3605 3rd Ave S Minneapolis, MN 55409
Central NeighborhoodEstimated payment $2,798/month
Highlights
- Forced Air Heating System
- Washburn High School Rated A-
- 3-minute walk to Ernestine Belton Memorial Playground
About This Home
Public Remarks: Fantastic investment opportunity in the desirable Central neighborhood of South Minneapolis! This classic triplex blends timeless character with solid income potential and long-term upside. The property features updated mechanicals, newer vinyl thermopane windows, and three income-producing units currently rented at $1,575, $1,590, and $1,000 per month. Located in a highly walkable and bike-friendly area near transit, parks, restaurants, and the Midtown Greenway, this property offers strong tenant appeal and convenient access to everything South Minneapolis has to offer. Ideal for an owner-occupant seeking supplemental rental income or an investor looking for a stable multifamily asset in the urban core. Opportunity to convert currently rented nonconforming unit to conforming through the addition of an exterior staircase. Additional financial upside available through the City of Minneapolis 4D Affordable Housing Incentive Program, which can reduce property taxes by up to 40% annually if qualifying units are enrolled. Strong cash flow, classic charm, and future upside make this a compelling opportunity in one of Minneapolis’ most connected neighborhoods.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $6,252
Year Built
- Built in 1910
Lot Details
- Lot Dimensions are 40x130
Home Design
- Triplex
- Combination Foundation
- Vinyl Siding
Interior Spaces
- 2,570 Sq Ft Home
- 2-Story Property
- Unfinished Basement
- Laundry in Basement
Bedrooms and Bathrooms
- 7 Bedrooms
- 3 Bathrooms
Utilities
- Forced Air Heating System
- Space Heater
Community Details
- 3 Units
Listing and Financial Details
- Assessor Parcel Number 0302824440050
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $5,928 | $325,000 | $74,000 | $251,000 |
| 2023 | $5,199 | $325,000 | $64,000 | $261,000 |
| 2022 | $4,960 | $304,000 | $58,000 | $246,000 |
| 2021 | $5,124 | $292,000 | $39,000 | $253,000 |
| 2020 | $5,043 | $307,000 | $32,100 | $274,900 |
| 2019 | $4,717 | $279,000 | $21,400 | $257,600 |
| 2018 | $4,308 | $253,500 | $21,400 | $232,100 |
| 2017 | $4,405 | $228,500 | $19,500 | $209,000 |
| 2016 | $3,867 | $200,000 | $19,500 | $180,500 |
| 2015 | $2,648 | $130,500 | $19,500 | $111,000 |
| 2014 | -- | $113,500 | $19,500 | $94,000 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 06/01/2026 06/01/26 | For Sale | $419,900 | +152.2% | $163 / Sq Ft | |
| 01/31/2014 01/31/14 | Sold | $166,500 | -16.3% | $65 / Sq Ft | View Prior Sale |
| 11/30/2013 11/30/13 | Pending | -- | -- | -- | |
| 08/26/2013 08/26/13 | For Sale | $199,000 | -- | $77 / Sq Ft |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $166,500 | Guaranty Title Inc | |
| Sheriffs Deed | $53,124 | None Available | |
| Foreclosure Deed | $25,000 | -- | |
| Warranty Deed | $47,400 | -- | |
| Warranty Deed | $80,000 | -- |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $124,875 | New Conventional | |
| Closed | -- | No Value Available |
Source: NorthstarMLS
MLS Number: 7074993
APN: 03-028-24-44-0050
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Listings courtesy of NorthstarMLS as distributed by MLS GRID.
Based on information submitted to the MLS GRID
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