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$369,700

7 Beds 3 Baths 3,175 SQFT 0.09 Acres
Type: Multi-Family

3310 Chicago Avenue
Minneapolis, MN 55407

MLS#: 7162268
Ted Bergstrom
Ted Bergstrom
The Real Estate Advantage
Agent
Phone: 612.723.5444
Office: 952.224.8800
Presented by: LPT Realty, LLC

Property Description

 

Exceptional investment opportunity! This versatile Minneapolis triplex features 7 bedrooms, 3 bathrooms, and an active short-term rental operation fully licensed by the City of Minneapolis. With projected annual rental income of $48,000 through a combination of short-term and long-term tenants, this property offers flexibility and income potential for investors. Highlights include 7 off-street parking spaces on a concrete driveway, coin-operated basement laundry, a roof approximately 5 years old, and updated HVAC and air conditioning approximately 3 years ago. An additional basement bedroom offers future potential, subject to egress and applicable requirements. Whether you're expanding your portfolio or exploring multiple rental strategies, this property presents an exciting opportunity to invest in Minneapolis real estate!


 

Interior Features

Bedrooms

Total Bedrooms7

Bathrooms

Total Baths3

Other Interior Features

Above Grade Finished Area2,836 sqft
BasementPartially Finished
Basement (Y/N)Yes
Below Grade Finished Area339 sqft
FuelNatural Gas
Laundry FeaturesIn Basement

General

AccessibilityNone
Additional Parcels Y/NNo
CityMinneapolis
Construction MaterialsBlock, Concrete
ContingencyNone
CountyHennepin
DirectionsRight on Chicago Ave. S across from the school.
ElectricCircuit Breakers
Electric Expense1584
Fuel Expense3120
Garage Spaces0
Gross Income48000
HeatingForced Air
High School DistrictMinneapolis
Insurance Expense3455
Land Lease Y/NNo
Lender OwnedNo
LevelsTwo
Living Area3,175 sqft
Lot Size UnitsSquare Feet
MaintenanceExpense0
Net Operating Income37040
New ConstructionNo
Number Of Units Total3
Operating Expense10960
OwnerPaysAll Utilities, Electricity, Gas, Hot Water, Insurance, Repairs, Snow Removal, Taxes, Trash Collection, Water
PostalCityMinneapolis
Property SubtypeTriplex
Property TypeResidential Income
RoofAge 8 Years or Less, Asphalt
SewerCity Sewer/Connected
Standard StatusActive
Subdivision NameD W Ellis Add
Tax Annual Amount$5,122
Tax Year2026
Trash Expense816
Water Sewer Expense1277
Year Built1889
Zoning DescriptionResidential-Multi-Family

Exterior

Building Area Total3,956 sqft
FencingChain Link
Foundation Area1,120 sqft
Lot Dimensions123x33
Lot Size Area4,059 sqft
Parking FeaturesConcrete, Paved Lot
Road Frontage TypeCity Street, Sidewalks
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

$369,700

7 Beds 3 Baths 3,175 SQFT 0.09 Acres
Type: Multi-Family

3310 Chicago Avenue
Minneapolis, MN 55407

MLS#: 7162268
Ted Bergstrom
Ted Bergstrom
The Real Estate Advantage
Agent
Phone: 612.723.5444
Office: 952.224.8800