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$579,000

5 Beds 3 Baths 2,775 SQFT 0.12 Acres
Type: Multi-Family

3024 Chicago Avenue
Minneapolis, MN 55407

MLS#: 7052375
Ted Bergstrom
Ted Bergstrom
The Real Estate Advantage
Agent
Phone: 612.723.5444
Office: 952.224.8800
Presented by: MRG Realty Partners, LLC

Property Description

 

Rare opportunity to own a highly unique piece of Minneapolis history — this 1908 triplex at 3024 Chicago Avenue has been held by the same family since it was built, now offered to the public for the very first time. 3024 offers two spacious 2BR/1BA units and a studio attic, featuring hardwood floors, natural woodwork, built-ins, and three porches. Included with the sale is the fully renovated carriage house ADU at 3026 Chicago Avenue (same parcel) — a private turnkey 1BR/1BA home with a beautiful modern kitchen, in-unit washer/dryer, and furniture which is included in the sale as well. 3026 was previously rented at $2,100/month. An ideal setup for an owner-occupant seeking added privacy or an investor looking to maximize returns across multiple income streams. Recent combined current rents of $5,600/month with market upside. Great location just blocks from Abbott Northwestern and Children's Hospitals, with easy access to I-35W, Midtown Global Market, and the Lake Street corridor. Fast connections to Downtown Minneapolis and Mall of America via the D Line Rapid METRO. Owner currently pays all utilities. Four off-street parking spaces. Coin-op laundry. Strong in-place cash flow with clear rent upside — a true value-add opportunity in a high-demand rental submarket. All measurements deemed reliable but not guaranteed; buyer to verify.


 

Interior Features

Bedrooms

Total Bedrooms5

Bathrooms

Total Baths3

Other Interior Features

Above Grade Finished Area2,775 sqft
BasementFull
Basement (Y/N)Yes
Below Grade Finished Area0 sqft
Foundation Dimensions41x25
FuelNatural Gas
Garage Dimensions0
Garage Door Width0 sqft
Garage Square Feet0
Laundry FeaturesIn Basement, Common Area

General

AccessibilityNone
Additional Parcels Y/NNo
Association AmenitiesCoin-op Laundry Owned
Carport Spaces0
CityMinneapolis
ContingencyNone
CountyHennepin
DirectionsChicago to Lake or Lake to Chicago
Electric100 Amp Service
Electric Expense1824
Fuel Expense3120
Garage Spaces0
Gross Income67200
HeatingBoiler
High School DistrictMinneapolis
Insurance Expense2217
Land Lease Y/NNo
Lender OwnedNo
LevelsTwo
Living Area2,775 sqft
Lot Size UnitsAcres
MaintenanceExpense0
Net Operating Income42727
New ConstructionNo
Number Of Units Total4
Operating Expense18473
OwnerPaysAll Utilities
PostalCityMinneapolis
Property SubtypeTriplex
Property TypeResidential Income
SewerCity Sewer/Connected
Standard StatusActive
Tax Annual Amount$7,710
Tax Year2026
Trash Expense1114
Water Sewer Expense1962
Year Built1908
Zoning DescriptionResidential-Multi-Family

Exterior

Building Area Total3,745 sqft
Foundation Area1,008 sqft
Lot Dimensions123x41
Lot Size Area0 sqft
Parking FeaturesDriveway - Other Surface, Open
Water SourceCity Water/Connected
Waterfront Y/NNo

Additional Details

Price History

Schools 

Elementary School N/A
Middle School N/A
High School N/A

  

Similar Properties

$579,000

5 Beds 3 Baths 2,775 SQFT 0.12 Acres
Type: Multi-Family

3024 Chicago Avenue
Minneapolis, MN 55407

MLS#: 7052375
Ted Bergstrom
Ted Bergstrom
The Real Estate Advantage
Agent
Phone: 612.723.5444
Office: 952.224.8800