Outstanding value-add investment opportunity in South Minneapolis. This 100%-occupied, 21-unit apartment building at 2725 Pleasant Ave S (1 efficiency, 3 studio/1-bath, 15 one-bedrooms, 2 two-bedrooms, plus 25 surface parking spaces and on-site laundry) offers a buyer immediate cash flow with significant upside as rents move to market.
15 units have already been updated, including 5 with new bathrooms, the 21st unit is currently being renovated and reactivated for an added income stream. Major capital items are already addressed — a full roof and parapet wall rebuild ($350,000, 2023) and a 2026 sewer main lining — plus fresh common-area paint and new hallway carpet on order.
A building-wide RUBS program was implemented within the past 12 months, shifting water/sewer, trash, and electric/gas costs to tenants, and the 25 parking spaces (currently free) offer a straightforward paid-parking upside.
Seller financing may be available for qualified buyers.
Listing Courtesy of: Fuze Real Estate
612-886-5543
| Listing Id: | 7141393 |
|---|---|
| List Price: | $2,400,000 |
| Property Type: | Commercial Sale |
| Status: | Active |
| Bathrooms Full: | 0 |
| Bathrooms Three Quarter: | 0 |
| Bathrooms Half: | 0 |
| Bathrooms One Quarter: | 0 |
| Tax Annual Amount: | $34,164 |
| Waterfront?: | No |
| City: | Minneapolis |
| Neighborhood: | 84 |
| County Or Parish: | Hennepin |
| Subdivision Name: | J T Blaisdells Rev Add |
| Postal Code: | 55408 |
| Year Built: | 1968 |
| Number Of Units Total: | 21 |
| Accessibility Features: | Other |
| Basement: | No |
| Current Use: | Residential |
| Directions: | From 35 W S, Exit on E Lake Street and head West, then North on 1st Ave S, then East on W27th St., South on Pleasant to 2725 Pleasant. |
| Foundation Area: | 1 |
| Garage Spaces: | 0 |
| Gross Income: | $201,000 |
| Heating: | Other |
| High School District: | Minneapolis |
| Inclusions: | Building, Leases |
| Levels: | Two |
| Listing Contract Date: | 2026-09-09 |
| Living Area Units: | Square Feet |
| Lot Size Area: | 0.34 |
| Lot Size Dimensions: | 0 |
| Lot Size Units: | Acres |
| Net Operating Income: | $97,000 |
| Assessment Pending: | No |
| Foreclosure Status: | No |
| Fractional Ownership Yn: | No |
| Fuel: | Other |
| Lender Owned: | No |
| Owner Occupied: | No |
| Potential Short Sale: | No |
| Yearly/Seasonal: | Yearly |
| Rental License Type: | Standard |
| School District Number: | 1 |
| School District Phone: | 6126680000 |
| Tax With Assessments: | $34,164 |
| Operating Expense: | $105,000 |
| Parcel Number: | 3402924310071 |
| Parking Features: | Parking Lot |
| Postal City: | Minneapolis |
| Public Survey Range: | 24 |
| Public Survey Section: | 34 |
| Public Survey Township: | 29 |
| Sewer: | City Sewer/Connected |
| State Or Province: | MN |
| Tax Year: | 2026 |
| Utilities: | None Available |
| Water Source: | City Water - In Street |
| Zoning Description: | Business/Commercial |
| Township: | Minneapolis |
| For Sale Or Lease: | For Sale |
| Exterior Features: | Other |
| Foundation Details: | Other |
| Rental License?: | Yes |
| Commercial Style Type: | Apartments/Multi Family |
| School District Full Name: | 1 - Minneapolis |
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Regional Multiple Listing Service of Minnesota, Inc data last updated on October 08, 2026 04:16 PM - CT
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Property Last Updated: October 08, 2026 04:16 PM - CT
