3408 Stevens Avenue, Minneapolis, MN 55408 (MLS# 6826491)

3408 Stevens Avenue, Minneapolis, MN 55408

$750,000
Property Type: Commercial Lot Size (sq. ft.): 6,098 Status: Active
Current Price: $750,000 List Date: 1/02/2026 Last Modified: 8/27/2026

Overview

Description

A 6-unit multifamily investment opportunity located in the Lyndale neighborhood of South Minneapolis. The property is comprised of four two-bedroom units & two one-bedroom units. A new high-efficiency boiler & two new water heaters were installed in 2024. The windows were replaced in 2019. The building is currently enrolled in the Minneapolis 4D program, providing a significant reduction in annual property tax expense. There is off-street parking in the back of the building; one space for each unit. All current tenants are on month-to-month leases. The property is well located for easy access to I-35W as well as for easy access to numerous neighborhood amenities toward Lyndale Avenue & beyond.

Listing Details MLS# 6826491

General Property Information

Lot Measurement
Acres
Multiple PIDs?
No
Other Parking Spaces
6
Waterfront YN
No
Year Built
1923
Yearly/Seasonal
Yearly
Zoning
Residential-Multi-Family
Foundation Size
6098
For Sale or Lease
For Sale
Acres
0.14
Lot Dimensions
45 x 131 x 45 x131
Assessment Pending
Unknown

Property Features

Accessible: None CMU Style: Apartments/Multi Family Construction Status: Previously Owned Current Use: Residential Exterior: Stucco Foundation: Concrete Block Fuel: Natural Gas Heating: Boiler Lock Box Type: Combo On Site Utilities: Electric Separate Parking Characteristics: Parking Lot Sewer: City Sewer/Connected Water: City Water/Connected

Contract Information

Contingency
None
ListPrice
750000
Owner is an Agent?
No
Auction?
No

Location Tax and Other Information

House Number
3408
Street Name
Stevens
Street Suffix
Avenue
Postal City
Minneapolis
County
Hennepin
State
MN
Zip Code
55408
Complex/Dev/Subdivision
Nicollet Ave Add

Assessments

Tax With Assessments
2652

Building Information

Building Finished SqFt
5490

More Information

Income and Expenses

Annual Gross Expenses
36379
Annual Gross Income
92218
Annual Net Income
55839

Lease Details

Land Leased
Not Applicable

Miscellaneous Information

Homestead
No

Ownership

Fractional Ownership
No

Public Survey Info

Range#
24
Section#
03
Township#
28

Sale Options

Sale Includes
Building

Unit 1

No. of 1 Bedroom Units
2

Unit 2

No. of 2 Bedroom Units
4

Unit Details

Total Units
6
IDX
Listing Office: MRG Realty Partners, LLC
Last Updated: August - 27 - 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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