3010 15th Ave S, Minneapolis, MN 55407 For Sale

Rare opportunity to acquire a classic up/down duplex in the heart of Minneapolis that has been under the same ownership since 1994. Situated on a double lot with a fenced yard, this property offers both stability and long-term upside potential.

This well-laid-out duplex features two spacious units, each offering 3 bedrooms and 1 bathroom, with a total of 2,678 finished square feet. The upper unit showcases hardwood floors and an updated kitchen, while both units offer functional layouts and the highly desirable convenience of in-unit laundry, a major draw for tenants.

The property is currently occupied by long-term tenants, providing immediate, reliable income. The main floor rents for $1,500 per month, and the upper unit rents for $1,650 per month. Residents pay their own electricity. Rents have not been increased to match current market levels, as ownership has prioritized tenant stability, presenting a clear opportunity for future value growth.

Powderhorn Park is a south Minneapolis neighborhood located approximately three miles from downtown, bounded by East Lake Street, Cedar Avenue, East 38th Street, and Chicago Avenue. Developed primarily between 1905 and 1920, the area features a mix of single-family homes, duplexes, and classic brick apartment buildings.

The neighborhood is centered around the 66-acre Powderhorn Park and Powderhorn Lake, a well-known community hub that hosts recreational activities and annual events. Home to approximately 8,400 residents, Powderhorn Park is recognized for its cultural diversity and strong community presence, with Lake Street serving as a vibrant corridor of locally owned businesses.

In recent years, the neighborhood has also been a focal point for community engagement and civic activity, contributing to its evolving identity within Minneapolis.