Uptown Flats 2641 Lyndale Ave S Immeuble residentiel 4 lots 473 583 € (118 396 €/Lot) Minneapolis, MN 55408

2641 Lyndale Ave S is a four unit brick apartment building on the Lyndale corridor where Whittier meets the Wedge, one of the most consistent rental pockets in South Minneapolis. The draws that keep one bedroom units occupied are all within reach. LynLake and the Midtown Greenway are a few blocks south, Eat Street is a short walk east, Uptown and the Chain of Lakes are minutes west, and downtown and the Abbott Northwestern medical campus are an easy commute. Tenants and owner occupants alike want to live in this pocket, and that steady demand does a lot of the work of ownership for you.
Built in 1912, the building holds four one bedroom units, two per floor above a full basement, with a two level covered front porch facing Lyndale and off street parking in the rear.
Six figures have gone into the building’s mechanicals over the past five years, so the common big ticket items are already handled. Each unit received its own combination boiler and water heater in 2024, electrical panels have been updated, and every apartment makes its own heat and hot water. Gas and electric are separately metered with no house meters, and water, sewer and trash are billed back to tenants through a RUBS setup already in place, so the owner carries low utility costs. The flat roof was replaced with EPDM rubber and the rear two level porch has been rebuilt, with permits on file. On site laundry is owned outright rather than leased from a vendor, and use is currently free to tenants.
Three units are under lease and one is month to month, which opens the deal two ways. An owner occupant can step into a unit and live in the building while the other three stay rented, and an investor adds a stabilized, well managed building to the portfolio without taking on a project. Whether this is a first building or the fifteenth, it is set up to run simply.
The building is coming out of professional management, so the handoff is clean. Records are organized, the operating routine is established, and a new owner can focus on management and transition rather than a repair list. Interior photos are available. Contact the listing broker for the flyer and the full financial package.