1000 FRANKLIN AVE W MINNEAPOLIS MN 55405

PID: 2802924440054

Property Overview

Parcel ID2802924440054

Lot Size28,404 sq ft (0.652 ac)

Lot Dimensions (est.)135 ft wide × 210 ft deep

Year Built1919

Property ClassLOW INCOME RENTAL

OwnerBELMONT OPERATIONS LLC

Assessed Value$9,016,000

Land Value$1,179,400

Building Value$7,836,600

Annual Tax$35,175

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

9 permits on record since 2010 · $481K total declared value · Most recent: Dec 2025 (remodel)

RemodelDec 2025Final Inspection

$94K

RESTORATION TECHNOLOGIES INC

CommfdrrJan 2023Closed

$3K

Perfection Heating and Air Conditioning Inc

Commercial MinorJan 2023Closed

Plumbing West Inc

RemodelDec 2022Closed

$250K

GRADY RESTORATION LLC

ResJun 2022Closed

CenterPoint Energy Resource Corp

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

Neighborhood Profile

Lowry Hill · Minneapolis

Median reported rent1,289/mo

Renter-occupied58.6%

Median home value$620K

Vacancy rate3.3%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1055

Market Snapshot

Zip code 55405

Median sale price$530K+73.8% YoY

Median price / sqft$270/sqft

Median days to close45 days

Active listings39

Source: Redfin Data Center (Invalid Date) · Zip 55405

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 width120 ft

Buildable depth170 ft

Area~20,446 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 20,446 sqft buildable area.

Est. units

Yield on cost

4.1%

Spread

-1.4%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
1924 COLFAX AVE S MINNEAPOLIS MN 55403	1924 COLFAX MINNEAPOLIS LLC	RESIDENTIAL-TWO UNIT	$493,600	130 ft
1933 DUPONT AVE S MINNEAPOLIS MN 55403	LOWRY HILL PROPERTIES LLC	RESIDENTIAL-TWO UNIT	$587,300	138 ft
1939 DUPONT AVE S MINNEAPOLIS MN 55403	BELMONT OPERATIONS LLC	VACANT LAND-APARTMENT	$617,800	144 ft
1929 DUPONT AVE S MINNEAPOLIS MN 55403	JONATHAN & DAVID NEMANI	RESIDENTIAL-TWO UNIT	$682,700	157 ft
1934 HENNEPIN AVE MINNEAPOLIS MN 55403	BURCH INVESTORS LLC	COMMERCIAL-NON PREFERRED	$2,498,300	171 ft
1920 COLFAX AVE S MINNEAPOLIS MN 55403	TONI D'ERAMO	APARTMENT	$690,000	180 ft
1925 DUPONT AVE S MINNEAPOLIS MN 55403	MAUREEN KING & PAUL BUCK	CONDOMINIUM	$348,000	198 ft
1925 DUPONT AVE S MINNEAPOLIS MN 55403	FRANK M STERNER	CONDOMINIUM	$298,000	198 ft
1925 DUPONT AVE S MINNEAPOLIS MN 55403	GRETA NACKERUD	CONDOMINIUM	$298,000	198 ft
MN	Unknown	—	—	198 ft

Property History

Most Recent Sale

Date201206

Price$343,045

TypeSALE INCLUDES MORE THAN ONE PARCEL

Current Tax Year

Year2026

Tax Due$35,175