Duplex with Vaulted
New
For Sale
$725,000
857 23rd Avenue SE, Minneapolis, MN 55414
Residential Income, Minneapolis, MN
Property Size3,920 SF
Lot Size0.12 Acres
Price / SF$184.95
Days on Market4
Property Features for 857 23rd Avenue SE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential-Multi-Family
Bedrooms
10
Bathrooms
4
Full bathrooms
4
Rooms
Basement, Bedroom 3, Bedroom 9, Bedroom 7, Bedroom 1, Bathroom 1, Bathroom 2, Bathroom 4, Bedroom 4, Bedroom 10, Bedroom 8, Bedroom 5, Laundry Room, Bathroom 3, Bedroom 2, Bedroom 6
Parking features
Driveway
Patio and Porch features
Patio
Fencing
Chain Link
Subdivision
Cole & Weeks Add
Lot features
Tree Coverage - Light
High school district
Minneapolis
Directions
From I-35W, take the University Avenue SE exit and follow local roads toward 23rd Avenue SE. The property is located near the University of Minnesota.
Standard status
Active
APN
1902923240115
Size
3,920 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
12201
Utilities
Heating system
Forced Air
Building Details
Year built
1954
Building materials
Frame
Roof type
Shingle
Listing Agency:
eXp Realty
(320) 500-4397
Listed By:
Corey Brenner
(612) 751-9303
Added: Oct 20
Changed: Oct 23
Last Checked: Oct 23 at 3:06PM
MLS# 7160550
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.
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Investment Insights
Based on property information with market context.
This 1954 frame duplex contains 3,920 square feet on a 0.12-acre lot. The room inventory includes 10 bedrooms and four bathrooms, with 12-foot vaulted ceilings in the upstairs bedrooms. Stainless steel appliances are also present. Forced-air heating serves the building, and the exterior includes a shingle roof and chain-link fencing.
The property is near the University of Minnesota, restaurants, coffee shops, and other local amenities. A driveway, patio, and laundry room are among the additional features.
The property is near the University of Minnesota, restaurants, coffee shops, and other local amenities. A driveway, patio, and laundry room are among the additional features.
Key Highlights
- 3,920‑square‑foot duplex on a 0.12‑acre lot
- 10 bedrooms and four bathrooms
- 12‑foot vaulted ceilings in upstairs bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,274
Cap Rate
7.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,145,480
$1.1M
Cap Rate 7%
$818,200
$818.2K
Cap Rate 9%
$636,378
$636.4K
Market Conditions
NOI Build-Up for 3,920 SF
Gross rent
$87.0K $22.20/SF
− Vacancy
−$5.2K −$1.33/SF
EGI
$81.8K $20.87/SF
− OpEx
−$24.5K −$6.26/SF
NOI
$57.3K $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%
$1,145,480
Cap Rate 7%
$818,200
Cap Rate 9%
$636,378
Alternative Uses
Best Use
Multifamily LT 5
$818.2K
$715.9K – $954.6K
NOI $57,274 @ 7.0% cap · market cap 7.90%
Second Best
Apartment 5plus
$751.5K
$657.6K – $876.8K
NOI $52,605 @ 7.0% cap · market cap 7.26%
Theoretical Best
Office A
$935.2K
$818.3K – $1.09M
NOI $65,466 @ 7.0% cap · market cap 9.03%
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
874
Businesses Nearby
Explore this area
Business Placement
Demographics for 55414, MN
36,600
Population
15,541
Households
2.4
Avg Household Size
26
Median Age
68%
College-Educated
93%
High-School Grad
3.1 sq mi
ZIP Area
11,806
Density / Sq Mi
$47,004
Median Household Income
$18,386
Median Earnings
$1,368
Median Rent
$454,200
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 - Ten bedrooms and four bathrooms create a substantial residential layout near the University of Minnesota.
Where is this duplex located?
The property is located at 857 23rd Avenue SE Minneapolis, MN.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 3,920‑square‑foot duplex on a 0.12‑acre lot; 10 bedrooms and four bathrooms; 12‑foot vaulted ceilings in upstairs bedrooms
