3519 GRAND AVE S MINNEAPOLIS MN 55408

PID: 0302824320115

Property Overview

Parcel ID0302824320115

Lot Size5,625 sq ft (0.129 ac)

Lot Dimensions (est.)125 ft wide × 45 ft deep

Year Built1922

Property ClassAPARTMENT

OwnerFRANCONIA ASSOCIATES LLC

Assessed Value$669,000

Land Value$139,500

Building Value$529,500

Annual Tax$14,962

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

3 permits on record since 2018 · $44K total declared value · Most recent: Jul 2019 (roofwind)

RoofwindJul 2019Closed

$25K

ROM CO LLC

Commercial Multi-FamilySep 2018Closed

$19K

Modern Home Services LLC

ComnofdbvMay 2018Closed

SODERLIN PLUMBING HEATING AND AIR

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

Neighborhood Profile

Lyndale · Minneapolis

Median reported rent1,194/mo

Renter-occupied53.6%

Median home value$326K

Vacancy rate10.3%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1093

Market Snapshot

Zip code 55408

Median sale price$390K+6.8% YoY

Median price / sqft$243/sqft

Median days to close62 days

Active listings73

Source: Redfin Data Center (Invalid Date) · Zip 55408

Zoning

UN2Urban Neighborhood 2

Urban Neighborhood 2 — moderate-density residential

Typical Uses

·Duplexes
·Triplexes
·Small apartment buildings (≤4 units)

Max Height35 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width35 ft

Buildable depth85 ft

Area~2,973 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 small multifamily (2–4 units, wood frame) benchmarks for 2,973 sqft buildable area.

Est. units

Yield on cost

3.7%

Spread

-1.8%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3523 GRAND AVE S MINNEAPOLIS MN 55408	FIRST HOLDINGS LLC	APARTMENT	$960,000	45 ft
3515 GRAND AVE S MINNEAPOLIS MN 55408	MUBARAK ALTHANI	RESIDENTIAL-TWO UNIT	$339,100	45 ft
3511 GRAND AVE S MINNEAPOLIS MN 55408	ALEXANDRA GEGARE WILLI	CONDOMINIUM	$211,100	90 ft
3511 GRAND AVE S MINNEAPOLIS MN 55408	ZACHARY KOLSUM	CONDOMINIUM	$211,100	90 ft
3511 GRAND AVE S MINNEAPOLIS MN 55408	NADIA L HECKER-OBRIEN	CONDOMINIUM	$213,200	90 ft
3511 GRAND AVE S MINNEAPOLIS MN 55408	CLAIRE LEO & JOHN ECKERD	CONDOMINIUM	$213,200	90 ft
MN	Unknown	—	—	90 ft
3527 GRAND AVE S MINNEAPOLIS MN 55408	SUPER INVESTMENTS LLC	APARTMENT	$0	91 ft
3527 GRAND AVE S MINNEAPOLIS MN 55408	J & D 11-93 LTD PTRNSHP	VACANT LAND-APARTMENT	$56,300	122 ft
3509 GRAND AVE S MINNEAPOLIS MN 55408	3509 GRAND AVENUE SOUTH LLC	APARTMENT	$493,000	135 ft

Property History

Most Recent Sale

Date199705

Price$140,500

Type—

Current Tax Year

Year2026

Tax Due$14,962