3129 23RD AVE S MINNEAPOLIS MN 55407

PID: 0102824210073

Property Overview

Parcel ID0102824210073

Lot Size8,569 sq ft (0.197 ac)

Lot Dimensions (est.)171 ft wide × 50 ft deep

Year Built1964

Property ClassAPARTMENT

OwnerFAMILY TRUST/H M OLSON TRUST

Assessed Value$1,026,000

Land Value$129,000

Building Value$897,000

Annual Tax$19,873

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

High-Frequency Transit (5-min walk)High

Within a 5-minute walk of a high-frequency LRT or BRT stop — a positive factor for density bonuses and Met Council Livable Communities grant scoring.

Metro Council — Livable Communities ↗

Potentially 4d-Eligible PropertyMedium

Property type suggests multifamily rental use — may qualify for the Minneapolis 4d program, which reduces property taxes to ~0.25% in exchange for affordability commitments. Requires 3+ units and a current rental license.

Minneapolis — 4d Affordable Housing Incentive ↗

Potential programs

Met Council Livable Communities GrantMedium

Competitive grants for affordable housing and transit-oriented development near high-frequency transit; proximity to LRT/BRT is a key scoring factor.

Metro Council — Livable Communities ↗

Signals are based on public datasets; program eligibility requires verification.

Permit History

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

Minneapolis

Median reported rent1,426/mo

Renter-occupied41.7%

Median home value$261K

Vacancy rate3.7%

ACS rents reflect current tenant leases and may differ from new market rents.

Source: 2022 ACS 5-Year Estimates · Census Tract 1087

Market Snapshot

Zip code 55407

Median sale price$340K+1.5% YoY

Median price / sqft$214/sqft

Median days to close22 days

Active listings49

Source: Redfin Data Center (Invalid Date) · Zip 55407

Zoning

UN3Urban Neighborhood 3

Urban Neighborhood 3 — medium-density residential

Typical Uses

·Apartment buildings
·Mixed-use with neighborhood retail

Max Height50 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width40 ft

Buildable depth131 ft

Area~5,254 sqft

Estimates based on typical zoning setbacks. Actual requirements may vary by lot, overlay, or conditional approval.

Development Feasibility

Likely Infeasible

Back-of-envelope estimate based on 3-story wood frame (5–12 units) benchmarks for 5,254 sqft buildable area.

Est. units

Yield on cost

4.2%

Spread

-1.3%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3133 23RD AVE S MINNEAPOLIS MN 55407	B & P MORGAN	RESIDENTIAL	$183,900	50 ft
3123 23RD AVE S MINNEAPOLIS MN 55407	3123 LIMITED LIABILITY CO	LOW INCOME RENTAL	$1,139,000	50 ft
3139 23RD AVE S MINNEAPOLIS MN 55407	CHERYL RENEE HOVDE	RESIDENTIAL	$195,400	100 ft
3143 23RD AVE S MINNEAPOLIS MN 55407	M TANGEN & C A TANGEN	RESIDENTIAL	$280,900	150 ft
3105 23RD AVE S MINNEAPOLIS MN 55407	CLARE HIAWATHA LTD PRTNRSP	LOW INCOME RENTAL	$6,030,000	174 ft
3149 23RD AVE S MINNEAPOLIS MN 55407	IAN G LEASK	RESIDENTIAL-TWO UNIT	$263,100	197 ft
3153 23RD AVE S MINNEAPOLIS MN 55407	J M ROHRER & M E ROHRER	RESIDENTIAL	$243,600	242 ft
2340 32ND ST E MINNEAPOLIS MN 55406	CORCORAN TRIANGLE LTD PRTSHP	LOW INCOME RENTAL	$18,138,000	244 ft
2314 32ND ST E MINNEAPOLIS MN 55406	DARYL WARE	RESIDENTIAL	$265,000	249 ft
3126 23RD AVE S MINNEAPOLIS MN 55407	CHARLES RAY REIMLER JR	RESIDENTIAL	$326,500	251 ft

Property History

Current Tax Year

Year2026

Tax Due$19,873