3520 12th Ave S
- Brand new roof installed in 2026
- Several units already renovated and turning at higher rents
- Clear rent upside remaining on unrenovated units
- 1BR and 2BR mix with on-site parking and shared laundry
- Less than a block from Powderhorn Park, 66 acres, lake, rec center, strong tenant demand driver
- 3 miles south of Downtown Minneapolis, 1.2 miles from Abbott Northwestern Hospital
- High walkability, strong transit access, bike-friendly corridor, low vacancy submarket
- Priced below replacement cost at $105K/door
- Stable in-place cash flow with value-add upside, not a turnaround, an upgrade
Property Description
A 21-unit multifamily asset in Minneapolis's Powderhorn Park neighborhood, priced below replacement cost with clear, executable upside. This is a straightforward value-add play: buy below market, renovate strategically, push rents, and force appreciation. The business plan is already written by the market. 21 units of 1BR and 2BR floor plans in a quiet, well-located residential building. On-site parking and shared laundry in place. Current rents are running below market for the submarket. A targeted unit rehab program, kitchens, baths, flooring, unlocks meaningful rent increases on turn. Comparable renovated units in Powderhorn are achieving premiums that make the math work. Investors who move early on the renovation cycle capture the most spread. Less than a block from Powderhorn Park, 66 acres, a lake, athletic fields, and a rec center. Three miles south of Downtown Minneapolis. Abbott Northwestern Hospital is 1.2 miles away. Strong transit access, high walkability, and bike-friendly streets. The kind of location that keeps occupancy stable through cycles. $105K/door in Minneapolis with room to run on rents and rehab. Stable existing cash flow, proven neighborhood, and a clear path to forced appreciation. Ideal for an operator or passive investor looking to deploy into a value-add multifamily with real meat on the bone.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,425,000 |
| No. of Units: | 21 |
| Year Built: | 1968 |
| Lot Size: | 0.43 Acres |
| Opportunity Zone: | No |
| Price per unit: | $115,476 |
| Property Website | Click Here |
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