3240 ALDRICH AVE S MINNEAPOLIS MN 55408

PID: 0402824140094

Property Overview

Parcel ID0402824140094

Lot Size10,928 sq ft (0.251 ac)

Lot Dimensions (est.)129 ft wide × 85 ft deep

Year Built1968

Property ClassAPARTMENT

OwnerDAVID O HANSEN

Assessed Value$1,267,000

Land Value$273,000

Building Value$994,000

Annual Tax$23,969

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

1 permit on record since 2019 · $20K total declared value · Most recent: Mar 2019 (roofwind)

RoofwindMar 2019Closed

$20K

MN SUPERIOR EXTERIORS

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

Neighborhood Profile

South Uptown · Minneapolis

Median reported rent1,449/mo

Renter-occupied73.2%

Median home value$398K

Vacancy rate2.1%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 81

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 width74 ft

Buildable depth90 ft

Area~6,643 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 6,643 sqft buildable area.

Est. units

Yield on cost

3.9%

Spread

-1.6%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
3248 ALDRICH AVE S MINNEAPOLIS MN 55408	MAX J SCHOTT II	RESIDENTIAL	$626,700	63 ft
3236 ALDRICH AVE S MINNEAPOLIS MN 55408	DANIEL PREYS & SYDNEY SCHUIT	RESIDENTIAL	$473,200	64 ft
3232 ALDRICH AVE S MINNEAPOLIS MN 55408	D J O'CONNOR & M M O'CONNOR	RESIDENTIAL	$412,500	106 ft
3252 ALDRICH AVE S MINNEAPOLIS MN 55408	E ELLIOTT & M L ELLIOTT	RESIDENTIAL	$570,800	106 ft
3243 BRYANT AVE S MINNEAPOLIS MN 55408	F RYAN/E JOHNSON/P OTTOSEN	RESIDENTIAL-TWO UNIT	$511,300	142 ft
3241 BRYANT AVE S MINNEAPOLIS MN 55408	CASEY NIELSEN/JOHN SCHMIDT	RESIDENTIAL	$328,700	142 ft
3228 ALDRICH AVE S MINNEAPOLIS MN 55408	K J REISCHAUER & D E GRESKE	RESIDENTIAL	$380,200	148 ft
3249 BRYANT AVE S MINNEAPOLIS MN 55408	MAUREEN S CARLSON	RESIDENTIAL	$274,700	154 ft
3237 BRYANT AVE S MINNEAPOLIS MN 55408	MAJID SHAFIEI	RESIDENTIAL	$378,000	154 ft
3233 BRYANT AVE S MINNEAPOLIS MN 55408	S PAWLOWSKI & K CADIEUX	RESIDENTIAL	$408,800	175 ft

Property History

Most Recent Sale

Date200203

Price$195,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$23,969