3759 Bloomington Ave Minneapolis, MN 55407

Property Details for 3759 Bloomington Ave

Year built

1914

Lot size

0.34 lot acres

Property type

Retail space

Property subtype

Storefront properties

APN

02-028-24-44-0072

Description

This exceptional mixed-use property, located at 3759 Bloomington Avenue in Minneapolis, Minnesota, presents a compelling value-add opportunity. The 12,383 square foot building, constructed in 1914, sits on a 0.34-acre lot and boasts a prime corner location at the intersection of Bloomington Avenue and E 38th Street, ensuring high visibility. The property comprises ten units: four three-bedroom residential units and six retail suites. While a portion of the building sustained fire damage in the past (affecting non-structural elements only), the southern tower underwent substantial renovations between 2017 and 2018, including a new roof, updated electrical systems, a new hot water heater, new boilers, and new air conditioning. These renovations resulted in two currently occupied residential units, showcasing the property's potential. The building offers approximately 20 parking spaces, a significant benefit for both residential and commercial tenants. Currently, most units are vacant, providing a blank canvas for renovation and lease-up. The property is being sold as-is, making it ideal for investors seeking a project with significant upside potential. The seller is open to a contract for deed or seller carryback financing. This unique blend of residential and retail space, coupled with its location in the vibrant Powderhorn Park neighborhood and the potential for substantial improvements, makes this a highly attractive investment prospect. The Hennepin County APN is 02-028-24-44-0072. The property consists of one two-story building.