For Sale

Listed by John Stiles

Source: Regional MLS of Minnesota #7000803

3245 Penn Ave N, Minneapolis, MN, 55412

$325,000

7
4
4
3456 sq. ft.
0.16 ac.

Duplex

30+ days on the market

What's around 3245 Penn Ave N

About this property

Excellent value-add opportunity in North Minneapolis. This classic 1925 fourplex offers strong upside for an investor or contractor looking to restore a solid multifamily asset and bring it back into cash-flowing condition. The building is currently vacant and being sold as-is. The property experienced a fire in one unit and the front entry, and remediation work has already begun. Based on available information, the majority of the remaining work appears to be smoke and cosmetic restoration, rather than structural in nature. Copper plumbing has been removed, so water is currently off, creating a clear but straightforward scope of work for the next owner. Previously, the building produced solid income and featured separate furnaces and water heaters, helping keep operating expenses low. The property includes a 4-stall detached garage off the alley, offering additional income potential or tenant appeal. Prior updates included newer windows and updated bathrooms, with some units previously renovated. With the right improvements, this property has the potential to be a strong cash-flowing asset once again. Ideal for investors seeking a manageable rehab with clear upside. Buyer to verify all information. Cash or rehab financing recommended.

Looking for more information on 3245 Penn Ave N?

Explore comparables, sales history and growth for this property.
Learn more

Similar properties for sale nearby

Under Contract
$329,900
3706 Penn Ave N
Minneapolis MN 55412
7
4
3
Duplex
Listing courtesy of Jason Mitchell Real Estate Minnesota LLC
For Sale
$280,000
3247 North Aldrich Avenue
Minneapolis MN 55412
7
2
Duplex
Listing courtesy of Creative Results

Other properties for sale by WilliamRobert

For Sale
$199,000
10/824 10th Street South
Minneapolis MN 55404
1
1
1
Condo
Listing courtesy of WilliamRobert
For Sale
$389,900
2515 Royal Oaks Drive
Minnetonka MN 55343
4
2
2
Single-Family
Listing courtesy of WilliamRobert
For Sale
$775,000
620 South 9th Street
Minneapolis MN 55404
Duplex
Listing courtesy of WilliamRobert

Browse properties sold in nearby areas

Based on information submitted to the MLS GRID as of 17 Dec 2025. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the "DMCA") provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under MLS GRID IDX Rules Updated September 16, 2024 7 U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to: dmca@ratemyagent.com

The DMCA requires that your notice of alleged copyright infringement include the following information: (1) description of the copyrighted work that is the subject of claimed infringement; (2) description of the alleged infringing content and information sufficient to permit us to locate the content; (3) contact information for you, including your address, telephone number and email address; (4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law; (5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and (6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner's behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.

Email
© 2026 RateMyAgent