2524 Northeast Jackson Street, Minneapolis, MN 55418

The opportunity

Turnkey today, expandable tomorrow. 2524 Jackson St NE is a fully renovated, 100% occupied fourplex in the Holland neighborhood of Northeast Minneapolis that gives a buyer both things that rarely show up in the same building: a clean, immaculate, cash-flowing asset to own on day one, and a clear, documented path to grow the income well beyond where it sits today.

Condition you can see

Three of the four units were taken to high-end, turnkey condition in a 2016 renovation, with newer furnaces and water heaters, hardwood floors, and updated kitchens. The whole property presents immaculately. The crown of the building is the top unit, a two-level, premium 3-bedroom 2-bath unit with its own central air conditioning. Upstairs, a bright and flexible loft delivers genuinely usable loft space, the kind of room that becomes a home office, den, or lounge, and the level is finished off with a bathroom set on heated tile floors. That unit also opens to its own private balcony, and residents share a welcoming front porch and a rear deck, the kind of outdoor space that keeps good tenants in place. The one remaining un remodeled unit is a blank canvas: remodel it to match the others and reconfigure it to a two-bedroom to lift rent right away.

Income in place, and a clear way to grow it

The building runs at $5,510/month in place ($66,120/year) with every unit leased. Those rents sit under today's market, and the leases roll through 2026, so a new owner resets to market on a natural schedule instead of fighting to force it. All units are separately metered and pay their own electric and gas; ownership covers water, sewer and trash. The current insurance figure is inflated by the seller's blanket portfolio policy, so a standalone policy reprices materially lower for a new buyer. On top of that, the on-site coin laundry income (owner-owned machines) and the basement storage rooms aren't currently being billed. There is income here that isn't yet on paper.

From 7 bedrooms to 10: the value-add path

Today the building is 7 bedrooms across four units. The upside is stacked and straightforward:

1. The two 1-bedroom units convert easily into 2-bedrooms.
2. The single unrenovated unit can be remodeled and converted into a two-bedroom.
3. The lower level, a non-conforming space that already has a fully finished bathroom, its own separate meter, and its own furnace and water heater, needs only a kitchen to become a 5th unit.

Put those moves together and the property can reach as many as 10 bedrooms across five units, pushing gross rents from roughly $66,000/year today toward the mid-$90,000s at stabilized market, per the value-add proforma. That is the kind of expansion runway most Northeast fourplexes simply don't have, and with the lower level already carrying its own meter, furnace, water heater, and finished bathroom, the framework is essentially in place.

A door opening for an owner-occupant

One unit is coming available now. For a buyer who wants to live in one unit and let the other three carry the building, the timing is ideal. Owner-occupy, capture the below-market upside as leases roll, and grow into the expansion on your own schedule.

Location: the #1 Arts District in America

Holland sits inside the Northeast Minneapolis Arts District, voted the #1 Arts District in the country in the USA Today 10Best Readers' Choice awards (2015, 2022 and 2023). The Northrup King Building, the largest art complex in Minnesota with hundreds of artist studios, is on the same street just down the block at 1500 Jackson St NE. Walk or bike to the Central Avenue corridor and its deep lineup of international restaurants, to craft breweries like Indeed and Bauhaus, and to the galleries, shops and event spaces along 13th Avenue and Quincy Street. The neighborhood hosts Art-A-Whirl, the largest open-studio tour in the country, every spring. Tenants want to live here, which is exactly why vacancy stays low and well-located buildings hold their value.

The bottom line

Immaculate, fully leased, renovated, under-rented, with a unit opening up and a documented path from 7 bedrooms to 10, priced at $699,900. Turnkey buyers get a clean building. Value-add buyers get a five-unit, 10-bedroom project hiding inside a four-unit price. Both get one of the most in-demand rental corners in Minneapolis. See it in person before it's gone.

Financials and full rent roll available to qualified buyers. Showings coordinated through the listing agent; please do not disturb tenants.