1005 University Avenue SE, Minneapolis, MN 55414 (MLS# 7159629)

1005 University Avenue SE, Minneapolis, MN 55414

New Listing
$724,900
Property Type: Commercial Square Footage: 7,440 Lot Size (sq. ft.): 7,405 Status: Active
Current Price: $724,900 List Date: 10/14/2026 Last Modified: 10/14/2026

Overview

Description

Iconic Corner Location Offering Income Today and Redevelopment Potential 1005 University Avenue SE presents a rare opportunity to acquire an income-producing multifamily property on a prominent corner near the University of Minnesota. The approximately 7,405-square-foot site currently features a distinctive Victorian-style nine-unit building, offering investors the ability to maintain rental income while evaluating renovation, repositioning, or future redevelopment strategies. Located near campus, Dinkytown, transit, dining, and neighborhood amenities, the property benefits from strong visibility and consistent demand within one of Minneapolis’ most active university-area rental markets. This offering may appeal to multifamily investors, student-housing operators, and developers seeking a well-located urban infill opportunity with both current income and long-term upside. Any redevelopment potential is subject to zoning, city approvals, and buyer verification.

Listing Details MLS# 7159629

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Other Parking Spaces
2
Owner Occupied
No
Waterfront YN
No
Year Built
1900
Yearly/Seasonal
Yearly
Zoning
Residential-Multi-Family
Foundation Size
2734
For Sale or Lease
For Sale
Acres
0.17
Lot Dimensions
76 x 95
Assessment Pending
No

Property Features

Accessible: None Assumable Loan: Not Assumable CMU Style: Apartments/Multi Family Construction Status: Previously Owned Current Use: Residential Exterior: Wood Foundation: Stone Fuel: Other Heating: Boiler; Hot Water Loan Terms: Cash; Conventional On Site Utilities: Electric Common; Heating Common; Hot Water Common Owner Pays: All Utilities; Trash Collection; Water Parking Characteristics: Parking Lot Sewer: City Sewer/Connected Stories: Three Or More Tenant Pays: Broadband; Cable TV Water: City Water/Connected

Contract Information

Contingency
None
ListPrice
724900
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
1005
Street Name
University
Street Suffix
Avenue
Street Direction Suffix
SE
Postal City
Minneapolis
County
Hennepin
State
MN
Zip Code
55414
Complex/Dev/Subdivision
Saint Anthony Falls

Assessments

Tax With Assessments
16346

Building Information

Building Finished SqFt
4706
Building SqFt
7440

More Information

Income and Expenses

Annual Caretaker Expense
600
Annual Electric Expense
4810
Annual Fuel Expense
7743
Annual Gross Expenses
49813
Annual Gross Income
85620
Annual Insurance Expense
12154
Annual Maintenance Expense
2911
Annual Net Income
35807
Annual Trash Expense
2145
Annual Water/Sewer Expense
3104
Total Annual Expenses
49813

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Public Survey Info

Range#
24
Section#
24
Township#
29

Sale Options

Sale Includes
Building

Unit 1

No. of 1 Bedroom Units
5

Unit 2

No. of 2 Bedroom Units
2

Unit Details

Total Units
9

Unit Information

No. of Efficiency Units
2
IDX
Listing Office: Compass
Last Updated: October - 14 - 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.
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