REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1
Est. payment /mo
New
2870 & 2876 & 2882 Humboldt AVE S Minneapolis, MN 55408
0.49 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision Deans Add
MLS Listing ID 7107359
Year Built 1915
Annual Tax Amount $130,803
Tax Year 2026
Contingent None
Lot Size 0.490 Acres
Lot Dimensions 128X168
Property Description
* 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.
* 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.
Location
State MN
County Hennepin
Zoning Residential-Multi-Family
Interior
Heating Boiler
Inclusions Building, Leases
Fireplace No
Exterior
Parking Features Parking Lot
Utilities Available Electric Common, Heating Common, Hot Water Common
Present Use Residential
Building
Foundation 3611
Sewer City Sewer/Connected
Water City Water/Connected
New Construction false
Schools
School District Minneapolis
Listed by Mark Hulsey • RE/MAX Results