3407 Lyndale Avenue S, Minneapolis, MN 55408

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Other Parking Spaces: 6
Owner Occupied: No
Waterfront Present: No
Year Built: 1925
Yearly/Seasonal: Yearly
Zoning: Business/Commercial, Residential-Multi-Family
Foundation Size: 2181
Garage Stalls: 2
Power Company: Xcel Energy
For Sale or Lease: For Sale
Acres: 0.13
Lot Dimensions: 45x121
Assessment Pending: No

Property Features

Accessible: None Air Conditioning: Window Unit(s) Amenities Shared: Coin-op Laundry Owned Amenities Unit: Ceiling Fan(s); Hardwood Floors; Kitchen Window; Main Floor Primary Bedroom; Natural Woodwork; Tile Floors; Washer/Dryer Hookup Appliances: Dishwasher; Dryer; Microwave; Range; Refrigerator; Washer Assumable Loan: Not Assumable Basement: Egress Windows; Full; Storage Space; Storage/Locker CMU Style: Apartments/Multi Family; Low Rise Construction Status: Previously Owned Current Use: Residential Exterior: Stucco Flooring: Wood Foundation: Other Fuel: Natural Gas Heating: Boiler; Radiator Loan Terms: Cash; Contract for Deed; Conventional; Special Funding; Other Lock Box Type: Combo Lot Description: Public Transit (w/in 6 blks); Tree Coverage - Light On Site Utilities: Electric Separate; Heating Common; Hot Water Common Owner Pays: Gas; Heat; Hot Water; Lawn; Lawn; Maintenance/Repair; Snow Removal; Taxes; Trash Collection Parking Characteristics: Parking Lot; Paved Lot; Unassigned Pool Description: None Rent Rate per Foot: Per Month Rental License Type: Standard Road Frontage: Curbs; Paved Streets; Sidewalks; Storm Sewer; Township Road Responsibility: Public Maintained Road Roof: Flat; Rubber Sewer: City Sewer/Connected Shared Rooms: Other Stories: Two Tenant Pays: Cable TV; Electricity Topography: Level Wall Description: Finished Water: City Water/Connected

Contract Information

Contingency: None
ListPrice: 899000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 3407
Street Name: Lyndale
Street Suffix: Avenue
Street Direction Suffix: S
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55408
Complex/Dev/Subdivision: Bakers Add

Assessments

Tax With Assessments: 14934
Assessment Balance: 0
Assessment Installment: 0

Building Information

Building Finished SqFt: 5562
Building SqFt: 6543

More Information

Income and Expenses

Annual Fuel Expense: 4039
Annual Gross Expenses: 9274
Annual Gross Income: 97140
Annual Insurance Expense: 7059
Annual Net Income: 97140
Annual Water/Sewer Expense: 5009
Total Annual Expenses: 9274
Annual Caretaker Expense: 0
Annual Electric Expense: 0
Annual Maintenance Expense: 0
Annual Repair Expense: 0
Annual Trash Expense: 0

Lease Details

Land Leased: Not Applicable

Lock Box Type

Lock Box Source: MAAR
Combo: Yes

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Parking Characteristics

Garage Square Feet: 500
Parking Lot: Yes
Paved Lot: Yes
Unassigned: Yes

Public Survey Info

Range#: 24
Section#: 03
Township#: 28

Sale Options

Sale Includes: Building, Land, Leases, Rental License

Unit 1

Unit Number: Yes
Monthly Rent: 1600
Full Baths: Yes
Total Bathrooms: Yes
Total Bedrooms: 2
Total Rooms: 6
Level: Main Level
Unit Total SqFt: 1090
Leased?: Yes
Lease Expiration Date: 2026-02-17

Unit 2

No. of 2 Bedroom Units: 4
Full Baths: Yes
Lease Expiration Date: 2026-02-17
Leased?: Yes
Level: Main Level
Monthly Rent: 1600
Total Bathrooms: Yes
Total Bedrooms: 2
Total Rooms: 6
Unit Number: 2
Unit Total SqFt: 1090

Unit 3

No. of 3 Bedroom Units: Yes
Full Baths: Yes
Lease Expiration Date: 2026-02-17
Leased?: Yes
Level: 2nd Level
Monthly Rent: 1595
Total Bathrooms: Yes
Total Bedrooms: 2
Total Rooms: 6
Unit Number: 3
Unit Total SqFt: 1090

Unit 4

Full Baths: Yes
Lease Expiration Date: 2026-02-17
Leased?: Yes
Level: 2nd Level
Monthly Rent: 1275
Total Bathrooms: Yes
Total Bedrooms: 2
Total Rooms: 6
Unit Number: 4
Unit Total SqFt: 1090

Unit 5

Full Baths: 2
Lease Expiration Date: 2026-02-17
Leased?: Yes
Level: Below Ground
Monthly Rent: 2025
Total Bathrooms: 2
Total Bedrooms: 3
Total Rooms: 8
Unit Number: 5
Unit Total SqFt: 1890

Unit Details

Total Units: 5

Office/Member Info

Association: MAAR

Location, Tax and Other Information

Legal Description: LOT 012 BLOCK 004 BAKERS ADDN TO MPLS
Listing City: Minneapolis
Map Page: 120
Municipality: Minneapolis
School District: Minneapolis
School District Phone: 612-668-0000
Zip Plus 4: 4184
Property ID Number: 0302824320057
Tax Year: 2026
Tax Amount: 14934
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: This extensively remodeled five-unit apartment building represents a rare, turn-key investment opportunity with both immediate income and long-term upside. The property features four spacious two-bedroom, one-bath units and a highly desirable three-bedroom, two-bath unit, complemented by a two-car garage and additional off-street parking. Kitchens have been fully updated with new cabinetry, modern appliances, fresh countertops, and in-unit or on-site laundry options, while refinished flooring, updated paint, select new windows and doors, and refreshed bathrooms with new tile enhance tenant appeal throughout. Importantly for the discerning investor, the ownership approach prioritized durability and longevity—plumbing, electrical, and other behind-the-walls infrastructure were upgraded with a long-term hold strategy in mind, materially reducing future capital expenditure risk. All five units are currently leased. Additional tenant amenities include basement storage lockers and shared laundry. The sale is driven solely by the seller’s pursuit of a new business venture, creating a compelling opportunity to acquire a well-maintained, thoughtfully upgraded asset built for stable performance well into the future.
Directions: Lyndale Ave S to 3407

Accessible

None: Yes

Air Conditioning

Window Unit(s): Yes

Amenities Shared

Coin-op Laundry Owned: Yes

Amenities Unit

Ceiling Fan(s): Yes
Hardwood Floors: Yes
Kitchen Window: Yes
Main Floor Primary Bedroom: Yes
Natural Woodwork: Yes
Tile Floors: Yes
Washer/Dryer Hookup: Yes

Appliances

Dishwasher: Yes
Dryer: Yes
Microwave: Yes
Range: Yes
Refrigerator: Yes
Washer: Yes

Assumable Loan

Not Assumable: Yes

Basement

Egress Windows: Yes
Full: Yes
Storage Space: Yes
Storage/Locker: Yes

Construction Status

Previously Owned: Yes

Exterior

Stucco: Yes

Flooring

Wood: Yes

Foundation

Other: Yes

Fuel

Natural Gas: Yes

Heating

Boiler: Yes
Radiator: Yes

Lot Description

Public Transit (w/in 6 blks): Yes
Tree Coverage - Light: Yes

Owner Pays

Gas: Yes
Heat: Yes
Hot Water: Yes
Lawn: Yes
Maintenance/Repair: Yes
Snow Removal: Yes
Taxes: Yes
Trash Collection: Yes

Pool Description

None: Yes

Rental License Type

Standard: Yes

Road Frontage

Curbs: Yes
Paved Streets: Yes
Sidewalks: Yes
Storm Sewer: Yes
Township: Yes

Road Responsibility

Public Maintained Road: Yes

Roof

Flat: Yes
Rubber: Yes

Sewer

City Sewer/Connected: Yes

Shared Rooms

Other: Yes

Stories

Two: Yes

Topography

Level: Yes

Wall Description

Finished: Yes

Water

City Water/Connected: Yes

No. of Ranges

Five: Yes

No. of Refrigerators

Five: Yes

Tenant Pays

Cable TV: Yes
Electricity: Yes

On Site Utilities

Electric Separate: Yes
Heating Common: Yes
Hot Water Common: Yes

CMU Style

Apartments/Multi Family: Yes
Low Rise: Yes

Current Use

Residential: Yes

Loan Terms

Cash: Yes
Contract for Deed: Yes
Conventional: Yes
Special Funding: Yes
Other: Yes

Rent Rate per Foot

Per Month: Yes