property also includes a shared cobblestone patio and four total garage stalls, with a 2-car garage assigned to each unit.
The duplex is located at 4145 Colfax Ave S in Minneapolis, less than two blocks from Lake Harriet and 1.5 blocks from the Rose Garden. Property updates include a 2017 roof, one newer boiler, newer garages, and reconstruction of the top 17 feet of the chimney exterior with new brick, a limestone overhang, and a reinforced concrete cap.
The two-unit layout, substantial living areas, and separate garage capacity support both owner-occupant and investor ownership strategies.
The duplex is located at 4145 Colfax Ave S in Minneapolis, less than two blocks from Lake Harriet and 1.5 blocks from the Rose Garden. Property updates include a 2017 roof, one newer boiler, newer garages, and reconstruction of the top 17 feet of the chimney exterior with new brick, a limestone overhang, and a reinforced concrete cap.
The two-unit layout, substantial living areas, and separate garage capacity support both owner-occupant and investor ownership strategies.
Key Highlights
- Two‑unit Tudor property built in 1931 with 3,034 SF
- Each residence includes 3 bedrooms, 2 baths, and a 3/4 Jack‑and‑Jill bath
- Two 2‑car garages provide 4 stalls total
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,329
Cap Rate
5.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$886,580
$886.6K
Cap Rate 7%
$633,271
$633.3K
Cap Rate 9%
$492,544
$492.5K
Market Conditions
NOI Build-Up for 3,034 SF
Gross rent
$67.4K $22.20/SF
− Vacancy
−$4.0K −$1.33/SF
EGI
$63.3K $20.87/SF
− OpEx
−$19.0K −$6.26/SF
NOI
$44.3K $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%
$886,580
Cap Rate 7%
$633,271
Cap Rate 9%
$492,544
Alternative Uses
Best Use
Multifamily LT 5
$633.3K
$554.1K – $738.8K
NOI $44,329 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$581.6K
$508.9K – $678.6K
NOI $40,715 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$723.8K
$633.4K – $844.5K
NOI $50,669 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
394
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two spacious residences combine period character with updated garages, roofing, masonry, and boiler systems.
Where is this duplex located?
The property is located at 4145 Colfax Ave S Minneapolis, MN.
What is the asking price?
The asking price for this property is $740,000.
What are key features of this property?
This property features: Two‑unit Tudor property built in 1931 with 3,034 SF; Each residence includes 3 bedrooms, 2 baths, and a 3/4 Jack‑and‑Jill bath; Two 2‑car garages provide 4 stalls total
