226 Gramercy Avenue, Minneapolis, MN 55405 (MLS# 7128878)

226 Gramercy Avenue, Minneapolis, MN 55405

New Listing
$400,000
Property Type: Multi-Family Bedrooms: 3 Baths: 3 Square Footage: 4,553 Lot Size (sq. ft.): 6,534 Status: Active
Current Price: $400,000 List Date: 8/18/2026 Last Modified: 8/19/2026

Overview

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!

Listing Details MLS# 7128878

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
Main Floor Total SqFt
1368
Above Ground SqFt
3185
Below Grd Total SqFt
1368
Total SqFt
4553
Foundation Size
1368
Lot Size SqFt
6534
Style
(MF) Triplex
Total Finished Sqft
2664.00
Garage Stalls
2
Lot Dimensions
45x145
Assessment Pending
No

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

Contract Information

Contingency
None
Original List Price
400000
ListPrice
400000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
226
Street Name
Gramercy
Street Suffix
Avenue
Postal City
Minneapolis
County
Hennepin
State
MN
Zip Code
55405

Assessments

Tax With Assessments
7229
Assessment Balance
0

Building Information

Finished SqFt Above Ground
2664

More Information

Income and Expenses

Annual Gross Expenses
14577.58
Annual Gross Income
45000
Annual Insurance Expense
2921
Annual Water/Sewer Expense
4428
Total Annual Expenses
14577.58
Annual Caretaker Expense
0
Annual Electric Expense
0
Annual Fuel Expense
0
Annual Maintenance Expense
0
Annual Repair Expense
0
Annual Trash Expense
0
Misc Monthly Income
0
Misc. Annual Income
0

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Parking Characteristics

Garage Dimensions
27x21
Garage Door Height
7
Garage Door Width
10
Garage Square Feet
567
RV Access/Parking
Yes

Public Survey Info

Range#
24
Section#
21
Township#
29

Unit 1

Furnished?
No
Leased?
Yes
Level
Main Level
Unit Number
Yes
Annual Rent
18600
Finished SqFt
1270
Full Baths
Yes
Monthly Expense
Yes
Monthly Rent
1550
No. of Units Like This
Yes
Oth Parking Spaces
Yes
Total Baths
Yes
Total Bedrooms
3
Total Rooms
7

Unit 2

Furnished?
No
Leased?
No
Level
2nd Level
Unit Number
2
Annual Rent
13200
Finished SqFt
682
Full Baths
Yes
Monthly Expense
Yes
Monthly Rent
1100
No. of Units Like This
Yes
Total Baths
Yes
Total Rooms
4

Unit 3

Furnished?
No
Leased?
No
Level
2nd Level
Unit Number
3
Annual Rent
13200
Finished SqFt
430
Full Baths
Yes
Monthly Expense
Yes
Monthly Rent
1100
No. of Units Like This
Yes
Total Baths
Yes
Total Rooms
4

Unit Details

Total Units
3

Office/Member Info

Association
MAAR

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
Yes

Basement

Full
Yes
Owner Access
Yes
Unfinished
Yes

Construction Status

Previously Owned
Yes

Exterior

Stucco
Yes
Wood
Yes

Foundation

Combination
Yes
Concrete Block
Yes
Poured Concrete
Yes
Stone
Yes

Fuel

Natural Gas
Yes

Heating

Forced Air
Yes

Laundry

In Unit
Yes
Main Level
Yes

Lot Description

Public Transit (w/in 6 blks)
Yes

Owner Pays

Insurance
Yes
Sewer
Yes
Taxes
Yes
Trash Collection
Yes
Water
Yes

Patio, Porch and Deck Features

Front Porch
Yes
Rear Porch
Yes

Rental License Type

Standard
Yes

Sellers Terms

Cash
Yes
Conventional
Yes

Sewer

City Sewer/Connected
Yes

Stories

Two
Yes

Water

City Water/Connected
Yes

No. of Ranges

Three
Yes

No. of Refrigerators

Three
Yes

Tenant Pays

Cable TV
Yes
Electricity
Yes
Gas
Yes

Unit 1 Amenities

Historic/Period Millwork
Yes
Open Floor Plan
Yes
Hardwood Floors
Yes
Porch
Yes

Unit 1 Appliances

Dryer
Yes
Microwave
Yes
Range
Yes
Refrigerator
Yes
Washer
Yes

Unit 1 Bath Description

Main Floor Full Bath
Yes

Unit 1 Cooling

Window
Yes

Unit 1 Special Search

3 BR on One Level
Yes
Main Floor Laundry
Yes

Unit 2 Amenities

Open Floor Plan
Yes
Hardwood Floors
Yes
Kitchen Window
Yes
Porch
Yes

Unit 2 Appliances

Microwave
Yes
Range
Yes
Refrigerator
Yes

Unit 2 Bath Description

Upper Level Full Bath
Yes

Unit 2 Cooling

Window
Yes

Unit 2 Dining Room Description

Eat In Kitchen
Yes
Informal Dining Room
Yes
Living/Dining Room
Yes

Unit 3 Amenities

Hardwood Floors
Yes
Kitchen Window
Yes
Porch
Yes

Unit 3 Appliances

Microwave
Yes
Range
Yes
Refrigerator
Yes

Unit 3 Bath Description

Upper Level Full Bath
Yes

Unit 3 Cooling

Window
Yes

Unit 3 Dining Room Description

Eat In Kitchen
Yes
Living/Dining Room
Yes

Documents

IDX
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.
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