3609 GRAND AVE S MINNEAPOLIS MN 55409

PID: 0302824330146

Property Overview

Parcel ID0302824330146

Lot Size7,521 sq ft (0.173 ac)

Lot Dimensions (est.)125 ft wide × 60 ft deep

Year Built1959

Property ClassAPARTMENT

OwnerFIRST HOLDINGS LLC

Assessed Value$1,785,000

Land Value$187,500

Building Value$1,597,500

Annual Tax$33,899

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

No permits found in Minneapolis open data for this parcel.

Neighborhood Profile

King Field · 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 55409

Median sale price$442K+20.2% YoY

Median price / sqft$259/sqft

Median days to close18 days

Active listings25

Source: Redfin Data Center (Invalid Date) · Zip 55409

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 width50 ft

Buildable depth85 ft

Area~4,265 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 4,265 sqft buildable area.

Est. units

Yield on cost

3.8%

Spread

-1.7%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3605 GRAND AVE S MINNEAPOLIS MN 55409	KELLY M HARRINGTON ET AL	RESIDENTIAL-TWO UNIT	$408,600	50 ft
3615 GRAND AVE S MINNEAPOLIS MN 55409	GRAND APARTMENTS LLC	APARTMENT	$1,749,000	60 ft
3601 GRAND AVE S MINNEAPOLIS MN 55409	JAMES CAHLANDER	RESIDENTIAL	$414,500	88 ft
3619 GRAND AVE S MINNEAPOLIS MN 55409	NOAH & GENEVIEVE HALL	RESIDENTIAL	$364,400	110 ft
3606 PLEASANT AVE MINNEAPOLIS MN 55409	E A WACHTER & Q T FRAZOR	RESIDENTIAL	$333,000	137 ft
3610 PLEASANT AVE MINNEAPOLIS MN 55409	JON S DICUS/JENNIFER E BREEN	RESIDENTIAL	$411,700	140 ft
3604 PLEASANT AVE MINNEAPOLIS MN 55409	MICHAEL L GORWITZ	RESIDENTIAL	$362,400	146 ft
3623 GRAND AVE S MINNEAPOLIS MN 55409	J R BRACE & A C BRACE	RESIDENTIAL	$365,300	150 ft
3614 PLEASANT AVE MINNEAPOLIS MN 55409	LAUREN M SPICOLA	RESIDENTIAL	$439,700	153 ft
3600 PLEASANT AVE MINNEAPOLIS MN 55409	MELISSA E OTTO	RESIDENTIAL	$360,200	163 ft

Property History

Current Tax Year

Year2026

Tax Due$33,899