2608 COLFAX AVE S MINNEAPOLIS MN 55408

PID: 3302924410023

Property Overview

Parcel ID3302924410023

Lot Size5,150 sq ft (0.118 ac)

Lot Dimensions (est.)129 ft wide × 40 ft deep

Year Built1900

Property ClassRESIDENTIAL

OwnerMOHAMED ALBORATI

Assessed Value$532,100

Land Value$134,000

Building Value$398,100

Annual Tax$8,533

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

No permits found in Minneapolis open data for this parcel.

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 55408

Median sale price$390K+6.8% YoY

Median price / sqft$243/sqft

Median days to close62 days

Active listings73

Source: Redfin Data Center (Invalid Date) · Zip 55408

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 width30 ft

Buildable depth89 ft

Area~2,661 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 2,661 sqft buildable area.

Est. units

Yield on cost

3.4%

Spread

-2.1%

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Nearby Parcels

Address	Owner	Class	Assessed Value	Distance
2612 COLFAX AVE S MINNEAPOLIS MN 55408	MATIAS PINO	RESIDENTIAL-TWO UNIT	$454,200	40 ft
2600 COLFAX AVE S MINNEAPOLIS MN 55408	ROGER W HEEGAARD ET AL	TRIPLEX	$575,500	60 ft
1009 26TH ST W MINNEAPOLIS MN 55405	JARED L GAGE	RESIDENTIAL	$375,000	70 ft
2616 COLFAX AVE S MINNEAPOLIS MN 55408	DONALD C OGREN	RESIDENTIAL	$517,000	80 ft
2620 COLFAX AVE S MINNEAPOLIS MN 55408	STEFAN DANIELS	RESIDENTIAL	$597,000	120 ft
2609 DUPONT AVE S MINNEAPOLIS MN 55408	D CARNES & L HIRST CARNES	RESIDENTIAL	$568,200	140 ft
2615 DUPONT AVE S MINNEAPOLIS MN 55408	JARED ROLSKY ET AL	RESIDENTIAL-TWO UNIT	$633,400	146 ft
1015 26TH ST W MINNEAPOLIS MN 55405	G & B RYG	APARTMENT	$1,164,000	151 ft
2624 COLFAX AVE S MINNEAPOLIS MN 55408	C OKAFOR & C OKAFOR	RESIDENTIAL	$624,500	160 ft
2617 DUPONT AVE S MINNEAPOLIS MN 55408	SALLIE WATSON BURGE	RESIDENTIAL	$585,000	162 ft

Property History

Most Recent Sale

Date202210

Price$445,000

TypeOTHER – SEE CERTIFICATE OF REAL ESTATE VALUE (CRV)

Current Tax Year

Year2026

Tax Due$8,533