$5,600,000
Minneapolis, MN 55408
MLS# 7107359
43332 sqft
1 / 63
Property Description
* Sale Price: $5,600,000 * Rare 60 Unit (3 Building) Brownstone Multifamily Portfolio * Located on a 0.49-acre site totaling approximately 21,344 sf * Corner of Lagoon & Humboldt, across from Lunds & Byerly's, near The Lakes, and next to the Midtown Greenway Trail * Longtime family-owned asset * 95% Occupancy - Desirable unit mix: (18) studios, (41) 1 bedrooms, (1) 2 bedroom. * 3 Parcels: 2870 (33-029-24-34-0014), 2882 (33-029-24-34-0016), land parcel between the buildings (33-029-24-34-0015) * Stabilized property with true value-add upside through rent growth, unit/common area improvements and management/operational efficiencies * Perfect 1031 Tax exchange and Investment * Opportunity to acquire three adjacent multifamily buildings in a single transaction (management efficiency) * Desirable Uptown/Lagoon Ave location with excellent access to nearby restaurant, retail, entertainment, parks & transit * Flexible zoning with 2870 Humboldt Avenue South zoned UN3 and 2876/2882 Humboldt Avenue South zoned RM1, allowing for continued multifamily use in an urban residential setting.
Details
Maps
Contract Information
Status: Active
Current Price: $5,600,000
Contingency: Inspection
ListPrice: 5600000
List Date: 2026-07-10
Owner is an Agent?: No
Auction?: No
General Property Information
Lot Measurement: Acres
Multiple PIDs?: Yes
Waterfront YN: No
Year Built: 1915
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 3611
For Sale or Lease: For Sale
Acres: 0.49
Lot Dimensions: 128X168
Assessment Pending: No
Additional Parcels Information
Property ID #2: 3302924340015
Property ID #3: 3302924340016
Assessments
Tax With Assessments: 130803
Basement
Foundation Dimensions: 168x128
Building Information
Building Finished SqFt: 43332
Building SqFt: 43332
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
Homestead: No
Ownership
Fractional Ownership: No
Public Survey Info
Range#: 24
Section#: 33
Township#: 29
Sale Options
Sale Includes: Building, Leases
Unit 1
No. of 1 Bedroom Units: 41
Unit Details
Total Units: 60
Unit 2
No. of 2 Bedroom Units: 1
Unit Information
No. of Efficiency Units: 18
Location Tax and Other Information
House Number: 2870 & 2876 & 2882
Street Name: Humboldt
Street Suffix: Avenue
Street Direction Suffix: S
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55408
Complex/Dev/Subdivision: Deans Add
Property Features
Accessible: None
CMU Style: Apartments/Multi Family; Freestanding
Construction Status: Previously Owned
Current Use: Residential
Exterior: Brick/Stone
Foundation: Concrete Perimeter
Fuel: Natural Gas
Heating: Boiler
On Site Utilities: Electric Common; Heating Common; Hot Water Common
Parking Characteristics: Parking Lot
Sewer: City Sewer/Connected
Water: City Water/Connected
Listing Office: RE/MAX Results
Last Updated: October - 05 - 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.
