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3021 Longfellow Ave 12 Unit Apartment Building $1,225,000 ($102,083/Unit) Minneapolis, MN 55407
Investment Highlights
- Located in the highly accessible Corcoran neighborhood of South Minneapolis.
- Minutes from Augsburg College, Abbott Northwestern Hospital, and major employment hubs
- Walking distance to neighborhood amenities and transit options for tenant convenience
- Part of the Minneapolis 4D program ensuring reduced property taxes and energy savings
Executive Summary
3021 Longfellow Avenue represents a compelling opportunity to acquire a 12-unit multifamily asset in one of South Minneapolis’s most consistently occupied submarkets. Situated in the Corcoran neighborhood, this two-story brick and stucco property benefits from a strong rental demand base supported by its proximity to key destinations, including Augsburg College, North Central University, and Abbott Northwestern Hospital. The building has undergone steady improvements over recent years, featuring updates such as newer electric panels, a new front concrete stoop, and multiple unit remodels.
Property Facts
| Price | $1,225,000 | Building Class | C |
| Price Per Unit | $102,083 | Lot Size | 0.29 AC |
| Sale Type | Investment | Building Size | 7,560 SF |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 2.65/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R6 - Multifamily Residential | ||
| Price | $1,225,000 |
| Price Per Unit | $102,083 |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 7,560 SF |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 2.65/1,000 SF |
| Zoning | R6 - Multifamily Residential |
Amenities
Unit Amenities
- Air Conditioning
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | - |
1 1
Exceptionally walkable
90/100
Moderately drivable
70/100
Exceptional public transit
90/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 01-028-24-22-0029 | Improvements Assessment | $1,005,900 |
| Land Assessment | $175,100 | Total Assessment | $1,181,000 |
Property Taxes
Parcel Number
01-028-24-22-0029
Land Assessment
$175,100
Improvements Assessment
$1,005,900
Total Assessment
$1,181,000
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Map
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Contact the Sale Advisor
3021 Longfellow Ave