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3311 Fremont Ave N 5 Unit Apartment Building $500,000 ($100,000/Unit) Minneapolis, MN 55412
Executive Summary
Turnkey investment with upside potential! This cash-flowing 5+ unit apartment building delivers reliable income with historically low vacancy and strong rental demand in the area. All units are 1-bedrooms that have been updated with modern kitchens, bathrooms, and flooring—reducing maintenance costs and attracting quality tenants. A flexible studio in the basement provides additional opportunity: it was previously part of a 2BR/2BA unit and, with city approval, could become a 6th legal unit to further increase returns. Recent capital improvements include a new water heater, newer boiler, and surface parking for tenants in the back. Seller will contribute 1% towards a buyer’s interest rate buy-down with an acceptable offer—enhancing your cash flow from day one!
Property Facts
| Price | $500,000 | Lot Size | 0.15 AC |
| Price Per Unit | $100,000 | Building Size | 3,200 SF |
| Sale Type | Investment | No. Stories | 2 |
| No. Units | 5 | Year Built | 1961 |
| Property Type | Multifamily | Parking Ratio | 1.88/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | Residential/Multi-Family - Residential/Multi-Family | ||
| Price | $500,000 |
| Price Per Unit | $100,000 |
| Sale Type | Investment |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 3,200 SF |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.88/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | Residential/Multi-Family - Residential/Multi-Family |
Amenities
Unit Amenities
- Air Conditioning
- Refrigerator
- Range
- Vinyl Flooring
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | 800 |
1 1
Property Taxes
| Parcel Number | 09-029-24-13-0061 | Improvements Assessment | $396,500 |
| Land Assessment | $44,500 | Total Assessment | $441,000 |
Property Taxes
Parcel Number
09-029-24-13-0061
Land Assessment
$44,500
Improvements Assessment
$396,500
Total Assessment
$441,000
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3311 Fremont Ave N
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