3340 Colfax Avenue S, Minneapolis, MN 55408

Overview

Description

Discover 3340 Colfax Ave S, where historic charm meets modern convenience. This converted duplex, upgraded in September 2023, presents a golden investment opportunity. Recent enhancements encompass a new roof, electrical, plumbing, and luxurious interiors in both units, ensuring immediate occupancy & rental income. The main-floor apartment boasts a fully revamped kitchen, bathroom, and energy-efficient LED lighting. Meanwhile, the garden-level apartment dazzles with a fresh kitchen, remodeled bathroom, and in-unit laundry. Privacy and serenity are guaranteed with a new staircase and sound/fire barrier between units. Embrace versatility, whether you prefer owner occupancy with rental income or leasing both units for a savvy investment. With parking for 2-3 cars and a coveted Uptown location, this property is a rare treasure. Seize the chance to own this income-generating gem in Minneapolis' most sought-after neighborhoods! Some photos virtually altered. All measurements approximate.

Open Houses

Today, 2:30 pm - 4:30 pm

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: Yes
Waterfront Present: No
Year Built: 1909
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Main Floor Total SqFt: 1015
Above Ground SqFt: 1315
Below Grd Total SqFt: 800
Total SqFt: 2115
Foundation Size: 1015
Style: (MF) Other
Total Finished Sqft: 2115.00
Lot Dimensions: 40 X 129
Acres: 0.12
Assessment Pending: No
# Carport Spaces: 0
Garage Stalls: 0

Property Features

Accessible: None Assumable Loan: Not Assumable Construction Status: Previously Owned Existing Financing: Conventional Exterior: Block; Vinyl Foundation: Brick/Mortar Fuel: Natural Gas Heating: Baseboard Laundry: Laundry Closet Lock Box Type: Supra Rental License Type: Airbnb Road Frontage: City Street Road Responsibility: Public Maintained Road Roof: Age 8 Years or Less Sellers Terms: Conventional; FHA; VA Sewer: City Sewer - In Street Stories: One and One Half Unit 1 Appliances: Dishwasher; Dryer; Exhaust Fan/Hood; Range; Washer Unit 1 Special Search: All Living Fac. on One Level; Main Floor Laundry Water: City Water - In Street

Contract Information

Contingency: None
Original List Price: 539900
ListPrice: 539900
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 3340
Street Name: Colfax
Street Suffix: Avenue
Street Direction Suffix: S
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55408
Complex/Dev/Subdivision: Remingtons 2nd Add

Assessments

Tax With Assessments: 7046
Assessment Balance: 0

Basement

Foundation Dimensions: 1,015

More Information

Building Information

Finished SqFt Above Ground: 1315
Finished SqFt Below Ground: 800

Income and Expenses

Annual Gross Expenses: 4000
Annual Gross Income: 26000
Annual Net Income: 22000
Total Annual Expenses: 4000
Annual Caretaker Expense: 0
Annual Electric Expense: 0
Annual Fuel Expense: 0
Annual Insurance Expense: 0
Annual Maintenance Expense: 0
Annual Repair Expense: 0
Annual Trash Expense: 0
Annual Water/Sewer Expense: 0

Lease Details

Land Leased: Not Applicable

Lock Box Type

Lock Box Source: MAAR
Supra: Yes

Miscellaneous Information

Homestead: Yes

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 24
Section#: 04
Township#: 28

Unit 1

Furnished?: No
Leased?: No
Unit Number: Yes
No. of Units Like This: Yes
Total Rooms: Yes

Unit Details

Total Units: 2

Office/Member Info

Association: MAAR

Location, Tax and Other Information

Legal Description: LOT 004 BLOCK 045 REMINGTONS 2ND ADDN TO MPLS
Listing City: Minneapolis
Map Page: 120
Municipality: Minneapolis
School District: Minneapolis
School District Phone: 612-668-0000
Zip Plus 4: 3507
Property ID Number: 0402824140173
Tax Year: 2025
Tax Amount: 7046
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: Discover 3340 Colfax Ave S, where historic charm meets modern convenience. This converted duplex, upgraded in September 2023, presents a golden investment opportunity. Recent enhancements encompass a new roof, electrical, plumbing, and luxurious interiors in both units, ensuring immediate occupancy & rental income. The main-floor apartment boasts a fully revamped kitchen, bathroom, and energy-efficient LED lighting. Meanwhile, the garden-level apartment dazzles with a fresh kitchen, remodeled bathroom, and in-unit laundry. Privacy and serenity are guaranteed with a new staircase and sound/fire barrier between units. Embrace versatility, whether you prefer owner occupancy with rental income or leasing both units for a savvy investment. With parking for 2-3 cars and a coveted Uptown location, this property is a rare treasure. Seize the chance to own this income-generating gem in Minneapolis' most sought-after neighborhoods! Some photos virtually altered. All measurements approximate.
Directions: Hennepin Ave to 33rd St So. East to Colfax and then South to house

Accessible

None: Yes

Assumable Loan

Not Assumable: Yes

Construction Status

Previously Owned: Yes

Existing Financing

Conventional: Yes

Exterior

Block: Yes
Vinyl: Yes

Foundation

Brick/Mortar: Yes

Fuel

Natural Gas: Yes

Heating

Baseboard: Yes

Laundry

Laundry Closet: Yes

Parking Characteristics

Garage Dimensions: No

Patio, Porch and Deck Features

Porch: Yes

Rental License Type

Airbnb: Yes

Road Frontage

City Street: Yes

Road Responsibility

Public Maintained Road: Yes

Roof

Age 8 Years or Less: Yes

Sellers Terms

Conventional: Yes
FHA: Yes
VA: Yes

Sewer

City Sewer - In Street: Yes

Stories

One and One Half: Yes

Water

City Water - In Street: Yes

No. of Ranges

Two: Yes

No. of Refrigerators

Two: Yes

Unit 1 Appliances

Dishwasher: Yes
Dryer: Yes
Exhaust Fan/Hood: Yes
Range: Yes
Washer: Yes

Unit 1 Special Search

All Living Fac. on One Level: Yes
Main Floor Laundry: Yes