610 15TH ST E MINNEAPOLIS MN 55404

PID: 2602924320014

Property Overview

Parcel ID2602924320014

Lot Size7,481 sq ft (0.172 ac)

Lot Dimensions (est.)59 ft wide × 126 ft deep

Year Built1916

Property ClassLOW INCOME RENTAL

OwnerELLIOT PARK COMMONS LLC

Assessed Value$2,109,600

Land Value$206,500

Building Value$1,903,100

Annual Tax$8,164

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

2 permits on record since 2005 · $2.4M total declared value · Most recent: Jan 2023 (commfdrr)

CommfdrrJan 2023Closed

$14K

Jayhawk Mechanical Inc

Building Re-inspectionJun 2005

$2.4M

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

Neighborhood Profile

Elliot Park · Minneapolis

Median reported rent965/mo

Renter-occupied70.9%

Median home value$419K

Vacancy rate9.0%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1054

Market Snapshot

Zip code 55404

Median sale price$306K+16.4% YoY

Median price / sqft$167/sqft

Median days to close92 days

Active listings57

Source: Redfin Data Center (Invalid Date) · Zip 55404

Zoning

RM3Residence and Institutional

Residential Mixed-Use 3 — higher-density mixed residential

Typical Uses

·High-density apartments
·Mixed-use buildings
·Ground-floor retail

Max Height95 ft

Development Potential

Setbacks

Front20 ft

Side (each)5 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width49 ft

Buildable depth87 ft

Area~4,244 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 4,244 sqft buildable area.

Est. units

Yield on cost

3.9%

Spread

-1.6%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
606 15TH ST E MINNEAPOLIS MN 55404	SIX HUNDRED SIX LLC	APARTMENT	$2,109,600	60 ft
614 15TH ST E MINNEAPOLIS MN 55404	MN 1400 PARK CHURCH LLC	VACANT LAND-APARTMENT	$245,000	65 ft
1425 PORTLAND AVE MINNEAPOLIS MN 55404	CHDC SLATER LLC	APARTMENT	$2,079,100	120 ft
601 14TH ST E MINNEAPOLIS MN 55404	AEON PRESERVATION LP	LOW INCOME RENTAL	$6,157,800	135 ft
625 14TH ST E MINNEAPOLIS MN 55404	AEON PRESERVATION LP	LOW INCOME RENTAL	$171,500	146 ft
607 15TH ST E MINNEAPOLIS MN 55404	B T BEYENE & N ALTAYE	VACANT LAND-APARTMENT	$118,400	187 ft
609 15TH ST E MINNEAPOLIS MN 55404	DALE M HOWEY	VACANT LAND-APARTMENT	$117,500	192 ft
619 15TH ST E MINNEAPOLIS MN 55404	C MALIBAGO & K HINZE	RESIDENTIAL-TWO UNIT	$352,300	204 ft
1501 PORTLAND AVE MINNEAPOLIS MN 55404	HOWEY PROPERTIES LLC	APARTMENT	$5,642,000	218 ft
623 15TH ST E MINNEAPOLIS MN 55404	ANDREW GOKE	RESIDENTIAL	$407,000	227 ft

Property History

Most Recent Sale

Date200503

Price$900,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$8,164