3514 Grand Avenue S
Minneapolis, MN 55408
$825,000 - 48
A rare turnkey 2005-built triplex, with an extra studio/storage space, in one of Minneapolis's most in-demand rental submarkets — this property offers investors a stabilized asset with strong, consistent rents across all four units. The property has had zero vacancies in five years, and strong tenant quality and rental history make it a proven income producer from day one, not a projection. Current gross rents total $7,650 per month, or $91,800 annually. There's also a clear value-add lever: water can be separately metered so tenants cover their own usage, immediately improving NOI. Built in 2005, the property is newer construction than most of the surrounding rental stock, meaning lower near-term capex risk on major systems, and all the units feature modern kitchens, updated baths, and in-unit laundry — amenities that support premium rents and tenant retention. Located within walking distance to Uptown's restaurants, retail, and transit, the property benefits from the kind of walkability that keeps this submarket in consistent demand and supports long-term appreciation. With stabilized cash flow and a clear expense-reduction opportunity, this property offers rare in-place income in one of Uptown's tightest rental markets.
Listing Courtesy of: Real Broker, LLC
612-360-0306
| Listing Id: | 7079275 |
|---|---|
| List Price: | $825,000 |
| Property Type: | Residential Income |
| Property Sub Type: | Triplex |
| Status: | Active |
| Bedrooms Total: | 10 |
| Bathrooms Full: | 8 |
| Bathrooms Three Quarter: | 0 |
| Bathrooms Half: | 0 |
| Bathrooms One Quarter: | 0 |
| Living Area: | 4,900 |
| Tax Annual Amount: | $14,668 |
| Waterfront?: | No |
| City: | Minneapolis |
| Neighborhood: | 48 |
| County Or Parish: | Hennepin |
| Subdivision Name: | Bakers Add |
| Postal Code: | 55408 |
| Year Built: | 2005 |
| Number Of Units Total: | 3 |
| Above Grade Finished Area: | 3,600 |
| Accessibility Features: | None |
| Association Amenities: | None |
| Basement: | Yes |
| Basement: | Block, Egress Window(s), Finished |
| Bathrooms Total Integer: | 8 |
| Below Grade Finished Area: | 1,300 |
| Building Area Total: | 5400 |
| Directions: | I-35 to 35th-36th Street, west on 35th Street to Grand Avenue, south to property. |
| Electric Expense: | $440 |
| Fencing: | None |
| Foundation Area: | 1,800 |
| Fuel Expense: | 0 |
| Garage Spaces: | 3 |
| Gross Income: | $91,800 |
| Heating: | Forced Air |
| High School District: | Minneapolis |
| Insurance Expense: | $6,138 |
| Laundry Features: | In Unit |
| Levels: | Two |
| Listing Contract Date: | 2026-05-22 |
| Living Area Units: | Square Feet |
| Lot Size Area: | 0.13 |
| Lot Size Dimensions: | 45x129 |
| Lot Size Units: | Acres |
| Maintenance Expense: | $1,650 |
| Assessment Pending: | No |
| DPResource: | Yes |
| Foreclosure Status: | No |
| Fractional Ownership Yn: | No |
| Fuel: | Natural Gas |
| Garage Dimensions: | 20x30 |
| Garage Square Feet: | 600 |
| Lender Owned: | No |
| Owner Occupied: | No |
| Potential Short Sale: | No |
| Yearly/Seasonal: | Yearly |
| Number of Refrigerators: | Four |
| Rental License Type: | Standard |
| School District Number: | 1 |
| School District Phone: | 6126680000 |
| Tax With Assessments: | $14,668 |
| Operating Expense: | $15,981 |
| Other Expense: | $2,300 |
| Owner Pays: | Trash Collection, Water |
| Parcel Number: | 0302824320126 |
| Parking Features: | Detached Garage |
| Pool Features: | None |
| Postal City: | Minneapolis |
| Public Survey Range: | 24 |
| Public Survey Section: | 03 |
| Public Survey Township: | 28 |
| Road Frontage Type: | City Street |
| Road Responsibility: | Public Maintained Road |
| Roof: | Age Over 8 Years |
| Sewer: | City Sewer/Connected |
| State Or Province: | MN |
| Tax Year: | 2026 |
| Tenant Pays: | Other |
| Trash Expense: | $1,386 |
| Water Sewer Expense: | $4,067 |
| Water Source: | City Water/Connected |
| Zoning Description: | Residential-Multi-Family |
| Township: | Minneapolis |
| Above Grade Sq Ft Total: | 3600 |
| Below Grade Sq Ft Total: | 1800 |
| Main Level Finished Area: | 1800 |
| Patio Porch Type: | Terrace |
| For Sale Or Lease: | For Sale |
| Total Area: | 5,400 |
| Exterior Features: | Stone, Vinyl |
| Foundation Details: | Block |
| Rental License?: | Yes |
| School District Full Name: | 1 - Minneapolis |
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Regional Multiple Listing Service of Minnesota, Inc data last updated on October 08, 2026 04:23 PM - CT
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Property Last Updated: October 08, 2026 04:23 PM - CT
