2542 Garfield Avenue, Minneapolis, MN 55405 (MLS# 7142239)

2542 Garfield Avenue, Minneapolis, MN 55405

$339,000
Property Type: Multi-Family Bedrooms: 3 Baths: 2 Square Footage: 2,911 Lot Size (sq. ft.): 4,356 Status: Active
Current Price: $339,000 List Date: 9/18/2026 Last Modified: 10/15/2026

Overview

Description

Prime Uptown/Whittier duplex offering an ideal combination of location, character and income potential. Situated in one of Minneapolis’ most walkable neighborhoods, just steps from Lyndale Avenue restaurants, coffee shops, shopping and nightlife, with convenient access to downtown, Lake of the Isles, Bde Maka Ska and public transit. This classic 1918 duplex offers approximately 2,211 square feet, hardwood floors and the charm of original Minneapolis architecture. An excellent opportunity for investors or owner occupants. Live in one unit and rent the other to help offset monthly housing costs. The property has a long history as a rental and is well positioned in a high demand rental area near downtown employers, hospitals, universities and entertainment. Four off-street parking spaces add significant convenience and value for both residents and tenants. Major exterior improvements include a new roof and new siding in 2024. The manageable building and lot size make this an appealing ...

Listing Details MLS# 7142239

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Owner Occupied
No
Waterfront YN
No
Year Built
1918
Yearly/Seasonal
Yearly
Zoning
Residential-Multi-Family
Main Floor Total SqFt
1036
Above Ground SqFt
2211
Below Grd Total SqFt
700
Total SqFt
2911
Foundation Size
908
Style
(MF) Duplex Up and Down
Total Finished Sqft
2211.00
Lot Dimensions
40x118.6
Acres
0.1
Assessment Pending
Yes

Property Features

Accessible: None Amenities Shared: Porch Basement: Full Construction Status: Previously Owned Exterior: Wood Foundation: Combination Fuel: Natural Gas Heating: Hot Water Laundry: Common Area; Lower Level Lot Description: Public Transit (w/in 6 blks); Tree Coverage - Medium Owner Pays: Insurance; Taxes; Trash Collection; Water Pool Description: None Road Frontage: City Street; Curbs; Paved Streets; Sidewalks Roof: Asphalt Shingles Sewer: City Sewer/Connected Stories: Two Tenant Pays: Broadband; Electricity; Gas; Lawn; Snow Removal Unit 1 Amenities: Hardwood Floors; Kitchen Window; Natural Woodwork Unit 1 Appliances: Dryer; Microwave; Range; Refrigerator; Washer Unit 1 Bath Description: Main Floor Full Bath Unit 1 Cooling: None Unit 1 Dining Room Description: Separate/Formal Dining Rm Unit 1 Family Room Characteristics: Main Level Unit 1 Fireplace Char: Living Room Unit 1 Special Search: Main Floor Bedroom Unit 2 Bath Description: Main Floor Full Bath Unit 2 Cooling: None Water: City Water/Connected

Contract Information

Contingency
None
Original List Price
360000
ListPrice
339000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
2542
Street Name
Garfield
Street Suffix
Avenue
Postal City
Minneapolis
County
Hennepin
State
MN
Zip Code
55405
Complex/Dev/Subdivision
Lot 012 Block 001 Garfield Ave

Assessments

Tax With Assessments
7061.4

Building Information

Finished SqFt Above Ground
2211

More Information

Income and Expenses

Annual Gross Expenses
2280
Annual Gross Income
36360
Annual Net Income
34080

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

DP Resource
Yes
Homestead
No

Ownership

Fractional Ownership
No

Unit 1

Furnished?
No
Leased?
No
Level
Main Level
Unit Number
Yes
# of Fireplaces
Yes
Annual Rent
18000
Finished SqFt
1036
Full Baths
Yes
Monthly Expense
190
Monthly Rent
1500
No. of Units Like This
Yes
Total Baths
Yes
Total Bedrooms
Yes
Total Rooms
5

Unit 2

Furnished?
No
Lease Expiration Date
2027-05-31
Leased?
Yes
Level
2nd Level
Unit Number
2
Annual Rent
18360
Finished SqFt
1175
Full Baths
Yes
Monthly Expense
190
Monthly Rent
1530
No. of Units Like This
Yes
Total Baths
Yes
Total Bedrooms
2
Total Rooms
5

Unit Details

Total Units
2

Documents

IDX
Listing Office: DRG
Last Updated: October - 15 - 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.
Search powered by FBS Products