3232 3rd Avenue S, Minneapolis, MN 55408 (MLS# 7046327)

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Waterfront Present: No
Year Built: 1902
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Main Floor Total SqFt: 1280
Above Ground SqFt: 2560
Total SqFt: 2560
Foundation Size: 1280
Style: (MF) Duplex Up and Down
Total Finished Sqft: 2560.00
Lot Dimensions: 46x128
Acres: 0.14
Assessment Pending: No
Below Grd Total SqFt: 0
Garage Stalls: 0

Property Features

Accessible: Stair Chair Lift Basement: Full; Unfinished Construction Status: Previously Owned Exterior: Metal; Vinyl Fencing: Chain Link; Privacy; Wood Foundation: Concrete Block Fuel: Natural Gas Heating: Boiler; Hot Water Owner Pays: Insurance; Maintenance/Repair; Taxes Road Frontage: City Street Roof: Asphalt Shingles; Rubber Sellers Terms: Cash; Conventional; FHA; VA Sewer: City Sewer/Connected Stories: Two Tenant Pays: Electricity; Fuel; Lawn; Snow Removal Unit 1 Amenities: Deck; Hardwood Floors; Kitchen Window; Natural Woodwork; Porch; Tile Floors Unit 1 Appliances: Dryer; Range; Refrigerator; Washer Unit 1 Bath Description: Main Floor Full Bath Unit 1 Cooling: None Unit 1 Dining Room Description: Separate/Formal Dining Rm Unit 2 Amenities: Deck; Hardwood Floors; Kitchen Window; Natural Woodwork; Porch; Tile Floors Unit 2 Appliances: Dishwasher; Microwave; Range; Refrigerator Unit 2 Bath Description: Upper Level Full Bath Unit 2 Cooling: Window Unit 2 Dining Room Description: Separate/Formal Dining Rm Water: City Water/Connected

Contract Information

Contingency: Inspection
Original List Price: 425000
ListPrice: 425000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 3232
Street Name: 3rd
Street Suffix: Avenue
Street Direction Suffix: S
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55408

Assessments

Tax With Assessments: 5099.5
Assessment Balance: 0

Building Information

Finished SqFt Above Ground: 2560

More Information

Income and Expenses

Annual Gross Income: 42540
Annual Caretaker Expense: 0
Annual Electric Expense: 0
Annual Fuel Expense: 0
Annual Gross Expenses: 0
Annual Insurance Expense: 0
Annual Maintenance Expense: 0
Annual Net Income: 0
Annual Repair Expense: 0
Annual Trash Expense: 0
Annual Water/Sewer Expense: 0
Total Annual Expenses: 0

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

DP Resource: Yes
Homestead: No

Ownership

Fractional Ownership: No

Unit 1

Furnished?: No
Lease Expiration Date: 2026-06-30
Leased?: Yes
Unit Number: Yes
Annual Rent: 22740
Finished SqFt: 1280
Full Baths: Yes
Monthly Rent: 1895
No. of Units Like This: Yes
Oth Parking Spaces: Yes
Total Baths: Yes
Total Bedrooms: 2
Total Rooms: 6

Unit 2

Furnished?: No
Lease Expiration Date: 2026-05-31
Leased?: Yes
Unit Number: 2
Annual Rent: 19800
Finished SqFt: 1280
Full Baths: Yes
Monthly Rent: 1650
No. of Units Like This: Yes
Oth Parking Spaces: Yes
Total Baths: Yes
Total Bedrooms: 3
Total Rooms: 7

Unit Details

Total Units: 2

Office/Member Info

Association: MAAR

Location, Tax and Other Information

Legal Description: LOT 009 BLOCK 009 BAKERS 2ND ADDN TO MPLS
Listing City: Minneapolis
Map Page: 106
Municipality: Minneapolis
School District: Minneapolis
School District Phone: 612-668-0000
Country: US
Property ID Number: 0302824130010
Tax Year: 2025
Tax Amount: 5099.5
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: The investment opportunity you’ve been waiting for! This massive duplex in the Central Neighborhood of South Minneapolis offers strong current income with future upside. Key capital improvements already completed, including brand-new boilers for both units, maintenance-free siding, updated windows, and nicely refreshed interiors—ideal for attracting top-market rents while minimizing future repair costs. Owner occupant investors welcomed with lower unit lease ending 5/31! With nearly 2,600 finished sq ft and over 5,600 total sq ft, this property features a large basement and walk-up attic currently used for tenant storage but offering potential for value-added expansion for the next owner. Ideal for both first-time investors or seasoned builders seeking a great addition to their portfolio. Units rented until June of 2026 at $1895 & May of 2026 at $1650. Owner pays for water/sewer/trash, tenants responsible for gas & electric.
Directions: 35w to 31st, east to 3rd, south to property.

Accessible

Stair Chair Lift: Yes

Basement

Full: Yes
Unfinished: Yes

Construction Status

Previously Owned: Yes

Exterior

Metal: Yes
Vinyl: Yes

Fencing

Chain Link: Yes
Privacy: Yes
Wood: Yes

Foundation

Concrete Block: Yes

Fuel

Natural Gas: Yes

Heating

Boiler: Yes
Hot Water: Yes

Owner Pays

Insurance: Yes
Maintenance/Repair: Yes
Taxes: Yes

Road Frontage

City Street: Yes

Roof

Asphalt Shingles: Yes
Rubber: Yes

Sellers Terms

Cash: Yes
Conventional: Yes
FHA: Yes
VA: Yes

Sewer

City Sewer/Connected: Yes

Stories

Two: Yes

Water

City Water/Connected: Yes

No. of Ranges

Two: Yes

Tenant Pays

Electricity: Yes
Fuel: Yes
Lawn: Yes
Snow Removal: Yes

Unit 1 Amenities

Deck: Yes
Hardwood Floors: Yes
Kitchen Window: Yes
Natural Woodwork: Yes
Porch: Yes
Tile Floors: Yes

Unit 1 Appliances

Dryer: Yes
Range: Yes
Refrigerator: Yes
Washer: Yes

Unit 1 Bath Description

Main Floor Full Bath: Yes

Unit 1 Cooling

None: Yes

Unit 1 Dining Room Description

Separate/Formal Dining Rm: Yes

Unit 2 Amenities

Deck: Yes
Hardwood Floors: Yes
Kitchen Window: Yes
Natural Woodwork: Yes
Porch: Yes
Tile Floors: Yes

Unit 2 Appliances

Dishwasher: Yes
Microwave: Yes
Range: Yes
Refrigerator: Yes

Unit 2 Bath Description

Upper Level Full Bath: Yes

Unit 2 Cooling

Window: Yes

Unit 2 Dining Room Description

Separate/Formal Dining Rm: Yes