Fantastic opportunity for owner-occupants or savvy investors! This unique triplex features three units
plus a non-conforming 4th unit, offering a fantastic opportunity for additional rental income or multi-generational living. Property layout includes:
Unit 1: Bright and spacious 3-bedroom, 1-bath unit — ideal for families or long-term tenants.
Unit 2: Efficient and inviting 1-bedroom, 1-bath — perfect for singles, couples, or short-term stays.
Unit 3: Comfortable 2-bedroom, 1-bath unit — a reliable income-producing rental. Remodeled in 2022.
Unit 4: Non-conforming 2-bedroom, 1-bath unit — currently rented, providing extra income. Remodeled in 2023.
Each unit has its own charm, and the property offers strong rental history with value-add potential.
Whether you're looking to expand your portfolio or live in one unit while renting the others, this property is packed with upside..
Closed
$510,000
38964 12th Ave, North Branch, MN 55056
8beds
4baths
4,096sqft
Triplex
Built in 1984
-- sqft lot
$510,400 Zestimate®
$125/sqft
$1,486 Estimated rent
Home value
$510,400
$444,000 - $592,000
$1,486/mo
Zestimate® history
Owner options
List your home for rent
$1,486/mo
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$1,486/mo
Rent Zestimate®
Refinance and save
$3,204/mo
Est. payment
Refinancing to a lower rate could help reduce your monthly payments and save thousands over the life of the loan.
$3,204/mo
Est. payment
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Zillow last checked:
Listing updated:
Listed by:
Patrick Walsh 651-216-7688,
Twin Cities Real Estate
Bought with:
Sean Thomas
Generations Real Estate Group
Source: NorthstarMLS as distributed by MLS GRID,MLS#: 6710254
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 4
Heating
- Baseboard
Features
- Basement: Block,Daylight,Egress Window(s),Finished,Single Tenant Access
Interior area
- Total structure area: 4,096
- Total interior livable area: 4,096 sqft
- Finished area above ground: 2,048
- Finished area below ground: 1,912
Property
Parking
- Total spaces: 3
- Parking features: Garage
- Garage spaces: 3
- Details: Garage Dimensions (33 x 21), Garage Door Height (7), Garage Door Width (16)
Accessibility
- Accessibility features: None
Features
- Levels: One
- Patio & porch: Deck
Lot
- Size: 10,008 Square Feet
- Dimensions: 100 x 100
Details
- Foundation area: 2048
- Parcel number: 160041102
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Triplex
Materials
- Block
Condition
- New construction: No
- Year built: 1984
Utilities & green energy
- Electric: Circuit Breakers
- Gas: Natural Gas
- Sewer: City Sewer/Connected
- Water: City Water/Connected
Community & HOA
Community
- Subdivision: Gregors Add
Location
- Region: North Branch
Financial & listing details
- Price per square foot: $125/sqft
- Tax assessed value: $357,900
- Annual tax amount: $5,738
- Date on market: 4/30/2025
- Cumulative days on market: 23 days
- Tenant pays: Broadband, Electricity, Gas, Trash Collection
Price history
| Date | Event | Price |
|---|---|---|
| 6/6/2025 | Sold | $510,000-5.4%$125/sqft |
Source:  NorthstarMLS as distributed by MLS GRID #6710254 Report a problem | ||
| 5/26/2025 | Pending sale | $539,000$132/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6710254 Report a problem | ||
| 5/2/2025 | Listed for sale | $539,000+439%$132/sqft |
Source: NorthstarMLS as distributed by MLS GRID #6710254 Report a problem | ||
| 6/11/1997 | Sold | $100,000$24/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $4,484 -19.8% | $343,600 -21.9% |
| 2023 | $5,590 +9.5% | $439,800 +30.5% |
| 2022 | $5,106 -4.6% | $337,000 -1% |
| 2021 | $5,352 -3.5% | $340,300 |
| 2020 | $5,548 +19.8% | -- |
| 2017 | $4,632 +100% | -- |
| 2016 | $2,316 -46.9% | -- |
| 2015 | $4,360 +5% | -- |
| 2014 | $4,152 +10.7% | $215,200 |
| 2013 | $3,750 +7.6% | -- |
| 2012 | $3,486 +5.1% | -- |
| 2011 | $3,318 -6.4% | -- |
| 2010 | $3,544 | -- |
| 2009 | -- | -- |
| 2008 | $3,436 +13% | -- |
| 2007 | $3,040 +9.3% | -- |
| 2006 | $2,782 +5.7% | -- |
| 2005 | $2,633 +53.1% | -- |
| 2004 | $1,720 +10.3% | -- |
| 2003 | $1,560 -3.4% | -- |
| 2002 | $1,615 | -- |
Find assessor info on the county website
Neighborhood: 55056
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Nearby schools
GreatSchools rating
- 7/10Sunrise River Elementary SchoolGrades: 1-5Distance: 1.5 mi
- 3/10North Branch Middle SchoolGrades: 6-8Distance: 1.1 mi
- 5/10North Branch Senior High SchoolGrades: 9-12Distance: 1.2 mi
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Estimated market value
$510,400
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Estimated market value
$510,400
- Minnesota
- Chisago County
- North Branch
- 55056
- 38964 12th Ave
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