The investment opportunity you’ve been waiting for! This massive duplex in the Central Neighborhood of South Minneapolis offers strong current income with future upside. Key capital improvements already completed, including brand-new boilers for both units, maintenance-free siding, updated windows, and nicely refreshed interiors—ideal for attracting top-market rents while minimizing future repair costs. Owner occupant investors welcomed with lower unit lease ending 5/31!
With nearly 2,600 finished sq ft and over 5,600 total sq ft, this property features a large basement and walk-up attic currently used for tenant storage but offering potential for value-added expansion for the next owner. Ideal for both first-time investors or seasoned builders seeking a great addition to their portfolio. Units rented until June of 2026 at $1895 & May of 2026 at $1650. Owner pays for water/sewer/trash, tenants responsible for gas & electric.
Closed
$428,265
3232 3rd Ave S, Minneapolis, MN 55408
5beds
2baths
2,560sqft
Duplex Up and Down
Built in 1902
-- sqft lot
$428,400 Zestimate®
$167/sqft
$1,845 Estimated rent
Home value
$428,400
$398,000 - $458,000
$1,845/mo
Zestimate® history
Owner options
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$1,845/mo
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$1,845/mo
Rent Zestimate®
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$2,700/mo
Est. payment
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$2,700/mo
Est. payment
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List your homeWhat's special
Maintenance-free sidingUpdated windowsNicely refreshed interiorsWalk-up atticBrand-new boilersLarge basement
Zillow last checked:
Listing updated:
Listed by:
Michael Moe 218-310-5947,
Keller Williams Classic Rlty NW
Bought with:
Rianna Redig
Jason Mitchell Group
Source: NorthstarMLS as distributed by MLS GRID,MLS#: 7046327
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 2
Heating
- Boiler, Hot Water
Features
- Basement: Full,Unfinished
Interior area
- Total structure area: 2,560
- Total interior livable area: 2,560 sqft
- Finished area above ground: 2,560
- Finished area below ground: 0
Property
Parking
- Parking features: Gravel
Accessibility
- Accessibility features: Stair Lift
Features
- Levels: Two
- Fencing: Chain Link,Privacy,Wood
Lot
- Size: 6,098 sqft
- Dimensions: 46 x 128
Details
- Foundation area: 1280
- Parcel number: 0302824130010
- Zoning description: Residential-Multi-Family
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Duplex Up and Down
Materials
- Roof: Asphalt,Rubber
Condition
- New construction: No
- Year built: 1902
Utilities & green energy
- Gas: Natural Gas
- Sewer: City Sewer/Connected
- Water: City Water/Connected
Community & neighborhood
Location
- Region: Minneapolis
Price history
| Date | Event | Price |
|---|---|---|
| 5/14/2026 | Sold | $428,265+0.8%$167/sqft |
Source:  NorthstarMLS as distributed by MLS GRID #7046327 Report a problem | ||
| 4/13/2026 | Pending sale | $425,000$166/sqft |
Source: NorthstarMLS as distributed by MLS GRID #7046327 Report a problem | ||
| 4/2/2026 | Listed for sale | $425,000-5.3%$166/sqft |
Source: NorthstarMLS as distributed by MLS GRID #7046327 Report a problem | ||
| 4/2/2026 | Listing removed | $449,000$175/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6807838 Report a problem | ||
| 3/13/2026 | Listed for sale | $449,000$175/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6807838 Report a problem | ||
| 12/3/2025 | Listing removed | $449,000$175/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6807838 Report a problem | ||
| 10/31/2025 | Listed for sale | $449,000+45%$175/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6807838 Report a problem | ||
| 6/4/2025 | Listing removed | $1,895$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 6/2/2025 | Listed for rent | $1,895-2.8%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 5/4/2024 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 5/1/2024 | Listed for rent | $1,950-11.4%$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 7/19/2022 | Listing removed | -- |
Source: Zillow Rental Manager Report a problem | ||
| 7/7/2022 | Listed for rent | $2,200$1/sqft |
Source: Zillow Rental Manager Report a problem | ||
| 9/4/2018 | Sold | $309,552+3.2%$121/sqft |
Source: NorthstarMLS as distributed by MLS GRID #4979084 Report a problem | ||
| 7/31/2018 | Pending sale | $300,000$117/sqft |
Source: RE/MAX Results #4979084 Report a problem | ||
| 7/12/2018 | Listed for sale | $300,000$117/sqft |
Source: RE/MAX Results #4979084 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $5,100 +9.8% | $345,300 -3% |
| 2024 | $4,642 +8.8% | $356,000 -1.1% |
| 2023 | $4,268 +5.5% | $360,000 +8.8% |
| 2022 | $4,045 -2% | $331,000 +10% |
| 2021 | $4,129 +5.7% | $301,000 -4.9% |
| 2020 | $3,906 -5.4% | $316,500 +13% |
| 2019 | $4,129 +5.7% | $280,000 +10% |
| 2018 | $3,906 +15.7% | $254,500 +18.9% |
| 2017 | $3,374 -2.2% | $214,000 -4.9% |
| 2016 | $3,449 -13.5% | $225,000 +19.4% |
| 2015 | $3,989 +24% | $188,500 +8.6% |
| 2014 | $3,216 -3.6% | $173,500 -4.9% |
| 2013 | $3,337 -10.9% | $182,500 -12% |
| 2012 | $3,746 +0.9% | $207,500 -7.2% |
| 2011 | $3,711 +8.3% | $223,500 -5.1% |
| 2010 | $3,426 -11.7% | $235,500 -9.9% |
| 2009 | $3,882 +53.6% | $261,500 +44.9% |
| 2006 | $2,528 +24.4% | $180,500 +28.4% |
| 2005 | $2,033 +25% | $140,600 +31% |
| 2004 | $1,626 +29.8% | $107,300 +27.7% |
| 2002 | $1,252 -30.8% | $84,000 |
| 2001 | $1,810 | -- |
Find assessor info on the county website
Neighborhood: Central
Nearby schools
GreatSchools rating
- 3/10Lyndale Elementary SchoolGrades: PK-5Distance: 0.5 mi
- 7/10Justice Page Middle SchoolGrades: 6-8Distance: 2.1 mi
- 8/10Washburn Senior High SchoolGrades: 9-12Distance: 2.1 mi
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Estimated market value
$428,400
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Estimated market value
$428,400
- Minnesota
- Hennepin County
- Minneapolis
- 55408
- Central
- 3232 3rd Ave S
Nearby cities
Nearby neighborhoods
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