2544 ALDRICH AVE S MINNEAPOLIS MN 55405

PID: 3302924140184

Property Overview

Parcel ID3302924140184

Lot Size6,860 sq ft (0.157 ac)

Lot Dimensions (est.)129 ft wide × 53 ft deep

Year Built1905

Property ClassAPARTMENT

OwnerCHARLES KENNELLY/GRACE GRETZ

Assessed Value$637,000

Land Value$209,000

Building Value$428,000

Annual Tax$12,098

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Development Opportunities

Potentially 4d-Eligible PropertyMedium

Property type suggests multifamily rental use — may qualify for the Minneapolis 4d program, which reduces property taxes to ~0.25% in exchange for affordability commitments. Requires 3+ units and a current rental license.

Minneapolis — 4d Affordable Housing Incentive ↗

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

Permit History

3 permits on record since 2017 · $18K total declared value · Most recent: Aug 2024 (commfdrr)

CommfdrrAug 2024Closed

$18K

Metro Heating & Cooling LLC

ComnofdbvNov 2017Closed

Linn Star Transfer Inc

ComnofdbvMar 2017Closed

FRANK MOTZKO PLUMBING LLC

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

Neighborhood Profile

Lowry Hill East · Minneapolis

Median reported rent1,194/mo

Renter-occupied84.0%

Median home value$388K

Vacancy rate3.3%

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

Source: 2022 ACS 5-Year Estimates · Census Tract 1067

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

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 width43 ft

Buildable depth89 ft

Area~3,841 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 3,841 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
2540 ALDRICH AVE S MINNEAPOLIS MN 55405	E G LEE & D ROEDIGER	TRIPLEX	$621,200	46 ft
2552 ALDRICH AVE S MINNEAPOLIS MN 55405	R APONTE & J A APONTE	RESIDENTIAL-TWO UNIT	$471,700	56 ft
2536 ALDRICH AVE S MINNEAPOLIS MN 55405	GABRIEL ISAIAH SCHWARTZMAN	RESIDENTIAL	$372,700	86 ft
2556 ALDRICH AVE S MINNEAPOLIS MN 55405	TIMOTHY L VENNE	RESIDENTIAL-TWO UNIT	$397,800	105 ft
2532 ALDRICH AVE S MINNEAPOLIS MN 55405	CATHERINE BRITT/RACHEL USHER	RESIDENTIAL	$471,900	126 ft
2545 BRYANT AVE S MINNEAPOLIS MN 55405	ERIN SAYER	CONDOMINIUM	$215,000	141 ft
2545 BRYANT AVE S MINNEAPOLIS MN 55405	MARK HOLLOCK & JOAN PARKS	CONDOMINIUM	$215,000	141 ft
2545 BRYANT AVE S MINNEAPOLIS MN 55405	JOHN SIFFERT & MARTHA NORRIS	CONDOMINIUM	$219,000	141 ft
2545 BRYANT AVE S MINNEAPOLIS MN 55405	MARK HOLLOCK & JOAN PARKS	CONDOMINIUM	$213,000	141 ft
MN	Unknown	—	—	141 ft

Property History

Most Recent Sale

Date202104

Price$774,000

TypeWARRANTY DEED

Current Tax Year

Year2026

Tax Due$12,098