1613 FRANKLIN AVE W MINNEAPOLIS MN 55405

PID: 3302924210096

Property Overview

Parcel ID3302924210096

Lot Size19,842 sq ft (0.456 ac)

Lot Dimensions (est.)198 ft wide × 100 ft deep

Year Built1906

Property ClassCONDOMINIUM

OwnerFAR EAST LLC

Assessed Value$1,030,000

Land Value$208,000

Building Value$822,000

Annual Tax$17,988

Environmental Constraints

FloodplainNo

WetlandsNone detected

Historic DistrictNo

Permit History

4 permits on record since 2017 · Most recent: Mar 2021 (comnofdbv)

ComnofdbvMar 2021Closed

FIRESIDE HEARTH AND HOME

ResOct 2018Closed

Warners Stellian Co Inc

ExistresAug 2018Closed

SEDGWICK HEATING & AIR CONDITIONING

ExistresAug 2017Closed

SEDGWICK HEATING AND AIR CONDITIONING LLC

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

UN2Urban Neighborhood 2

Urban Neighborhood 2 — moderate-density residential

Typical Uses

·Duplexes
·Triplexes
·Small apartment buildings (≤4 units)

Max Height35 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.)8 ft

Rear20 ft

Estimated Buildable Footprint

Buildable width185 ft

Buildable depth60 ft

Area~11,309 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 11,309 sqft buildable area.

Est. units

Yield on cost

4.2%

Spread

-1.3%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
2000 IRVING AVE S MINNEAPOLIS MN 55405	LAURA DIAMANDOPOULOS	CONDOMINIUM	$1,022,000	0 ft
1615 FRANKLIN AVE W MINNEAPOLIS MN 55405	ROBERT STICH & LEAH STICH	CONDOMINIUM	$713,000	0 ft
MN	Unknown	—	—	0 ft
2008 IRVING AVE S MINNEAPOLIS MN 55405	L KOHL & J LAINE	RESIDENTIAL	$1,316,200	83 ft
1617 FRANKLIN AVE W MINNEAPOLIS MN 55405	T Z STRULOVITCH ETAL	RESIDENTIAL	$1,381,600	130 ft
2012 IRVING AVE S MINNEAPOLIS MN 55405	A HO & T A HUDSON	RESIDENTIAL	$1,184,000	144 ft
1610 FRANKLIN AVE W MINNEAPOLIS MN 55405	A CARLSON & L HOLLINGSWORTH	RESIDENTIAL	$690,500	161 ft
1942 IRVING AVE S MINNEAPOLIS MN 55403	RICHARD W WRIGHT	RESIDENTIAL-TWO UNIT	$979,200	176 ft
1941 JAMES AVE S MINNEAPOLIS MN 55403	A SEASTRAND & J GANTA	RESIDENTIAL	$1,126,800	180 ft
2018 IRVING AVE S MINNEAPOLIS MN 55405	LARRY E JONES ET AL	RESIDENTIAL	$1,137,100	204 ft

Property History

Most Recent Sale

Date201503

Price$900,000

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$17,988