2725 Pleasant Avenue, Minneapolis, MN 55408

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2725 Pleasant Avenue, Minneapolis, MN 55408

$2,400,000

Property Type: Commercial Lot Size (sq. ft.): 14,810 Status: Active

Current Price: $2,400,000 List Date: 9/09/2026 Last Modified: 9/10/2026

Overview

Description

Outstanding value-add investment opportunity in South Minneapolis. This 100%-occupied, 21-unit apartment building at 2725 Pleasant Ave S (1 efficiency, 3 studio/1-bath, 15 one-bedrooms, 2 two-bedrooms, plus 25 surface parking spaces and on-site laundry) offers a buyer immediate cash flow with significant upside as rents move to market. 15 units have already been updated, including 5 with new bathrooms, the 21st unit is currently being renovated and reactivated for an added income stream. Major capital items are already addressed — a full roof and parapet wall rebuild ($350,000, 2023) and a 2026 sewer main lining — plus fresh common-area paint and new hallway carpet on order. A building-wide RUBS program was implemented within the past 12 months, shifting water/sewer, trash, and electric/gas costs to tenants, and the 25 parking spaces (currently free) offer a straightforward paid-parking upside. Seller financing may be available for qualified buyers.

Listing Details MLS# 7141393

General Property Information

Lot Measurement: Acres
Management Company Name: Fuze Real Estate
Multiple PIDs?: No
Other Parking Spaces: 25
Owner Occupied: No
Waterfront YN: No
Year Built: 1968
Yearly/Seasonal: Yearly
Zoning: Business/Commercial
Foundation Size: Yes
For Sale or Lease: For Sale
Acres: 0.34
Assessment Pending: No

Property Features

Accessible: Other CMU Style: Apartments/Multi Family Construction Status: Previously Owned Current Use: Residential Exterior: Other Foundation: Other Fuel: Other Heating: Other Loan Terms: Cash; Conventional; Special Funding; Other Lock Box Type: Combo On Site Utilities: None Available Parking Characteristics: Parking Lot Rental License Type: Standard Sewer: City Sewer/Connected Stories: Two Water: City Water - In Street

Contract Information

Contingency: None
ListPrice: 2400000
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 2725
Street Name: Pleasant
Street Suffix: Avenue
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55408
Complex/Dev/Subdivision: J T Blaisdells Rev Add

Assessments

Tax With Assessments: 34164

Building Information

Building Finished SqFt: 10000

More Information

Income and Expenses

Annual Gross Expenses: 105000
Annual Gross Income: 201000
Annual Net Income: 97000

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

Homestead: No

Ownership

Fractional Ownership: No

Public Survey Info

Range#: 24
Section#: 34
Township#: 29

Sale Options

Sale Includes: Building, Leases

Unit 1

No. of 1 Bedroom Units: 15

Unit 2

No. of 2 Bedroom Units: 2

Unit Details

Total Units: 21

Unit Information

No. of Efficiency Units: 3

Listing Office: Fuze Real Estate

Last Updated: September - 10 - 2026

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.