3245 Penn AVE N Minneapolis, MN 55412
7 Beds
4 Baths
3,456 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,456 sqft
Price per Sqft $94
Subdivision Rheems Add
MLS Listing ID 7000803
Bedrooms 7
Year Built 1925
Annual Tax Amount $6,390
Tax Year 2025
Contingent None
Lot Size 6,969 Sqft
Acres 0.16
Lot Dimensions 54x126
Property Sub-Type Quadruplex
Property Description
The property experienced a fire in one unit and the front entry, and remediation work has already begun. Based on available information, the majority of the remaining work appears to be smoke and cosmetic restoration, rather than structural in nature. Copper plumbing has been removed, so water is currently off, creating a clear but straightforward scope of work for the next owner.
Previously, the building produced solid income and featured separate furnaces and water heaters, helping keep operating expenses low. The property includes a 4-stall detached garage off the alley, offering additional income potential or tenant appeal. Prior updates included newer windows and updated bathrooms, with some units previously renovated.
With the right improvements, this property has the potential to be a strong cash-flowing asset once again. Ideal for investors seeking a manageable rehab with clear upside. Buyer to verify all information. Cash or rehab financing recommended.
Location
State MN
County Hennepin
Zoning Residential-Multi-Family
Rooms
Basement Full, Unfinished
Interior
Heating Forced Air
Fireplace No
Laundry In Basement, Washer Hookup
Exterior
Garage Spaces 4.0
Fence Full, Split Rail
Pool None
Roof Type Age Over 8 Years,Flat
Building
Lot Description Tree Coverage - Light
Story Two
Foundation 1728
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
Structure Type Frame
New Construction false
Schools
School District Minneapolis
GET MORE INFORMATION