4-Plex with Coin-Op
For Sale
$519,900
Pending
5705 Lyndale Avenue S, Minneapolis, MN 55419
MULTI_FAMILY - Minneapolis, MN
Property Size3,128 SF
Lot Size0.14 Acres
Days on Market99
Property Features for 5705 Lyndale Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential-Multi-Family
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 4, Bathroom 4, Basement, Bathroom 2, Bathroom 3, Bedroom 1, Bathroom 1, Bedroom 3
Parking features
Parking Lot
Exterior features
Stucco
Subdivision
Grand Ave Park
High school district
Minneapolis
Directions
35W TO 46TH, WEST TO LYNDALE AVE, SOUTH TO HOME
Standard status
Pending
APN
2202824230113
Size
3,128 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8652
Utilities
Heating system
Oil
Amenities
coin-op laundry
storage
work spaces
backyard
shed
Building Details
Year built
1948
Listing Agency:
Verde Real Estate Group
(612) 808-6600
Listed By:
Reid Lenz
(612) 600-8888
Added: May 8
Changed: Aug 12
Last Checked: Aug 14 at 3:06AM
MLS# 7070622
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.
Well cared for, fully rented 4-plex in Minneapolis with four 1/1 units averaging 900 SF each within a 3,128 SF property. Built in 1948 with stucco exterior and oil heat, the building includes basement coin-op laundry, storage, and work spaces. Common areas are described as clean and maintained, with proactive updates including newer appliances and interior paint. Newer mechanicals are also noted.
On-site outdoor space includes a backyard with a shed and four off-street parking spots. Utilities are set up with split electrical and gas meters for the individual units.
The property is positioned in the Windom neighborhood with convenient access to main highways and nearby retail and everyday destinations, including Kowalski’s, S Lyndale Wine & Deli, and Bachman’s, as well as trails, parks, restaurants, and schools in the SW Minneapolis area.
On-site outdoor space includes a backyard with a shed and four off-street parking spots. Utilities are set up with split electrical and gas meters for the individual units.
The property is positioned in the Windom neighborhood with convenient access to main highways and nearby retail and everyday destinations, including Kowalski’s, S Lyndale Wine & Deli, and Bachman’s, as well as trails, parks, restaurants, and schools in the SW Minneapolis area.
Key Highlights
- Four 1/1 units, each averaging 900 SF, within a 3,128 SF property
- Basement coin‑op laundry plus storage and work spaces
- Stucco exterior; oil heat; year built 1948
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,702
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$914,040
$914.0K
Cap Rate 7%
$652,886
$652.9K
Cap Rate 9%
$507,800
$507.8K
Market Conditions
NOI Build-Up for 3,128 SF
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.
Gross rent
$69.4K $22.20/SF
− Vacancy
−$4.2K −$1.33/SF
EGI
$65.3K $20.87/SF
− OpEx
−$19.6K −$6.26/SF
NOI
$45.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$914,040
Cap Rate 7%
$652,886
Cap Rate 9%
$507,800
Alternative Uses
Best Use
Multifamily LT 5
$652.9K
$571.3K – $761.7K
NOI $45,702 @ 7.0% cap · market cap 8.79%
Second Best
Apartment 5plus
$599.7K
$524.7K – $699.6K
NOI $41,977 @ 7.0% cap · market cap 8.07%
Theoretical Best
Office A
$746.3K
$653.0K – $870.7K
NOI $52,239 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
692
Businesses Nearby
Explore this area
Business Placement
Demographics for 55419, MN
27,919
Population
12,119
Households
2.3
Avg Household Size
39
Median Age
72%
College-Educated
97%
High-School Grad
4.2 sq mi
ZIP Area
6,647
Density / Sq Mi
$143,254
Median Household Income
$77,467
Median Earnings
$1,476
Median Rent
$479,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully rented Minneapolis 4-plex with basement coin-operated laundry, oil heat, stucco exterior, and four off-street parking spots.
Where is this quadplex located?
The property is located at 5705 Lyndale Avenue S Minneapolis, MN.
What is the asking price?
The asking price for this property is $519,900.
What are key features of this property?
This property features: Four 1/1 units, each averaging 900 SF, within a 3,128 SF property; Basement coin‑op laundry plus storage and work spaces; Stucco exterior; oil heat; year built 1948
