1537 E 38th Street,Minneapolis, MN 55407
Minneapolis, MN 55407
Description
Fully Renovated Fourplex | Turn-Key Investment Opportunity | Prime South Minneapolis LocationExceptional opportunity to own a recently renovated fourplex in the heart of South Minneapolis. This well-maintained multifamily property has undergone extensive interior and exterior improvements, making it a strong turn-key investment with additional value-add potential.The exterior has been completely refreshed, Improvements include brand-new siding, exterior paint, and new upper rear windows, along with a fully rebuilt upper balcony featuring new decking and flooring. The front porch flooring has been replaced and the stucco professionally restored, preserving the property’s character while enhancing durability. Common areas have also been updated with new carpeting on the stairways.Inside, the units have been thoughtfully remodeled, featuring new kitchens, updated bathrooms, new flooring, fresh paint, modern light fixtures, and efficient hot and cold mini-split systems. Each unit offers spacious layouts providing comfortable and functional living spaces.Major operational feature with four 75,000 BTU boilers, four high-capacity water heaters, four pressure tanks, updated electrical with split meters ideal management for owners.The property sits on a generous lot with off-street parking for up to 10 vehicles, a rare amenity in this central Minneapolis location. The building also includes two separate rear entrances in addition to the main front entry, providing convenient access for residents.There is also additional income potential, with the possibility of finishing the basement and installing coin-operated laundry machines, creating another revenue stream for investors.Located near parks, restaurants, shopping, public transportation, and major city routes, this property offers strong rental appeal and long-term investment potential.
Details
| MLS # | 7032128 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1911 |
| Days On Site | 167 |
| Listing Provided By | National Realty Guild | Jacqueline Sandoval |
Features
| Bed(s) | 8 |
|---|---|
| Bath(s) | 4 |
| SQ Feet | 3,456 |
| Basement | Y |
| Story(s) | 2 |
| Units | 4 |
| Zoning | Residential-Multi-Family |
| Acreage | 0.14 |
Interior
| Heating | Baseboard, Boiler |
|---|
Exterior
| Roof | Asphalt |
|---|---|
| Construction Materials | Block, Post and Beam, Concrete, Stone |
| Lot Features | Corner Lot |
Parking
| Parking Features | Parking Lot |
|---|
Taxes
| Property | 7037 |
|---|
Area Information
| State | MN |
|---|---|
| County | Hennepin |
| City | Minneapolis |
| Zip Code | 55407 |
| Area | 3 |
| Community Name | Monroe Bros Sub Of Lts Herrick Haml |
| School District | 1 |
| High School | Minneapolis |
| Listing VS Median (in Monroe Bros Sub Of Lts Herrick Haml) | |
Price: $680,000 low | high Med: $680,000 sqft: 3,456 low | high Med: 3,456 $ / sqft: $197 low | high Med: $197 On site: 167 low | high Med: 167 | |
Market Activity 55407
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Listings courtesy of Northstar MLS as distributed by MLS GRID.
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Learn More About This Property
| State | MN |
|---|---|
| County | Hennepin |
| City | Minneapolis |
| Zip Code | 55407 |
| Area | 3 |
| Community Name | Monroe Bros Sub Of Lts Herrick Haml |
| School District | 1 |
| High School | Minneapolis |
| Listing VS Median (in Monroe Bros Sub Of Lts Herrick Haml) | |
Price: $680,000 low | high Med: $680,000 sqft: 3,456 low | high Med: 3,456 $ / sqft: $197 low | high Med: $197 On site: 167 low | high Med: 167 | |
