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$389,900

6 Beds 2 Baths 2,849 SQFT 0.08 Acres
Type: Multi-Family

1518 Park Avenue
Minneapolis, MN 55404

MLS#: 7107968
Courtney Maas-Peker
Courtney Maas-Peker
The Real Estate Advantage
Realtor
Phone: 612.618.4823
Office: 952.224.8800
Presented by: Sanyu LLC

Property Description

 

Welcome to 1518 Park Ave, a turnkey investment opportunity with strong rental income potential. This duplex features two spacious two-story units, each offering 3 bedrooms and 1 bathroom, ideal for maximizing rental revenue. Both units include kitchens and baths, in-unit laundry, central AC, and off-street parking amenities that support higher rents and tenant retention. Major updates reduce near-term expenses, including a new roof (2023) with a 5-year workmanship warranty, new furnace in Unit 1 (Feb 2024), and newer water heaters (2024 & 2025). With strong rental comps, this property offers solid cash flow and cap rate potential. Located near downtown Minneapolis, U.S. Bank Stadium, HCMC, and the Convention Center, with easy access to transit, I-94, and 35W, ensuring consistent tenant demand.


 

Interior Features

Bedrooms

Total Bedrooms6

Bathrooms

Total Baths2

Other Interior Features

Above Grade Finished Area2,401 sqft
BasementOther, Partial
Basement (Y/N)Yes
Below Grade Finished Area448 sqft
FuelElectric, Natural Gas

General

AccessibilityNone
Additional Parcels Y/NNo
Carport Spaces2
CityMinneapolis
ContingencyNone
CountyHennepin
Directions35W North to E Grant Street, to E 16th St, West to Park Ave, North to 1518 Park Ave
Electric Expense0
Fuel Expense0
Garage Spaces0
Gross Income49200
HeatingForced Air
High School DistrictMinneapolis
Insurance Expense2195
Land Lease Y/NNo
Lender OwnedNo
LevelsTwo
Living Area2,849 sqft
Lot Size UnitsAcres
MaintenanceExpense2400
Net Operating Income44105
New ConstructionNo
Number Of Units Total2
Operating Expense2400
OwnerPaysInsurance, Repairs, Sewer, Taxes, Trash Collection, Water
PostalCityMinneapolis
Property SubtypeOther
Property TypeResidential Income
RoofAge 8 Years or Less
SewerCity Sewer/Connected
Standard StatusActive
Subdivision NameElliot & Abbotts Add
Tax Annual Amount$4,971
Tax Year2025
Tenant PaysElectricity, Fuel, Gas, Heat
Trash Expense1000
Water Sewer Expense1100
Year Built1900

Exterior

Building Area Total2,850 sqft
Foundation Area1,358 sqft
Lot Dimensions26x128x26x128
Lot Size Area0 sqft
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

$389,900

6 Beds 2 Baths 2,849 SQFT 0.08 Acres
Type: Multi-Family

1518 Park Avenue
Minneapolis, MN 55404

MLS#: 7107968
Courtney Maas-Peker
Courtney Maas-Peker
The Real Estate Advantage
Realtor
Phone: 612.618.4823
Office: 952.224.8800