Updated 1 day ago

$606,900

3845 Chicago AvenueMinneapolis, MN 55407

Type: Commercial

1931 Year Built

Description

This 6-unit apartment building is classic brownstone building built in 1931. It has five 2-bedroom units and one studio unit. Fully occupied remodeled units. Updated vinyl windows, roof replaced in 2010, six newer furnaces & electric meters and newer coin laundry in the basement. Tier 1 rental license and professionally managed by a reputable local management company. Located in south Minneapolis, the property is near several parks and lakes including Lakes Nokomis, Hiawatha and Powderhorn. No lack of supply of restaurants and retail in the neighborhood.

MLS ID: 6768264

Directions: I-35W N - Follow I-35W N to 2nd Ave S in Minneapolis. Take exit 14 from I-35W N - Follow E 36th St, Portland Ave S and E 39th St to Chicago Ave

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Property Details

Essential Details

MLS #: 6768264

Listing courtesy of: Metro Group Real Estate

Price: $606,900

Type: Commercial

Contingency: None

Foreclosure: No

Zoning: Residential-Multi-Family, Residential-Single Family

Current Use: Residential

Total Units: 6

Annual Gross Income: $89,346

Net Operating Income: $48,556

Operating Expense: $40,567

Annual Gross Expense: $40,567

Annual Electric Expense: $900

Annual Fuel Expense: $2,100

Annual Insurance Expense: $6,700

Annual Maintenance Expense: $2,000

Annual Other Expense: $2,000

Annual Annual Expense: $4,500

Annual Water/Sewer Expense: $2,350

Tenant Pays: Electricity

Owner Pays: Electricity, Gas, Grounds Care, Repairs, Sewer, Snow Removal, Trash Collection

Parking Features: Paved

Other Parking Spaces: 5

Building Details

Owner Occupied: No

Construction Materials: Brick/Stone

AccessibilityFeatures: None

Heating: Forced Air

Cooling: Window Unit(s)

Style: Apartment

Year Built: 1931

Foundation Area: 1,790

Amenities - Association: Coin-op Laundry Owned

Sewer: City Sewer - In Street

Water Source: City Water - In Street

Utilities: Electric Common, Heating Common, Hot Water Common

Lot Details

Complex/Dev/Sub Name: Chicago Ave Park

Lot Dimensions: 46.00 X 122.00

School Information

District: Minneapolis

District Number: 1

District Phone: 612-668-0000

Community Information

County: Hennepin

Survey Range: 24

Survey Section: 11

Survey Township: 28

Taxes

Tax Year: 2025

Tax Amount: $11,288

Assessment Pending: No

Taxes w/Assessments: $11,288

This listing was last updated by Metro Group Real Estate on 12/3/2025 at 11:57 am.

Information is deemed to be reliable, but is not guaranteed. Such information cannot be duplicated or distributed in any manner without the express written consent of the owning association. Data is deemed reliable but not guaranteed.

Records last updated at 12/5/2025 1:45 am.

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity^SM Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Castle Realty of Twin Cities are marked with the Broker Reciprocity^SM logo or the Broker Reciprocity^SM thumbnail logo (little black house) and detailed information about them includes the name of the listing brokers.

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