$400,000
Minneapolis, MN 55405
MLS# 7128878
3 beds | 3 baths | 4553 sqft
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Property Description
Solid Minneapolis triplex offering a strong rental history, consistent cash flow, and excellent owner-occupant potential! Features one spacious 3BR unit currently leased month-to-month with 60-day notice, plus two large vacant studios ready for new tenants. Major improvements include two new upper-unit furnaces in 2021, new roof in 2018, exterior repainting in 2023, and extensive insulation upgrades in 2023, including spray foam insulation in the walls and added attic insulation. Updated bathrooms, classic hardwood floors, and separate utilities with tenants paying their own gas and electric add to the appeal. Inviting front porches, a 2-car garage, and additional off-street parking. Conveniently located minutes from downtown Minneapolis, Bryn Mawr Park, Theodore Wirth Park, Utepils Brewing, the Minneapolis Farmers Market, and Metro Transit. A well-maintained property with steady rental demand—ideal for an investor or owner-occupant seeking rental income and long-term upside!
Details
Maps
Documents
Contract Information
Owner is an Agent?: No
Auction?: No
Status: Active
Contingency: None
Current Price: $400,000
Original List Price: 400000
ListPrice: 400000
List Date: 2026-08-18
Office/Member Info
Association: MAAR
General Property Information
Lot Measurement: Square Feet
Multiple PIDs?: No
Owner Occupied: No
Waterfront YN: No
Year Built: 1912
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Lot Dimensions: 45x145
Main Floor Total SqFt: 1368
Below Grd Total SqFt: 1368
Above Ground SqFt: 3185
Total SqFt: 4553
Total Finished Sqft: 2664.00
Foundation Size: 1368
Lot Size SqFt: 6534
Style: (MF) Triplex
Garage Stalls: 2
Assessment Pending: No
Bedrooms: 3
Baths Total: 3
Location, Tax and Other Information
Legal Description: LOT 004 SAM E ADAMS HOMESTEAD
Listing City: Minneapolis
Map Page: 106
Municipality: Minneapolis
School District: Minneapolis
School District Phone: 612-668-0000
Zip Plus 4: 1413
Property ID Number: 2102924340168
Tax Year: 2026
Tax Amount: 7229
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No
Directions & Remarks
Public Remarks: Solid Minneapolis triplex offering a strong rental history, consistent cash flow, and excellent owner-occupant potential! Features one spacious 3BR unit currently leased month-to-month with 60-day notice, plus two large vacant studios ready for new tenants. Major improvements include two new upper-unit furnaces in 2021, new roof in 2018, exterior repainting in 2023, and extensive insulation upgrades in 2023, including spray foam insulation in the walls and added attic insulation. Updated bathrooms, classic hardwood floors, and separate utilities with tenants paying their own gas and electric add to the appeal. Inviting front porches, a 2-car garage, and additional off-street parking. Conveniently located minutes from downtown Minneapolis, Bryn Mawr Park, Theodore Wirth Park, Utepils Brewing, the Minneapolis Farmers Market, and Metro Transit. A well-maintained property with steady rental demand—ideal for an investor or owner-occupant seeking rental income and long-term upside!
Directions: Glenwood Ave to Cedar Lk Rd. Go south 1 block to 2nd Ave N. Turn right onto Gramercy Ave N.
Accessible
None: 1
Assessments
Assessment Balance: 0
Tax With Assessments: 7229
Basement
Full: 1
Owner Access: 1
Unfinished: 1
Building Information
Finished SqFt Above Ground: 2664
Construction Status
Previously Owned: 1
Exterior
Stucco: 1
Wood: 1
Foundation
Combination: 1
Concrete Block: 1
Poured Concrete: 1
Stone: 1
Fuel
Natural Gas: 1
Heating
Forced Air: 1
Laundry
In Unit: 1
Main Level: 1
Lease Details
Land Leased: Not Applicable
Lot Description
Public Transit (w/in 6 blks): 1
Miscellaneous Information
Homestead: No
Owner Pays
Insurance: 1
Sewer: 1
Taxes: 1
Trash Collection: 1
Water: 1
Ownership
Fractional Ownership: No
Parking Characteristics
Garage Dimensions: 27x21
Garage Door Height: 7
Garage Door Width: 10
Garage Square Feet: 567
RV Access/Parking: 1
Patio, Porch and Deck Features
Front Porch: 1
Rear Porch: 1
Public Survey Info
Range#: 24
Section#: 21
Township#: 29
Rental License Type
Standard: 1
Sellers Terms
Cash: 1
Conventional: 1
Sewer
City Sewer/Connected: 1
Stories
Two: 1
Unit 1
Furnished?: No
Leased?: Yes
Level: Main Level
Unit Number: 1
Monthly Rent: 1550
Full Baths: 1
Total Rooms: 7
Annual Rent: 18600
Finished SqFt: 1270
Monthly Expense: 1
No. of Units Like This: 1
Oth Parking Spaces: 1
Total Baths: 1
Total Bedrooms: 3
Unit Details
Total Units: 3
Water
City Water/Connected: 1
Income and Expenses
Annual Caretaker Expense: 0
Annual Electric Expense: 0
Annual Fuel Expense: 0
Annual Gross Expenses: 14577.58
Annual Gross Income: 45000
Annual Insurance Expense: 2921
Annual Maintenance Expense: 0
Annual Repair Expense: 0
Annual Trash Expense: 0
Annual Water/Sewer Expense: 4428
Misc Monthly Income: 0
Misc. Annual Income: 0
Total Annual Expenses: 14577.58
No. of Ranges
Three: 1
No. of Refrigerators
Three: 1
Tenant Pays
Cable TV: 1
Electricity: 1
Gas: 1
Unit 1 Amenities
Historic/Period Millwork: 1
Open Floor Plan: 1
Hardwood Floors: 1
Porch: 1
Unit 1 Appliances
Dryer: 1
Microwave: 1
Range: 1
Refrigerator: 1
Washer: 1
Unit 1 Bath Description
Main Floor Full Bath: 1
Unit 1 Cooling
Window: 1
Unit 1 Special Search
3 BR on One Level: 1
Main Floor Laundry: 1
Unit 2
Furnished?: No
Leased?: No
Level: 2nd Level
Unit Number: 2
Annual Rent: 13200
Finished SqFt: 682
Full Baths: 1
Monthly Expense: 1
Monthly Rent: 1100
No. of Units Like This: 1
Total Baths: 1
Total Rooms: 4
Unit 2 Amenities
Open Floor Plan: 1
Hardwood Floors: 1
Kitchen Window: 1
Porch: 1
Unit 2 Appliances
Microwave: 1
Range: 1
Refrigerator: 1
Unit 2 Bath Description
Upper Level Full Bath: 1
Unit 2 Cooling
Window: 1
Unit 2 Dining Room Description
Eat In Kitchen: 1
Informal Dining Room: 1
Living/Dining Room: 1
Unit 3
Furnished?: No
Leased?: No
Level: 2nd Level
Unit Number: 3
Annual Rent: 13200
Finished SqFt: 430
Full Baths: 1
Monthly Expense: 1
Monthly Rent: 1100
No. of Units Like This: 1
Total Baths: 1
Total Rooms: 4
Unit 3 Amenities
Hardwood Floors: 1
Kitchen Window: 1
Porch: 1
Unit 3 Appliances
Microwave: 1
Range: 1
Refrigerator: 1
Unit 3 Bath Description
Upper Level Full Bath: 1
Unit 3 Cooling
Window: 1
Unit 3 Dining Room Description
Eat In Kitchen: 1
Living/Dining Room: 1
Location Tax and Other Information
House Number: 226
Street Name: Gramercy
Street Suffix: Avenue
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55405
Property Features
Accessible: None
Basement: Full; Owner Access; Unfinished
Construction Status: Previously Owned
Exterior: Stucco; Wood
Foundation: Combination; Concrete Block; Poured Concrete; Stone
Fuel: Natural Gas
Heating: Forced Air
Laundry: In Unit; Main Level
Lot Description: Public Transit (w/in 6 blks)
Owner Pays: Insurance; Sewer; Taxes; Trash Collection; Water
Parking Characteristics: RV Access/Parking
Rental License Type: Standard
Sellers Terms: Cash; Conventional
Sewer: City Sewer/Connected
Stories: Two
Tenant Pays: Cable TV; Electricity; Gas
Unit 1 Amenities: Historic/Period Millwork; Open Floor Plan; Hardwood Floors; Porch
Unit 1 Appliances: Dryer; Microwave; Range; Refrigerator; Washer
Unit 1 Bath Description: Main Floor Full Bath
Unit 1 Cooling: Window
Unit 1 Special Search: 3 BR on One Level; Main Floor Laundry
Unit 2 Amenities: Open Floor Plan; Hardwood Floors; Kitchen Window; Porch
Unit 2 Appliances: Microwave; Range; Refrigerator
Unit 2 Bath Description: Upper Level Full Bath
Unit 2 Cooling: Window
Unit 2 Dining Room Description: Eat In Kitchen; Informal Dining Room; Living/Dining Room
Unit 3 Amenities: Hardwood Floors; Kitchen Window; Porch
Unit 3 Appliances: Microwave; Range; Refrigerator
Unit 3 Bath Description: Upper Level Full Bath
Unit 3 Cooling: Window
Unit 3 Dining Room Description: Eat In Kitchen; Living/Dining Room
Water: City Water/Connected
Income and Expense Sheet - 226 Gramercy 
Listing Office: Edina Realty, Inc.
Last Updated: August - 19 - 2026
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. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
