1537 E 38th ST Minneapolis, MN 55407
8 Beds
4 Baths
3,456 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,456 sqft
Price per Sqft $209
Subdivision Monroe Bros Sub Of Lts Herrick Haml
MLS Listing ID 7032128
Bedrooms 8
Year Built 1911
Annual Tax Amount $7,037
Tax Year 2025
Contingent None
Lot Size 6,098 Sqft
Lot Dimensions 0x0x0x0
Property Sub-Type Fourplex
Property Description
Exceptional opportunity to own a recently renovated fourplex in the heart of South Minneapolis. This well-maintained multifamily property has undergone extensive interior and exterior improvements, making it a strong turn-key investment with additional value-add potential.
The exterior has been completely refreshed, Improvements include brand-new siding, exterior paint, and new upper rear windows, along with a fully rebuilt upper balcony featuring new decking and flooring. The front porch flooring has been replaced and the stucco professionally restored, preserving the property's character while enhancing durability. Common areas have also been updated with new carpeting on the stairways.
Inside, the units have been thoughtfully remodeled, featuring new kitchens, updated bathrooms, new flooring, fresh paint, modern light fixtures, and efficient hot and cold mini-split systems. Each unit offers spacious layouts providing comfortable and functional living spaces.
Major operational feature with four 75,000 BTU boilers, four high-capacity water heaters, four pressure tanks, updated electrical with split meters ideal management for owners.
The property sits on a generous lot with off-street parking for up to 10 vehicles, a rare amenity in this central Minneapolis location. The building also includes two separate rear entrances in addition to the main front entry, providing convenient access for residents.
There is also additional income potential, with the possibility of finishing the basement and installing coin-operated laundry machines, creating another revenue stream for investors.
Located near parks, restaurants, shopping, public transportation, and major city routes, this property offers strong rental appeal and long-term investment potential.
Location
State MN
County Hennepin
Zoning Residential-Multi-Family
Rooms
Family Room Other
Basement Block, Full
Interior
Heating Baseboard, Boiler
Fireplace No
Laundry In Basement
Exterior
Parking Features Parking Lot
Fence None
Roof Type Asphalt
Building
Lot Description Corner Lot
Story Two
Foundation 1728
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
Structure Type Block,Post and Beam,Concrete,Stone
New Construction false
Schools
School District Minneapolis
