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NE Mpls Fourplex - Turnkey + Upside 2526 Jackson St NE 4 Unit Apartment Building $933,929 CAD ($233,482 CAD/Unit) Minneapolis, MN 55418
Investment Highlights
- High-end 2016 renovation on 3 of 4 units with rents still under market - turnkey condition, light value-add upside
- Proforma est. mid-$90Ks gross at potential 5-unit stabilization (buyer to verify 5th unit feasibility with City of Mpls)
- Holland neighborhood of NE Mpls, one of the metro's strongest rental submarkets, minutes to downtown
Executive Summary
Turnkey, fully occupied fourplex in the Holland neighborhood of NE Minneapolis. Three of four units carry a high-end 2016 renovation (hardwood floors, updated kitchens, newer furnaces and water heaters), including a two-level premium 3bd/2ba showcase unit with its own central A/C, upper-level loft, heated-tile bath, and private balcony. Every unit is separately metered, including the lower level; tenants pay their own electric and gas, owner covers water, sewer, and trash. On-site coin laundry and unbilled basement storage offer additional off-book income.
The value add is real. In-place rents of $5,510/mo ($66,120/yr) sit under market with leases rolling through 2026, a capturable gap of roughly $200/mo per unit. The one original unit is a value-add remodel to a 2bd, and both 1-beds convert easily to 2-beds, pushing the path to 10 beds across 4 units. Bigger upside: the fully finished, separately metered lower level (bath and mechanicals already in place) needs only a kitchen to become a 5th unit, with proforma gross rents in the mid-$90Ks at 5-unit stabilized (buyer to verify conformance with City of Mpls). One unit opening up soon creates an owner-occupant or market-rate reset opportunity.
The value add is real. In-place rents of $5,510/mo ($66,120/yr) sit under market with leases rolling through 2026, a capturable gap of roughly $200/mo per unit. The one original unit is a value-add remodel to a 2bd, and both 1-beds convert easily to 2-beds, pushing the path to 10 beds across 4 units. Bigger upside: the fully finished, separately metered lower level (bath and mechanicals already in place) needs only a kitchen to become a 5th unit, with proforma gross rents in the mid-$90Ks at 5-unit stabilized (buyer to verify conformance with City of Mpls). One unit opening up soon creates an owner-occupant or market-rate reset opportunity.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $933,929 CAD | Building Class | B |
| Price Per Unit | $233,482 CAD | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 4,400 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1891/2016 |
| Property Subtype | Apartment | Parking Ratio | 1.82/1,000 SF |
| Zoning | R2B - Legacy Mpls Two-Family District (R2B). Legal nonconforming 4-plex, built 1891, predates zoning. Standard Tier 1 rental license. | ||
| Price | $933,929 CAD |
| Price Per Unit | $233,482 CAD |
| Sale Type | Investment |
| Sale Condition | 1031 Exchange |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.19 AC |
| Building Size | 4,400 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1891/2016 |
| Parking Ratio | 1.82/1,000 SF |
| Zoning | R2B - Legacy Mpls Two-Family District (R2B). Legal nonconforming 4-plex, built 1891, predates zoning. Standard Tier 1 rental license. |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Storage Space
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Wi-Fi
- Basement
- Deck
- Dining Room
- Family Room
- Island Kitchen
- Lawn
- Linen Closet
- Mud Room
- Pantry
- Patio
- Porch
- Large Bedrooms
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Wi-Fi
- Storage Space
- Bicycle Storage
- Sundeck
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | $2,847 CAD | 1,200 |
| 2+1 | 1 | $1,896 CAD | 700 |
| 1+1 | 2 | $1,653 CAD | 700 |
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 11-029-24-14-0079 | Total Assessment | $725,364 CAD |
| Land Assessment | $139,386 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $585,978 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
11-029-24-14-0079
Land Assessment
$139,386 CAD
Improvements Assessment
$585,978 CAD
Total Assessment
$725,364 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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NE Mpls Fourplex - Turnkey + Upside | 2526 Jackson St NE
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