16 ELMWOOD PL W MINNEAPOLIS MN 55419

PID: 1502824310095

Property Overview

Parcel ID1502824310095

Lot Size9,210 sq ft (0.211 ac)

Lot Dimensions (est.)54 ft wide × 170 ft deep

Year Built1926

Property ClassRESIDENTIAL

OwnerE & J OLLILA

Assessed Value$747,000

Land Value$350,000

Building Value$397,000

Annual Tax$12,384

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

High-Frequency Transit (5-min walk)High

Within a 5-minute walk of a high-frequency LRT or BRT stop — a positive factor for density bonuses and Met Council Livable Communities grant scoring.

Metro Council — Livable Communities ↗

Potential programs

Met Council Livable Communities GrantMedium

Competitive grants for affordable housing and transit-oriented development near high-frequency transit; proximity to LRT/BRT is a key scoring factor.

Metro Council — Livable Communities ↗

Signals are based on public datasets; program eligibility requires verification.

Permit History

1 permit on record since 2017 · Most recent: Jan 2017 (res)

ResJan 2017Closed

CENTERPOINT ENERGY

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

Neighborhood Profile

Tangletown · Minneapolis

Median reported rent1,486/mo

Renter-occupied21.5%

Median home value$519K

Vacancy rate7.9%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1115

Market Snapshot

Zip code 55419

Median sale price$494K-4.7% YoY

Median price / sqft$270/sqft

Median days to close29 days

Active listings30

Source: Redfin Data Center (Invalid Date) · Zip 55419

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 width44 ft

Buildable depth131 ft

Area~5,751 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 5,751 sqft buildable area.

Est. units

Yield on cost

3.7%

Spread

-1.8%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
20 ELMWOOD PL W MINNEAPOLIS MN 55419	TODD SMITH & JILL SMITH	RESIDENTIAL	$965,000	53 ft
5048 NICOLLET AVE MINNEAPOLIS MN 55419	GERALDINE ANYANWU	RESIDENTIAL-TWO UNIT	$496,100	111 ft
5050 NICOLLET AVE MINNEAPOLIS MN 55419	JOSEPH ROBERT MIKLAUSICH	RESIDENTIAL	$416,200	119 ft
100 ELMWOOD PL W MINNEAPOLIS MN 55419	JESSICA RICHARDSON	RESIDENTIAL	$734,500	119 ft
5044 NICOLLET AVE MINNEAPOLIS MN 55419	LAURA WALLACK	RESIDENTIAL-TWO UNIT	$539,900	125 ft
5040 NICOLLET AVE MINNEAPOLIS MN 55419	STEPHANIE FRENCH	RESIDENTIAL-TWO UNIT	$485,800	157 ft
110 ELMWOOD PL W MINNEAPOLIS MN 55419	J D SIXKILLER/L R SIXKILLER	RESIDENTIAL	$852,500	195 ft
5038 NICOLLET AVE MINNEAPOLIS MN 55419	MARY M DUBOW	RESIDENTIAL-TWO UNIT	$532,500	198 ft
5100 NICOLLET AVE MINNEAPOLIS MN 55419	JOHN R HOTVET	RESIDENTIAL	$876,000	198 ft
5017 BELMONT AVE S MINNEAPOLIS MN 55419	CATHERINE M BISHOP TRUST	RESIDENTIAL	$935,000	199 ft

Property History

Current Tax Year

Year2026

Tax Due$12,384