4035 BLOOMINGTON AVE MINNEAPOLIS MN 55407

PID: 1102824140189

Property Overview

Parcel ID1102824140189

Lot Size41,637 sq ft (0.956 ac)

Lot Dimensions (est.)122 ft wide × 341 ft deep

Year Built1962

Property ClassAPARTMENT

OwnerREGAN 4035 LLC

Assessed Value$3,886,000

Land Value$577,900

Building Value$3,308,100

Annual Tax$73,512

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 2017 · $48K total declared value · Most recent: Nov 2017 (remodel)

RemodelNov 2017Closed

$48K

INNOVATIVE POWER SYSTEMS INC

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

Neighborhood Profile

Bancroft · Minneapolis

Median reported rent1,159/mo

Renter-occupied26.1%

Median home value$309K

Vacancy rate2.1%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1101

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

Front Street

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

Setbacks

Front20 ft

Interior side5 ft

Street side (est.)10 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width107 ft

Buildable depth301 ft

Area~26,757 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 26,757 sqft buildable area.

Est. units

Yield on cost

4.3%

Spread

-1.2%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
4040 16TH AVE S MINNEAPOLIS MN 55407	SPENCER WHITELEY ET AL	RESIDENTIAL	$404,600	137 ft
4036 16TH AVE S MINNEAPOLIS MN 55407	JESSICA KRAMER RYAN SKEESUCK	RESIDENTIAL	$322,300	138 ft
4044 16TH AVE S MINNEAPOLIS MN 55407	PETER I PEARSON ET AL	RESIDENTIAL	$350,800	149 ft
4032 16TH AVE S MINNEAPOLIS MN 55407	MICHAEL JOHN BRADT	RESIDENTIAL	$315,000	153 ft
4048 16TH AVE S MINNEAPOLIS MN 55407	L M KECK & L W SMITH	RESIDENTIAL	$308,700	171 ft
4028 16TH AVE S MINNEAPOLIS MN 55407	J SHIWMANGAL & A SHIWMANGAL	RESIDENTIAL-TWO UNIT	$431,400	176 ft
4021 BLOOMINGTON AVE MINNEAPOLIS MN 55407	ALBERT WARE	RESIDENTIAL	$304,700	196 ft
4052 16TH AVE S MINNEAPOLIS MN 55407	R LOPEZ/C BARNEY	RESIDENTIAL	$0	201 ft
4024 16TH AVE S MINNEAPOLIS MN 55407	RANDY G DURBIN	RESIDENTIAL	$378,600	206 ft
4020 16TH AVE S MINNEAPOLIS MN 55407	HIDENORI TOZAWA	RESIDENTIAL	$283,600	241 ft

Property History

Most Recent Sale

Date202102

Price$4,148,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$73,512