3024 Chicago Ave - Apartments FOR SALE


Minneapolis, MN 55407- Central
$579,000 USD
651-900-4386
3024 Chicago Ave, Minneapolis, MN for Sale
$579,000 USD
Apartments - FOR SALE
1/52
null | Request Cap Rate

3024 Chicago Ave
Minneapolis, MN 55407
Central


HIGHLIGHTS

  • Bonus Carriage Home - Single family second building
  • Value add with instant upside to increase rents
  • All furniture in carriage home conveys with sale

OVERVIEW

Rare opportunity to own a highly unique piece of Minneapolis history — this 1908 triplex at 3024 Chicago Avenue has been held by the same family since it was built, now offered to the public for the very first time. 3024 offers two spacious 2BR/1BA units and a studio attic, featuring hardwood floors, natural woodwork, built-ins, and three porches. Included with the sale is the fully renovated carriage house ADU at 3026 Chicago Avenue (same parcel) — a private turnkey 1BR/1BA home with a beautiful modern kitchen, in-unit washer/dryer, and furniture which is included in the sale as well. 3026 was previously rented at $2,100/month. An ideal setup for an owner-occupant seeking added privacy or an investor looking to maximize returns across multiple income streams. Recent combined current rents of $5,600/month with market upside. Great location just blocks from Abbott Northwestern and Children's Hospitals, with easy access to I-35W, Midtown Global Market, and the Lake Street corridor. Fast connections to Downtown Minneapolis and Mall of America via the D Line Rapid METRO. Owner currently pays all utilities. Four off-street parking spaces. Coin-op laundry. Strong in-place cash flow with clear rent upside — a true value-add opportunity in a high-demand rental submarket. All measurements deemed reliable but not guaranteed; buyer to verify.

FOR SALE DETAILS

PRICE

$579,000 USD

PRICE/SF

$164 USD /SF

# OF UNITS

4

PRICE/UNIT

$144,750

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Chicago Ave Triplex + Carriage House

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1908

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

Residential-Multi-Family

APN/PARCEL ID

02-028-24-22-0154

ASK ABOUT THIS PROPERTY

Doug McNicollMRG Realty PartnersMore Info
651-900-4386

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Doug McNicollMRG Realty PartnersMore Info
651-900-4386

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.