3204 23rd Ave S - Apartments FOR SALE


Minneapolis, MN 55407- Corcoran
$495,900 USD
612-584-1345
3204 23rd Ave S, Minneapolis, MN for Sale
$495,900 USD
Apartments - FOR SALE
1/26
null | 5.97% Cap Rate

3204 23rd Ave S
Minneapolis, MN 55407
Corcoran


OVERVIEW

Discover a rare opportunity to own a well-maintained 4-unit investment property that has been lovingly cared for by the same family since 1985. Tucked away on a quiet street in the sought-after Corcoran neighborhood, this property offers the charm of residential living with quick access to Lake Street shops, restaurants, and Light Rail transit. Each unit has seen thoughtful updates over the years, including: Four new water heaters (2020) Four new forced air furnaces (2020) Modernized kitchens and bathrooms in three of the four units In addition to its excellent condition, this property offers multiple value-add opportunities for the next owner in order to optimize rents. The property is also enrolled in the 4D Affordable Housing Incentive Program, providing significantly reduced property taxes through 2029 — a major boost to your cash-flow. Whether you're looking to live in one unit and rent the others or add a reliable asset to your investment portfolio, this property delivers flexibility, future upside, and enduring neighborhood appeal.

FOR SALE DETAILS

PRICE

$495,900 USD

PRICE/SF

$162 USD /SF

# OF UNITS

4

PRICE/UNIT

$123,975

CAP RATE

5.97%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

3204 23rd Ave S

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1912

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

Multifamily

APN/PARCEL ID

01-028-24-24-0057

ASK ABOUT THIS PROPERTY

John Stiles1st SelectMore Info
612-584-1345

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John Stiles1st SelectMore Info
612-584-1345

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