3245 Penn Avenue N, Minneapolis, MN 55412

Minneapolis
Local realty services provided by:Better Homes and Gardens Real Estate Advantage One
3245 Penn Avenue N,Minneapolis, MN 55412
$300,000
  • 7 Beds
  • 4 Baths
  • 3,456 sq. ft.
  • Multi-family
  • Active
Listed by: john a stiles
Office: peritus real estate
MLS#:7133086
Source:ND_FMAAR

Price summary

  • Price:$300,000
  • Price per sq. ft.:$57.87

About this home

Excellent value-add opportunity in North Minneapolis — now offered at a reduced price. This classic 1925 fourplex offers strong upside for an investor or contractor looking to restore a solid multifamily asset and bring it back into cash-flowing condition. The building is currently vacant, is listed on the City of Minneapolis Vacant Building Registry, and is being sold as-is. The property experienced a fire in one unit and the front entry, and remediation work has already begun. Based on available information, the majority of the remaining work appears to be smoke and cosmetic restoration rather than structural in nature. Copper plumbing has been removed, so water is currently off, creating a clear, well-defined scope of work for the next owner. Previously, the building produced solid rental income ($1,500/mo for the 2BR units, $1,250/mo for the 1BR unit) and featured separate furnaces and water heaters, helping keep operating expenses low. The property includes a 4-stall detached...

Contact an agent

contact an agent

Yes, I would like more information. Please use and/or share my information with a BHGRE®  affiliated agent to contact me about my real estate needs. By clicking Send message, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a BHGRE®  affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (CENTURY 21® , Coldwell Banker® , Corcoran® , ERA® , Sotheby's International Realty® ). I acknowledge that I have read and agree to theTerms of useandPrivacy notice

Home facts

  • Year built:1925
  • Subdivision & Development:Rheems Add
  • Listing ID #:7133086
  • Added:7 day(s) ago
  • Updated:September 01, 2026 at 03:39 PM

Rooms and interior

  • Bedrooms:7
  • Total bathrooms:4
  • Living area:3,456 sq. ft.

Heating and cooling

  • Heating:Forced Air

Structure and exterior

  • Roof:Flat
  • Year built:1925
  • Building area:3,456 sq. ft.
  • Lot area:0.16 Acres
  • Construction Materials:Stucco

Utilities

  • Water:City Water/Connected
  • Sewer:City Sewer/Connected

Finances and disclosures

  • Price:$300,000
  • Price per sq. ft.:$57.87
  • Tax amount:$6,641

Parking

  • Garage spaces:4

New listings near 3245 Penn Avenue N