3343 15th Avenue South is a classic up-down five-unit apartment building built in 1905 and ideally positioned directly across from Powderhorn Park, the Powderhorn Park Recreation Center, public pool, and adjacent parking lot. Located in a proven rental corridor of South Minneapolis, the property features spacious units with hardwood floors, high ceilings, strong natural light, and a history of consistent occupancy. Well-maintained through attentive ownership and professional management, the property has benefited from consistent care and investment over time.
The asset generates attractive current cash flow while offering significant value-add potential through improved operational efficiencies. Offered at $580,000 with a pro forma cap rate of 8.6%, the property presents an excellent opportunity for a first-time investor or owner-operator seeking a well-located multifamily asset with stable income, strong rental demand, and substantial upside potential in one of Minneapolis’ most established neighborhoods.
