3405 15th Avenue S, Minneapolis, MN 55407

Property Description

Rarely available South Minneapolis fourplex directly on Powderhorn Park, offering unbeatable setting, top-performing rents, and exceptional flexibility for investors or owner-occupants alike. This historic gem had only two owners in 111 years, and is lovingly maintained and thoughtfully updated for the next century of ownership. Separate utilities for each unit protect your bottom line from fluctuations in energy prices, and a master key system keeps property management simple. Each of the four spacious apartments includes 2 bedrooms, 1 bath, and a highly sought-after garage stall. Two of the four units have been artfully remodeled with added dishwasher & built-in microwave. The property also includes a remarkable carriage-house-style garage, built around 2002, that sets this fourplex apart. The main level functions beautifully as a workshop, studio, or hobby space, while the massive loft above offers endless potential — whether for storage, an art or yoga studio, or even future living or office space (check with the city for possibilities). This structure sits on its own wide stretch of south facing yard, giving the carriage house an independent appearance or a more open, spacious feel to the property overall, uncommon in this neighborhood. Major updates include: * All 3 exterior cement staircases fully demolished and freshly rebuilt and poured by professional cement contractor (2025) * Updated landscaping and all new grading around foundation (2025) * New rubber roof and one garage roof (2019) * All new windows (2010) * Unit 2 remodeled (Spring 2025) * Unit 3 remodeled (2022) * Newer appliances (2022) and interior updates throughout With nearly $80,000 in annual gross income ($78,900/yr) and room to increase rents, this is a solid performer in one of Minneapolis’s most vibrant neighborhoods. Two month-to-month units make it ideal for a buyer seeking to owner-occupy one or more apartments while collecting income from the rest. Powderhorn Park itself is a beloved community hub and cherished, enormous green space — the setting of the annual May Day Parade and numerous cultural events and festivals throughout the year. Residents enjoy walking paths, a community center, playground, wading pool, and year-round lake activities like kayaking and ice skating. This is not your typical South Minneapolis fourplex — it’s a legacy property with soul, flexibility, and income. Whether you envision communal living, multi-generational housing, or simply a smart long-term investment, this fourplex on the park is a rare and beautiful opportunity.