Duplex with Four-Car
For Sale
$749,000
629 Kenwood Parkway, Minneapolis, MN 55403
Both residences include fireplaces, formal dining rooms, sunrooms and in-unit laundry.
Property Size4,528 SF
Price / SF$165.42
Days on Market14
Property Features for 629 Kenwood Parkway
General Information
Standard status
Active
Size
4,528 SF
Total Parking Spaces
4
Property subtype
Residential Income
Site & Location
Neighborhood
Calhoun Isles
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$11,055
Amenities
fireplace
sunroom
office
in-unit laundry
large unfinished basement
Building Details
Building Size
4,528 SF
Year Built
1917
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Hammer Realty
(701) 642-8703
Listed By:
Jessie Hammer
(701) 640-5030
Source:
Hammer-realty
Added: Oct 12
Changed: Oct 24
Last Checked: Oct 24 at 2:35PM
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 Hammer Realty
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Investment Insights
Based on property information with market context.
Built in 1917, this 4,528-square-foot duplex contains two three-bedroom residences, each with a fireplace, formal dining room, sunroom and spacious kitchen. The upper residence adds a second bathroom, an office and seasonal views of downtown; it is vacant. The main-floor residence has one bathroom and is occupied under a lease ending 11/1/26. Laundry is located within each unit, and the property also has a four-car garage and a large unfinished basement.
The home is in Minneapolis’s Lowry Hill area, within walking distance of the Walker Art Center, Loring Park and the Sculpture Garden. The setting is described as a quiet residential neighborhood.
The home is in Minneapolis’s Lowry Hill area, within walking distance of the Walker Art Center, Loring Park and the Sculpture Garden. The setting is described as a quiet residential neighborhood.
Key Highlights
- Two three‑bedroom residences in a 4,528‑square‑foot duplex built in 1917
- Upper unit has 3 bedrooms, 2 baths, an office and seasonal downtown views; currently vacant
- Main‑floor unit has 3 bedrooms and 1 bath; lease ends 11/1/26
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,157
Cap Rate
8.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,323,140
$1.3M
Cap Rate 7%
$945,100
$945.1K
Cap Rate 9%
$735,078
$735.1K
Market Conditions
NOI Build-Up for 4,528 SF
Gross rent
$100.5K $22.20/SF
− Vacancy
−$6.0K −$1.33/SF
EGI
$94.5K $20.87/SF
− OpEx
−$28.4K −$6.26/SF
NOI
$66.2K $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%
$1,323,140
Cap Rate 7%
$945,100
Cap Rate 9%
$735,078
Alternative Uses
Best Use
Multifamily LT 5
$945.1K
$827.0K – $1.10M
NOI $66,157 @ 7.0% cap · market cap 8.83%
Second Best
Apartment 5plus
$868.1K
$759.6K – $1.01M
NOI $60,764 @ 7.0% cap · market cap 8.11%
Theoretical Best
Office A
$1.08M
$945.3K – $1.26M
NOI $75,620 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,069
Businesses Nearby
Explore this area
Business Placement
Demographics for 55403, MN
17,707
Population
12,906
Households
1.4
Avg Household Size
35
Median Age
59%
College-Educated
96%
High-School Grad
1.4 sq mi
ZIP Area
12,648
Density / Sq Mi
$59,928
Median Household Income
$50,876
Median Earnings
$1,199
Median Rent
$285,200
Median Home Value
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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?
Duplex - Both residences include fireplaces, formal dining rooms, sunrooms and in-unit laundry.
Where is this duplex located?
The property is located at 629 Kenwood Parkway Minneapolis, MN.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Two three‑bedroom residences in a 4,528‑square‑foot duplex built in 1917; Upper unit has 3 bedrooms, 2 baths, an office and seasonal downtown views; currently vacant; Main‑floor unit has 3 bedrooms and 1 bath; lease ends 11/1/26
