First time available since 1999, this well-maintained 8-unit apartment building is a rare find in the heart of the Powderhorn neighborhood. The unit mix includes six 1-bedroom apartments and two studio units, all under the care of a dedicated owner-operator who has taken great pride in providing a quality, well-kept living environment for tenants.
Also available for sale is an adjacent vacant lot, located at 3037 15th Ave S. Currently serving as green space, the lot is perfect for gardening, outdoor gatherings, or recreation. Even more, the lot presents a potential development opportunity for added value, whether for additional residential units, structured parking, or creative infill concepts (buyer to verify zoning and development options with the city).
The property is enrolled in the Minneapolis 4d Affordable Housing Program, offering a significant property tax reduction in exchange for maintaining affordable rents—a major financial advantage for investors focused on long-term performance and community-minded housing.
Located just a short walk from Powderhorn Park and the vibrant Lake Street corridor, residents enjoy easy access to green space, public transit, and a mix of eclectic restaurants, shops, and cultural amenities that make this area a Minneapolis gem.
Whether you're looking to expand your portfolio, live on-site, or explore future development, this offering combines location, stability, tax benefits, and upside—making it a standout opportunity in today's market.
Listing courtesy of John A Stiles, First Select
