2318 JEFFERSON ST N E MINNEAPOLIS MN 55418

PID: 1102924420171

Property Overview

Parcel ID1102924420171

Lot Size102,039 sq ft (2.343 ac)

Lot Dimensions (est.)247 ft wide × 413 ft deep

Year Built2018

Property ClassLOW INCOME RENTAL

OwnerHOOK & LADDER APARTMENTS L P

Assessed Value$16,041,000

Land Value$1,224,500

Building Value$14,816,500

Annual Tax$64,489

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictUnknown

Development Opportunities

Area of Concentrated PovertyHigh

In an ACP50 area — a Minneapolis priority designation that increases scoring for Great Streets gap financing, Affordable Housing Trust Fund, and other CPED programs.

Minneapolis — Affordable Housing Trust Fund ↗

Great Streets Priority ParcelHigh

Designated a Priority parcel in Minneapolis's Great Streets program — eligible for facade improvement grants and commercial gap financing.

Minneapolis Great Streets ↗

Potential programs

Great Streets Façade Improvement ProgramMedium

Matching grants for exterior improvements to commercial buildings on eligible corridors; contact CPED for current availability.

Minneapolis — Facade Improvement Matching Grant ↗

Great Streets Gap FinancingMedium

Below-market loans for commercial real estate development and rehabilitation on eligible corridors; priority given to Green Zone and ACP50 locations.

Minneapolis Great Streets — Gap Financing ↗

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 rent1,204/mo

Renter-occupied56.0%

Median home value$293K

Vacancy rate8.5%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1018

Market Snapshot

Zip code 55418

Median sale price$345K-3.1% YoY

Median price / sqft$222/sqft

Median days to close36 days

Active listings42

Source: Redfin Data Center (Invalid Date) · Zip 55418

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 width234 ft

Buildable depth373 ft

Area~83,140 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 83,140 sqft buildable area.

Est. units

184

Yield on cost

4.2%

Spread

-1.3%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
2301 WASHINGTON ST N E MINNEAPOLIS MN 55418	BURLINGTON NORTHERN INC	LAND-COMMERCIAL	$90,000	133 ft
2311 JEFFERSON ST N E MINNEAPOLIS MN 55418	D P HAGEN & EL AHLSTROM	RESIDENTIAL	$227,800	232 ft
659 23RD AVE N E MINNEAPOLIS MN 55418	ANDREW J HERSEY	RESIDENTIAL	$252,200	232 ft
2319 JEFFERSON ST N E MINNEAPOLIS MN 55418	N CRANE-SMITH & C HEUBACH	RESIDENTIAL	$314,700	250 ft
652 24TH AVE N E MINNEAPOLIS MN 55418	ANSU KOUROUMA	RESIDENTIAL-TWO UNIT	$263,200	257 ft
658 24TH AVE N E MINNEAPOLIS MN 55418	GREGORIA LOPEZ	RESIDENTIAL-TWO UNIT	$346,400	287 ft
639 23RD AVE N E MINNEAPOLIS MN 55418	639 23RD AVE NE LLC	APARTMENT	$2,493,000	291 ft
662 24TH AVE N E MINNEAPOLIS MN 55418	RYAN THOMAS SULLY	RESIDENTIAL-TWO UNIT	$337,600	319 ft
2400 JEFFERSON ST N E MINNEAPOLIS MN 55418	ELIZABETH A BACKDAHL	RESIDENTIAL	$255,600	323 ft
2200 JEFFERSON ST N E MINNEAPOLIS MN 55418	BURLINGTON NORTHERN RR CO	RAILROAD	$0	327 ft

Property History

Current Tax Year

Year2026

Tax Due$64,489