3407 Lyndale Avenue S, Minneapolis, MN 55408 (MLS# 7023006)

3407 Lyndale Avenue S, Minneapolis, MN 55408

$899,000
Property Type: Commercial Bedrooms: 11 Baths: 6 Square Footage: 6,543 Lot Size (sq. ft.): 5,663 Status: Active
Current Price: $899,000 List Date: 2/20/2026 Last Modified: 9/10/2026

Overview

Description

This extensively remodeled five-unit apartment building represents a rare, turn-key investment opportunity with both immediate income and long-term upside. The property features four spacious two-bedroom, one-bath units and a highly desirable three-bedroom, two-bath unit, complemented by a two-car garage and additional off-street parking. Kitchens have been fully updated with new cabinetry, modern appliances, fresh countertops, and in-unit or on-site laundry options, while refinished flooring, updated paint, select new windows and doors, and refreshed bathrooms with new tile enhance tenant appeal throughout. Importantly for the discerning investor, the ownership approach prioritized durability and longevity—plumbing, electrical, and other behind-the-walls infrastructure were upgraded with a long-term hold strategy in mind, materially reducing future capital expenditure risk. All five units are currently leased. Additional tenant amenities include basement storage lockers and shared ...

Listing Details MLS# 7023006

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Other Parking Spaces
6
Owner Occupied
No
Waterfront YN
No
Year Built
1925
Yearly/Seasonal
Yearly
Zoning
Business/Commercial, Residential-Multi-Family
Foundation Size
2181
Garage Stalls
2
Power Company
Xcel Energy
For Sale or Lease
For Sale
Acres
0.13
Lot Dimensions
45x121
Assessment Pending
No

Property Features

Accessible: None Air Conditioning: Window Unit(s) Amenities Shared: Coin-op Laundry Owned Amenities Unit: Ceiling Fan(s); Hardwood Floors; Kitchen Window; Main Floor Primary Bedroom; Natural Woodwork; Tile Floors; Washer/Dryer Hookup Appliances: Dishwasher; Dryer; Microwave; Range; Refrigerator; Washer Assumable Loan: Not Assumable Basement: Egress Windows; Full; Storage Space; Storage/Locker CMU Style: Apartments/Multi Family; Low Rise Construction Status: Previously Owned Current Use: Residential Exterior: Stucco Flooring: Wood Foundation: Other Fuel: Natural Gas Heating: Boiler; Radiator Loan Terms: Cash; Contract for Deed; Conventional; Special Funding; Other Lock Box Type: Combo Lot Description: Public Transit (w/in 6 blks); Tree Coverage - Light On Site Utilities: Electric Separate; Heating Common; Hot Water Common Owner Pays: Gas; Heat; Hot Water; Lawn; Lawn; Maintenance/Repair; Snow Removal; Taxes; Trash Collection Parking Characteristics: Parking Lot; Paved Lot; Unassigned Pool Description: None Rent Rate per Foot: Per Month Rental License Type: Standard Road Frontage: Curbs; Paved Streets; Sidewalks; Storm Sewer; Township Road Responsibility: Public Maintained Road Roof: Flat; Rubber Sewer: City Sewer/Connected Shared Rooms: Other Stories: Two Tenant Pays: Cable TV; Electricity Topography: Level Wall Description: Finished Water: City Water/Connected

Contract Information

Contingency
None
ListPrice
899000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
3407
Street Name
Lyndale
Street Suffix
Avenue
Street Direction Suffix
S
Postal City
Minneapolis
County
Hennepin
State
MN
Zip Code
55408
Complex/Dev/Subdivision
Bakers Add

Assessments

Tax With Assessments
14934

Building Information

Building Finished SqFt
5562
Building SqFt
6543

More Information

Income and Expenses

Annual Fuel Expense
4039
Annual Gross Expenses
9274
Annual Gross Income
97140
Annual Insurance Expense
7059
Annual Net Income
97140
Annual Water/Sewer Expense
5009
Total Annual Expenses
9274

Lease Details

Land Leased
Not Applicable

Lock Box Type

Lock Box Source
MAAR

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Parking Characteristics

Garage Square Feet
500

Public Survey Info

Range#
24
Section#
03
Township#
28

Sale Options

Sale Includes
Building, Land, Leases, Rental License

Unit 1

Unit Number
Yes
Monthly Rent
1600
Full Baths
Yes
Total Bathrooms
Yes
Total Bedrooms
2
Total Rooms
6
Level
Main Level
Unit Total SqFt
1090
Leased?
Yes
Lease Expiration Date
2026-02-17

Unit 2

No. of 2 Bedroom Units
4
Full Baths
Yes
Lease Expiration Date
2026-02-17
Leased?
Yes
Level
Main Level
Monthly Rent
1600
Total Bathrooms
Yes
Total Bedrooms
2
Total Rooms
6
Unit Number
2
Unit Total SqFt
1090

Unit 3

No. of 3 Bedroom Units
Yes
Full Baths
Yes
Lease Expiration Date
2026-02-17
Leased?
Yes
Level
2nd Level
Monthly Rent
1595
Total Bathrooms
Yes
Total Bedrooms
2
Total Rooms
6
Unit Number
3
Unit Total SqFt
1090

Unit 4

Full Baths
Yes
Lease Expiration Date
2026-02-17
Leased?
Yes
Level
2nd Level
Monthly Rent
1275
Total Bathrooms
Yes
Total Bedrooms
2
Total Rooms
6
Unit Number
4
Unit Total SqFt
1090

Unit 5

Full Baths
2
Lease Expiration Date
2027-07-01
Leased?
Yes
Level
Below Ground
Monthly Rent
1800
Total Bathrooms
2
Total Bedrooms
3
Total Rooms
8
Unit Number
5
Unit Total SqFt
1890

Unit Details

Total Units
5
IDX
Listing Office: RE/MAX Results
Last Updated: September - 10 - 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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