Log In/Sign Up
Your email has been sent.
2420 4th Ave S 5 Unit Apartment Building $760,000 ($152,000/Unit) 6.56% Cap Rate Minneapolis, MN 55404
Executive Summary
Five-unit building in Whittier, one of Minneapolis' highest-demand renter neighborhoods. Attractive walkable pocket just blocks from internationally recognized restaurants, Minneapolis College of Art & Design, and the local arts scene like the Minneapolis Institute of Art. With this central location close to 35W, 94, Uptown & Downtown, renters and managers have quick & easy access to the property.
Four of the units are 2BR/1BA with an in-unit washer/dryer set, granite counters, gas stove, dishwasher, and central air. The building was fully renovated to code, and the major systems have been steadily replaced in the past 10 years: All Furnaces (2018) water heaters (2020), roof (2024) and updated electrical. The fifth unit (large studio) was added in 2021. Fire sprinkler system throughout.
Two-car garage plus two off-street surface parking spots. RUBS already in place for partial utility recapture. Locking basement storage for each unit.
Owners or managers can step into place and focus on cash flow, instead of planning major repairs in the near future with a property that was renovated the right way the first time on good bones.
Great entry point for a newer investor who wants to own something that's actually been maintained & wants to maximize income.
Contact Listing Agent directly at 651-998-9380 or david@mrgrealtypartners.com for additional information.
Four of the units are 2BR/1BA with an in-unit washer/dryer set, granite counters, gas stove, dishwasher, and central air. The building was fully renovated to code, and the major systems have been steadily replaced in the past 10 years: All Furnaces (2018) water heaters (2020), roof (2024) and updated electrical. The fifth unit (large studio) was added in 2021. Fire sprinkler system throughout.
Two-car garage plus two off-street surface parking spots. RUBS already in place for partial utility recapture. Locking basement storage for each unit.
Owners or managers can step into place and focus on cash flow, instead of planning major repairs in the near future with a property that was renovated the right way the first time on good bones.
Great entry point for a newer investor who wants to own something that's actually been maintained & wants to maximize income.
Contact Listing Agent directly at 651-998-9380 or david@mrgrealtypartners.com for additional information.
Financial Summary (Pro Forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$83,280
|
$17.35
|
| Other Income |
$1,500
|
$0.31
|
| Vacancy Loss |
$4,164
|
$0.87
|
| Effective Gross Income |
$80,616
|
$16.80
|
| Taxes |
$13,123
|
$2.73
|
| Operating Expenses |
$17,672
|
$3.68
|
| Total Expenses |
$30,795
|
$6.42
|
| Net Operating Income |
$49,821
|
$10.38
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $83,280 |
| Annual Per SF | $17.35 |
| Other Income | |
|---|---|
| Annual | $1,500 |
| Annual Per SF | $0.31 |
| Vacancy Loss | |
|---|---|
| Annual | $4,164 |
| Annual Per SF | $0.87 |
| Effective Gross Income | |
|---|---|
| Annual | $80,616 |
| Annual Per SF | $16.80 |
| Taxes | |
|---|---|
| Annual | $13,123 |
| Annual Per SF | $2.73 |
| Operating Expenses | |
|---|---|
| Annual | $17,672 |
| Annual Per SF | $3.68 |
| Total Expenses | |
|---|---|
| Annual | $30,795 |
| Annual Per SF | $6.42 |
| Net Operating Income | |
|---|---|
| Annual | $49,821 |
| Annual Per SF | $10.38 |
Property Facts
| Price | $760,000 | Apartment Style | Low-Rise |
| Price Per Unit | $152,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 6.56% | Building Size | 4,800 SF |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1912/2020 |
| Property Subtype | Apartment | Parking Ratio | 0.83/1,000 SF |
| Zoning | R4 | ||
| Price | $760,000 |
| Price Per Unit | $152,000 |
| Sale Type | Investment |
| Cap Rate | 6.56% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 4,800 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1912/2020 |
| Parking Ratio | 0.83/1,000 SF |
| Zoning | R4 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Granite Countertops
- Oven
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 2+1 | 4 | - | - |
1 1
Very walkable
80/100
Moderately drivable
60/100
Strong public transit
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 34-029-24-14-0074 | Total Assessment | $698,000 (2024) |
| Land Assessment | $112,700 (2024) | Annual Taxes | $13,123 ($2.73/SF) |
| Improvements Assessment | $585,300 (2024) | Tax Year | 2025 |
Property Taxes
Parcel Number
34-029-24-14-0074
Land Assessment
$112,700 (2024)
Improvements Assessment
$585,300 (2024)
Total Assessment
$698,000 (2024)
Annual Taxes
$13,123 ($2.73/SF)
Tax Year
2025
1 of 73
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
2420 4th Ave S
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.