Home for Sale in Minneapolis
3245 Penn N Avenue
Minneapolis, MN 55412
Property Details
No. of Units
2
Year Built
1925
Square Feet
5,184
Acres
0.16
2026 Property Taxes
$6,642
School District
Minneapolis
County
Hennepin
Excellent value-add opportunity in North Minneapolis — now offered at a reduced price. This classic 1925 fourplex offers strong upside for an investor or contractor looking to restore a solid multifamily asset and bring it back into cash-flowing condition. The building is currently vacant, is listed on the City of Minneapolis Vacant Building Registry, and is being sold as-is. 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, well-defined scope of work for the next owner. Previously, the building produced solid rental income ($1,500/mo for the 2BR units, $1,250/mo for the 1BR unit) 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 price adjustment reflecting the current condition, this is a compelling entry point for an investor with the resources to move quickly on a manageable rehab with clear upside. Buyer to verify all information, including vacant building registry requirements and timeline for release. Cash or rehab financing recommended.
From Lowry Ave head North on Penn Ave. Property is on the left.
Unit Information
Unit 1
Unit 2
Features
Electric
Circuit Breakers
Heating
Forced Air
Sewer
City Sewer/Connected
Water
Public
Lot Size
54x126
Foundation
Block
Fencing
Full,Split Rail
Additional Info
Listed By
John Stiles of Peritus Real Estate
Listed
08/25/26 and last updated 08/26/26
Based on information submitted to the MLS GRID or Trestle as of DATE and TIME. All data is obtained from various sources and may not have been verified by the broker, MLS GRID, or Trestle. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. IDX information is provided exclusively for personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
