3605 S 3rd Ave Minneapolis, MN 55409

Listing details for 3605 S 3rd Ave, Minneapolis, MN 55409 : Public Remarks: Fantastic investment opportunity in the desirable Central neighborhood of South Minneapolis! This classic triplex blends timeless character with solid income potential and long-term upside. The property features updated mechanicals, newer vinyl thermopane windows, and three income-producing units currently rented at $1,575, $1,590, and $1,000 per month. Located in a highly walkable and bike-friendly area near transit, parks, restaurants, and the Midtown Greenway, this property offers strong tenant appeal and convenient access to everything South Minneapolis has to offer. Ideal for an owner-occupant seeking supplemental rental income or an investor looking for a stable multifamily asset in the urban core. Opportunity to convert currently rented nonconforming unit to conforming through the addition of an exterior staircase. Additional financial upside available through the City of Minneapolis 4D Affordable Housing Incentive Program, which can reduce property taxes by up to 40% annually if qualifying units are enrolled. Strong cash flow, classic charm, and future upside make this a compelling opportunity in one of Minneapolis’ most connected neighborhoods.