5508 OLIVER AVE S MINNEAPOLIS MN 55419

PID: 2102824220171

Property Overview

Parcel ID2102824220171

Lot Size7,560 sq ft (0.174 ac)

Lot Dimensions (est.)126 ft wide × 60 ft deep

Year Built1951

Property ClassRESIDENTIAL-TWO UNIT

OwnerD & D LUNDSTROM

Assessed Value$476,600

Land Value$219,000

Building Value$257,600

Annual Tax$7,298

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

3 permits on record since 2020 · Most recent: Jan 2024 (existres)

ExistresJan 2024Closed

Hilliard Heating & Cooling Inc

ResJun 2020Closed

CenterPoint Energy Resource Corp

ResJun 2020Closed

CenterPoint Energy Resource Corp

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

Neighborhood Profile

Armatage · Minneapolis

Median reported rent1,771/mo

Renter-occupied10.4%

Median home value$551K

Vacancy rate5.7%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1113

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 width50 ft

Buildable depth86 ft

Area~4,300 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 4,300 sqft buildable area.

Est. units

Yield on cost

3.8%

Spread

-1.7%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
5504 OLIVER AVE S MINNEAPOLIS MN 55419	DANIEL A NODSLE	RESIDENTIAL-TWO UNIT	$531,800	60 ft
5512 OLIVER AVE S MINNEAPOLIS MN 55419	M C SARGEANT-BUCK/S S BUCK	RESIDENTIAL-TWO UNIT	$520,800	60 ft
5500 OLIVER AVE S MINNEAPOLIS MN 55419	SCB1 PROPERTIES LLC	RESIDENTIAL-TWO UNIT	$431,500	120 ft
5518 OLIVER AVE S MINNEAPOLIS MN 55419	HEATHER BALENGER ET AL	RESIDENTIAL-TWO UNIT	$578,000	132 ft
5509 PENN AVE S MINNEAPOLIS MN 55419	KIRK L BRINCKS	RESIDENTIAL-TWO UNIT	$408,300	142 ft
5515 PENN AVE S MINNEAPOLIS MN 55419	HEATHER BALENGER ET AL	RESIDENTIAL-TWO UNIT	$476,200	143 ft
5507 PENN AVE S MINNEAPOLIS MN 55419	DAVID W ERICKSON TRUST	RESIDENTIAL-TWO UNIT	$449,500	159 ft
5519 PENN AVE S MINNEAPOLIS MN 55419	HANAM PHAM	RESIDENTIAL-TWO UNIT	$493,300	170 ft
5509 OLIVER AVE S MINNEAPOLIS MN 55419	KIRK L BRINCKS TRUST	RESIDENTIAL-TWO UNIT	$469,700	187 ft
2221 55TH ST W MINNEAPOLIS MN 55419	HEATHER BALENGER ET AL	RESIDENTIAL-TWO UNIT	$520,300	188 ft

Property History

Most Recent Sale

Date198510

Price$120,000

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$7,298