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3400 10th Ave S 12 Unit Apartment Building $1,784,107 CAD ($148,676 CAD/Unit) Minneapolis, MN 55407
Investment Highlights
- Located across from Powderhorn Park, offering tenants exceptional recreational access
- Participates in the Minneapolis 4D program, providing advantageous property tax savings
- Strong walkability to public transit, neighborhood retail, and cultural amenities.
- Recent capital improvements include a new boiler, water heater, and electrical updates
Executive Summary
Situated in the heart of South Minneapolis’ Powderhorn Park neighborhood, 3400 10th Ave S offers a strong value-add multifamily investment opportunity. This 12-unit property is located directly across from Powderhorn Park, providing tenants immediate access to 66 acres of green space, trails, and recreational amenities. The building was constructed in 1966 and has undergone recent upgrades, including a newer parking lot, an updated boiler, and modernized electrical systems. Many of the units have been renovated, positioning the property for stable in-place income while allowing for continued upside through targeted improvements and rent growth.
Property Facts
| Price | $1,784,107 CAD | Building Class | C |
| Price Per Unit | $148,676 CAD | Lot Size | 0.26 AC |
| Sale Type | Investment | Building Size | 7,368 SF |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1966 |
| Property Subtype | Apartment | Parking Ratio | 2.04/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R2B - multifamily residential | ||
| Price | $1,784,107 CAD |
| Price Per Unit | $148,676 CAD |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 7,368 SF |
| No. Stories | 2 |
| Year Built | 1966 |
| Parking Ratio | 2.04/1,000 SF |
| Zoning | R2B - multifamily residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 12 | - | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Good public transit
70/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 02-028-24-31-0017 | Improvements Assessment | $1,535,199 CAD |
| Land Assessment | $222,428 CAD | Total Assessment | $1,757,627 CAD |
Property Taxes
Parcel Number
02-028-24-31-0017
Land Assessment
$222,428 CAD
Improvements Assessment
$1,535,199 CAD
Total Assessment
$1,757,627 CAD
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3400 10th Ave S
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