5053 Penn Avenue S Minneapolis, MN 55419
MULTI_FAMILY - Minneapolis, MN
Property Features for 5053 Penn Avenue S
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 2
- Rooms
- Bedroom 4, Basement, Bedroom 6, Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 5, Bedroom 2, Bathroom 2
- Parking features
- Garage - Detached
- Exterior features
- Stucco
- Standard status
- Active
- APN
- 1602824320017
- Size
- 2,146 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 9467
Utilities
- Heating system
- Oil
Building Details
- Year built
- 1923
- Building materials
- Frame
Listing agent Kari M Lundin (612) 998-8959
Listing office Keller Williams Realty Integrity 7401 Metro Blvd No. 350 Edina, Edina, MN (952) 938-6100
Listing date Jul 7, 2026
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.
Set near Lake Harriet and close to Minnehaha Creek, the property is also described as being near neighborhood shopping and dining. Additional exterior amenities include a quiet brick patio, a 2-car garage, and two off-street spaces.
One unit is currently leased for $2,380 per month, with the owner’s unit described as able to go directly to market. The property’s configuration supports owner-occupancy with rental income from the second unit or continued rental use as part of a portfolio.
Key Highlights
- Turnkey duplex built in 1923 with stucco exterior and frame construction
- Each unit offers 3 bedrooms, including a third bedroom tucked down a back hallway
- Rental income: one unit rents for $2,380, with room to raise
Local Financial Insights For Multifamily LT 5
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 | $47.6k | $22.20 |
| − Vacancy | −$2.8k | −$1.33 |
| EGI | $44.8k | $20.87 |
| − OpEx | −$13.4k | −$6.26 |
| NOI | $31.4k | $14.61 |
