Side-by-Side Duplex with
5453 28th Avenue S, Minneapolis, MN 55417
For Sale
$455,000
Matching layouts, hardwood floors, and natural light distinguish both residences.
Property Size2,790 SF
Price / SF$163.08
Days on Market32
Property Features for 5453 28th Avenue S
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Tenant in Place
Building Details
Year Built
Listing Agency:
Coldwell Banker Realty - Lakes
(612) 920-5605
Listed By:
Nicholas Hall
(612) 275-3474
Source:
Obviousrealestate
Added: Oct 9
Changed: Nov 8
Last Checked: Nov 8 at 5:30PM
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 Coldwell Banker Realty - Lakes
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Investment Insights
Based on property information with market context.
This 2,790-square-foot duplex, built in 1960, has two side-by-side residences with matching floor plans. Together, the units offer six bedrooms and four bathrooms. Lower-level kitchenettes add another functional feature, while hardwood floors and natural light are present throughout the property.
The property is near Lake Nokomis. Additional lower-level space is identified as potentially finishable, with the described area stated as 4-500 square feet.
The property is near Lake Nokomis. Additional lower-level space is identified as potentially finishable, with the described area stated as 4-500 square feet.
Key Highlights
- 2,790‑square‑foot side‑by‑side duplex built in 1960
- Six bedrooms and four bathrooms across two matching units
- Lower‑level kitchenettes in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,764
Cap Rate
8.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$815,280
$815.3K
Cap Rate 7%
$582,343
$582.3K
Cap Rate 9%
$452,933
$452.9K
Market Conditions
NOI Build-Up for 2,790 SF
Gross rent
$61.9K $22.20/SF
− Vacancy
−$3.7K −$1.33/SF
EGI
$58.2K $20.87/SF
− OpEx
−$17.5K −$6.26/SF
NOI
$40.8K $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%
$815,280
Cap Rate 7%
$582,343
Cap Rate 9%
$452,933
Alternative Uses
Best Use
Multifamily LT 5
$582.3K
$509.6K – $679.4K
NOI $40,764 @ 7.0% cap · market cap 8.96%
Second Best
Apartment 5plus
$534.9K
$468.0K – $624.0K
NOI $37,441 @ 7.0% cap · market cap 8.23%
Theoretical Best
Office A
$665.6K
$582.4K – $776.6K
NOI $46,595 @ 7.0% cap · market cap 10.24%
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
294
Businesses Nearby
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Business Placement
Demographics for 55417, MN
26,259
Population
11,556
Households
2.3
Avg Household Size
40
Median Age
62%
College-Educated
95%
High-School Grad
4.4 sq mi
ZIP Area
5,968
Density / Sq Mi
$122,639
Median Household Income
$71,250
Median Earnings
$1,377
Median Rent
$368,400
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Minneapolis, MN
Properties on Market for Duplexes in Minneapolis
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Matching layouts, hardwood floors, and natural light distinguish both residences.
Where is this duplex located?
The property is located at 5453 28th Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: 2,790‑square‑foot side‑by‑side duplex built in 1960; Six bedrooms and four bathrooms across two matching units; Lower‑level kitchenettes in place
