For Sale Commercial MLS# 7107359

2870 & 2876 & 2882 Humboldt Avenue S

Minneapolis, MN 55408

$5,600,000

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About 2870 & 2876 & 2882 Humboldt Avenue S

* Call For Offers Date: August 21 by 5:00 PM * Sale Price: Negotiable * Rare 60 Unit (3 Building) Brownstone Multifamily Portfolio * Located on a 0.49-acre site totaling approximately 21,344 sf * Corner of Lagoon & Humboldt, across from Lunds & Byerly's, near The Lakes, and next to the Midtown Greenway Trail * Longtime family-owned asset * 95% Occupancy - Desirable unit mix: (18) studios, (41) 1 bedrooms, (1) 2 bedroom. * 3 Parcels: 2870 (33-029-24-34-0014), 2882 (33-029-24-34-0016), land parcel between the buildings (33-029-24-34-0015) * Stabilized property with true value-add upside through rent growth, unit/common area improvements and management/operational efficiencies * Perfect 1031 Tax exchange and Investment * Opportunity to acquire three adjacent multifamily buildings in a single transaction (management efficiency) * Desirable Uptown/Lagoon Ave location with excellent access to nearby restaurant, retail, entertainment, parks & transit * Flexible zoning with 2870 Humboldt Avenue South zoned UN3 and 2876/2882 Humboldt Avenue South zoned RM1, allowing for continued multifamily use in an urban residential setting.

Property details

Property

Type
commercial
MLS type
Commercial
Status
Active
Year built
1915
Living area
43,332 sqft
Price / sqft
$129
Lot
0.49
Original price
$1
MLS #
7107359

Interior

Features
Boiler
Heating
Boiler

Exterior & lot

Features
Stone, Parking Lot
Construction
Concrete Perimeter
Foundation
Concrete Perimeter
Lot
3302924340014, Residential
Parking
Parking Lot

Schools

District
Minneapolis Public School District

Utilities

Utilities
City Sewer/Connected, City Water/Connected, Electric Common, Heating Common, Hot Water Common
Water
City Water/Connected
Sewer
City Sewer/Connected

Financial

Financial
northstar
Annual tax
$130,803
Tax year
2026
Parcel
3302924340014

Location

Subdivision
Deans Add
County
Hennepin
Neighborhood
East Isles
Community
Hennepin, northstar, Minneapolis
Directions
Located on the corner of Humboldt Ave St & Lagoon Ave in Minneapolis, MN.

Location

Neighborhood
East Isles
Subdivision
Deans Add
School district
Minneapolis Public School District

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Listed by Mark K Hulsey, RE/MAX Results

Listing information is provided by the participating MLS / IDX program and is deemed reliable but not guaranteed. All information should be independently verified. Equal Housing Opportunity.