MLS: #7133086, Listed By: John Stiles, Peritus Real Estate, Source:FargoMoorhead Area Association of REALTORS
3245 Penn Avenue
Minneapolis, MN 55412
7
Bed
4
Bath
3,456Sqft
0.16Acre(Lot)
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 rent
Property Details
Map
Map
What's Nearby
Nearby Areas
Features
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Bedroom Information
Total beds: 7Bathroom Information
Total Baths: 4Room Information
Has Basement: Yes Basement: Full, Unfinished -
Roofing Information
Flat -
Interior Features
Roof: Flat Laundry Features: In Basement, Washer Hookup -
Heating & Cooling
Has Heating: Yes Heating: Forced Air
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Building Information
Year Built: 1925 Building Area Total: 5184 Construction Materials: Frame, Stucco Stories: 2 Pool Features: None Private Pool: No
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Lot Information
Lot Dimensions: 54x126 Main Square Feet: 0.16 Acres Lot Size Acres: 0.16 Lot Size Square Feet: 6969.6 Lot Description: LevelProperty Information
Subdivision: Rheems Add Source Property Type: Residential Income Postal Code Plus 4: 3067 Property SubType: Quadruplex Levels: Two Property Age: 101
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Listing Price Information
Listing Price: $300000
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Tax Information
Parcel Number: 0802924140151 Tax Year: 2026 Annual Tax: $6641.94 Tax Legal Desc: BLOCK 001 RHEEMS ADDN TO MPLS LOT 4 AND S 14 FT OF LOT 3
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Garage Information
Has Garage: Yes Garage Space: 4
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Location Information
Direction: From Lowry Ave head North on Penn Ave. Property is on the left. WaterSource: Public
How much is this property worth?
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| 3921 Lyndale Avenue, Minneapolis, MN, 55412 | $399,900 | 8 | 4 | 2,660 | 0.11 Acre |
| 4130 Aldrich Avenue, Minneapolis, MN, 55412 | $255,000 | 4 | 2 | 2,203 | 0.12 Acre |
| 3247 Aldrich Avenue, Minneapolis, MN, 55412 | $280,000 | 7 | 2 | 2,494 | 0.13 Acre |
| 3606 Bryant Avenue, Minneapolis, MN, 55412 | $279,000 | 2 | 2 | 1,388 | 0.12 Acre |
| 4126 Dupont Avenue, Minneapolis, MN, 55412 | $145,500 | 3 | 2 | 1,754 | 0.15 Acre |
| 4037 Fremont Avenue, Minneapolis, MN, 55412 | $325,000 | 4 | 4 | 1,744 | 0.15 Acre |
| 1415 44th Avenue, Minneapolis, MN, 55412 | $265,000 | 4 | 3 | 2,474 | 0.12 Acre |
| 4301 James Avenue, Minneapolis, MN, 55412 | $346,900 | 3 | 3 | 1,834 | 0.14 Acre |
| 3236 James Avenue, Minneapolis, MN, 55412 | $275,000 | 4 | 2 | 1,824 | 0.11 Acre |
| 3614 Russell Avenue, Minneapolis, MN, 55412 | $150,000 | 3 | 2 | 1,537 | 0.13 Acre |
Similar Multifamily To 3245 Penn Avenue
Nearby For Sale
The data relating to real estate for sale on this website comes in part from the Internet Data exchange (IDX) program of the FMAAR MLS. Real estate listings held by brokerage firms other than ByOwner are marked with the listing office name. IDX information is provided exclusively for consumers' 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 deemed reliable but not guaranteed. Copyright ©2026 Fargo-Moorhead Area Association of REALTORS®. No reproduction, compilation, retransmission or distribution of this data is permitted in any manner without the express, written permission of the Fargo-Moorhead Area Association of REALTORS®.
ByOwner last updated this listing 09/02/2026 @ 15:44
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