3401 COLFAX AVE S MINNEAPOLIS MN 55408

PID: 0402824410039

Property Overview

Parcel ID0402824410039

Lot Size37,998 sq ft (0.872 ac)

Lot Dimensions (est.)130 ft wide × 292 ft deep

Year Built1964

Property ClassAPARTMENT

OwnerCOLFAX APARTMENTS LLC

Assessed Value$6,425,000

Land Value$940,800

Building Value$5,484,200

Annual Tax$121,543

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictUnknown

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

Minneapolis

Median reported rent1,188/mo

Renter-occupied69.2%

Median home value$289K

Vacancy rate4.9%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1092

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

Front Street

On corner lots, the selected street determines which setbacks apply to each side.

Setbacks

Front20 ft

Interior side5 ft

Street side (est.)8 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width117 ft

Buildable depth252 ft

Area~25,020 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 25,020 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
3412 BRYANT AVE S MINNEAPOLIS MN 55408	R J DEVET & C DEVET	RESIDENTIAL	$317,700	140 ft
3408 BRYANT AVE S MINNEAPOLIS MN 55408	AMANDA K WEBER & ZEB R HULTS	RESIDENTIAL	$390,200	146 ft
3416 BRYANT AVE S MINNEAPOLIS MN 55408	HOLLI JEAN FABER	RESIDENTIAL	$381,800	146 ft
911 34TH ST W MINNEAPOLIS MN 55408	ALEX BISSEN	RESIDENTIAL	$304,200	160 ft
3404 BRYANT AVE S MINNEAPOLIS MN 55408	KRISTIN ERICKSON	RESIDENTIAL	$564,900	164 ft
3420 BRYANT AVE S MINNEAPOLIS MN 55408	STAHLY CAPITAL MANGMT LLC	RESIDENTIAL	$458,300	164 ft
3424 BRYANT AVE S MINNEAPOLIS MN 55408	LEPETOMANE PROPERTIES LLC	RESIDENTIAL	$574,800	189 ft
3412 COLFAX AVE S MINNEAPOLIS MN 55408	DUPONT VILLA L L C	APARTMENT	$2,420,800	189 ft
3400 BRYANT AVE S MINNEAPOLIS MN 55408	Z D LOCKREM & J LOCKREM	RESIDENTIAL	$410,900	206 ft
3404 COLFAX AVE S MINNEAPOLIS MN 55408	ALEXANDER BOONE	RESIDENTIAL-TWO UNIT	$505,200	206 ft

Property History

Most Recent Sale

Date201811

Price$12,640,853

TypeSALE INCLUDES MORE THAN ONE PARCEL

Current Tax Year

Year2026

Tax Due$121,543