3540 BLOOMINGTON AVE MINNEAPOLIS MN 55407

PID: 0202824420146

Property Overview

Parcel ID0202824420146

Lot Size6,220 sq ft (0.143 ac)

Lot Dimensions (est.)124 ft wide × 50 ft deep

Year Built1928

Property ClassAPARTMENT

OwnerREVIVAL PROPERTIES LLC

Assessed Value$528,000

Land Value$86,000

Building Value$442,000

Annual Tax$9,988

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

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 ↗

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

Permit History

2 permits on record since 2018 · $22K total declared value · Most recent: May 2019 (roofwind)

RoofwindMay 2019Closed

$8K

NORTHRUP REMODELING

RoofwindJul 2018Closed

$13K

KOHLS FOAM SYSTEMS INC

Source: Minneapolis open data. Declared construction values are applicant-reported and may not reflect actual project cost.

Neighborhood Profile

Powderhorn Park · Minneapolis

Median reported rent1,384/mo

Renter-occupied31.1%

Median home value$271K

Vacancy rate4.5%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1097

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 depth84 ft

Area~3,375 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 3,375 sqft buildable area.

Est. units

Yield on cost

4.0%

Spread

-1.5%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3536 BLOOMINGTON AVE MINNEAPOLIS MN 55407	POWDERDECO LLC	APARTMENT	$502,000	50 ft
3544 BLOOMINGTON AVE MINNEAPOLIS MN 55407	JAMIE V PHELPS	RESIDENTIAL	$231,800	50 ft
3532 BLOOMINGTON AVE MINNEAPOLIS MN 55407	RACHEL A BENNETT	RESIDENTIAL	$281,200	100 ft
3543 15TH AVE S MINNEAPOLIS MN 55407	J C MALY & A C LILLIS	RESIDENTIAL	$262,000	137 ft
3539 15TH AVE S MINNEAPOLIS MN 55407	SCOTT J SHEAHAN	RESIDENTIAL	$358,600	139 ft
3547 15TH AVE S MINNEAPOLIS MN 55407	MICHAEL A BUECHNER	RESIDENTIAL-TWO UNIT	$339,100	146 ft
3528 BLOOMINGTON AVE MINNEAPOLIS MN 55407	BLOOMINGTON AVENUE LLC	APARTMENT	$730,000	150 ft
3535 15TH AVE S MINNEAPOLIS MN 55407	MATTHEW ENGEN	RESIDENTIAL-TWO UNIT	$374,200	156 ft
3600 BLOOMINGTON AVE MINNEAPOLIS MN 55407	W ENDEAVORS LLC	RESIDENTIAL-TWO UNIT	$290,200	157 ft
3531 15TH AVE S MINNEAPOLIS MN 55407	E S CHATMAN & E J STRAUSS	RESIDENTIAL	$389,800	186 ft

Property History

Most Recent Sale

Date201805

Price$368,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$9,988