4-Unit Multi-Family (non-conforming) investment opportunity with strong income potential! This fully leased 4 unit property offers a desirable mix of one-bedroom, studio, and two-bedroom layouts, providing diversified rental income and consistent tenant demand. Professionally managed and holding two rental licenses (zoned as a DUPLEX), this property is an excellent addition to an investment portfolio or a great opportunity for an owner looking to expand their holdings. The building features approximately 2,550 finished square feet and has an established occupancy history with leases already in place. Tenant leases are available for qualified buyers. Conveniently located near parks, shopping, restaurants, public transportation, and major commuter routes, this property combines stable occupancy with long-term investment potential. Don't miss this rare opportunity to acquire a fully occupied multifamily asset in Minneapolis.
Tenants are charged a monthly flat fee for electricity, gas, water, sewer & trash. This amount is already wrapped into the monthly rent that was stated.
Buyer and Buyer's Agent to verify all details, including square footage.
24 Hour Tenant Notice required for showings.
Active
Price cut: $5K (8/20)
$374,900
4255 Thomas Ave N, Minneapolis, MN 55412
4beds
4baths
2,550sqft
Duplex Side by Side
Built in 1940
-- sqft lot
$375,300 Zestimate®
$147/sqft
$-- HOA
What's special
- 57 days
- 389
- 23
Zillow last checked:
Listing updated:
Listed by:
Stacy Churchill 612-685-3722,
Fuze Real Estate
Source: NorthstarMLS as distributed by MLS GRID,MLS#: 7105318
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 4
Heating
- Baseboard, Forced Air
Appliances
- Laundry: In Basement, Lower Level, Laundry Room
Features
- Basement: Finished
Interior area
- Total structure area: 2,200
- Total interior livable area: 2,550 sqft
- Finished area above ground: 1,950
- Finished area below ground: 600
Property
Parking
- Total spaces: 2
- Parking features: Detached Garage
- Garage spaces: 2
Accessibility
- Accessibility features: None
Features
- Levels: One and One Half
- Fencing: None
Lot
- Size: 6,098 Square Feet
- Dimensions: 60 x 102
- Features: Corner Lot
Details
- Foundation area: 1600
- Parcel number: 0502924120173
- Zoning description: Residential-Multi-Family,Other
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Duplex Side by Side
Condition
- New construction: No
- Year built: 1940
Utilities & green energy
- Gas: Other
- Sewer: City Sewer/Connected
- Water: City Water/Connected
Community & HOA
Community
- Subdivision: Victory Park Add
Location
- Region: Minneapolis
Financial & listing details
- Price per square foot: $147/sqft
- Tax assessed value: $366,100
- Annual tax amount: $6,887
- Date on market: 7/7/2026
- Cumulative days on market: 45 days
- Tenant pays: Cable TV, Telephone, See Remarks
Estimated market value
$375,300
$357,000 - $394,000
$1,436/mo
Price history
| Date | Event | Price |
|---|---|---|
| 8/20/2026 | Price change | $374,900-1.3%$147/sqft |
Source: | ||
| 7/29/2026 | Price change | $379,900-4.8%$149/sqft |
Source: | ||
| 7/7/2026 | Listed for sale | $399,000+22.8%$156/sqft |
Source: | ||
| 5/10/2021 | Sold | $325,000+44.4%$127/sqft |
Source: Public Record Report a problem | ||
| 3/24/2021 | Listing removed | -- |
Source: Owner Report a problem | ||
| 4/10/2017 | Listing removed | $850 |
Source: Owner Report a problem | ||
| 4/3/2017 | Listed for rent | $850 |
Source: Owner Report a problem | ||
| 7/3/2003 | Sold | $225,000+63%$88/sqft |
Source: Public Record Report a problem | ||
| 8/25/2000 | Sold | $138,000$54/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $6,082 +18.3% | $366,100 +9% |
| 2024 | $5,143 -1% | $336,000 +3.7% |
| 2023 | $5,192 +5.8% | $324,000 -0.6% |
| 2022 | $4,906 -1.6% | $326,000 +12% |
| 2021 | $4,986 +10.7% | $291,000 +0.2% |
| 2020 | $4,505 -9.7% | $290,500 +20% |
| 2019 | $4,986 +10.7% | $242,000 +10% |
| 2018 | $4,505 +23.8% | $220,000 +36.6% |
| 2017 | $3,639 +11% | $161,000 +15% |
| 2016 | $3,279 +22.6% | $140,000 +11.6% |
| 2015 | $2,675 +6.4% | $125,500 +8.2% |
| 2014 | $2,515 +0.1% | $116,000 |
| 2013 | $2,513 -12.6% | $116,000 -15% |
| 2012 | $2,874 -1.7% | $136,500 -5.9% |
| 2011 | $2,924 +5.7% | $145,000 -7.9% |
| 2010 | $2,765 -28.8% | $157,500 -28.1% |
| 2009 | $3,883 +26.9% | $219,000 +22.8% |
| 2006 | $3,059 +9.2% | $178,300 +15% |
| 2005 | $2,802 +56.5% | $155,100 +19.8% |
| 2004 | $1,791 +15.7% | $129,500 +14% |
| 2002 | $1,547 -63.6% | $113,600 |
| 2001 | $4,257 | -- |
Find assessor info on the county website
Monthly payment
Est. payment







