$725,000
1537 E 38th Street Minneapolis, MN 55407
For Sale MLS# 7032128
8 beds 4 baths 3,456 sq ft Multi-family
Details for 1537 E 38th Street
MLS# 7032128
Description for 1537 E 38th Street, Minneapolis, MN, 55407
Fully Renovated Fourplex Turn-Key Investment Opportunity Prime South Minneapolis LocationExceptional opportunity to own a recently renovated fourplex in the heart of South Minneapolis. This well-maintained multifamily property has undergone extensive interior and exterior improvements, making it a strong turn-key investment with additional value-add potential.The exterior has been completely refreshed, Improvements include brand-new siding, exterior paint, and new upper rear windows, along with a fully rebuilt upper balcony featuring new decking and flooring. The front porch flooring has been replaced and the stucco professionally restored, preserving the property’s character while enhancing durability. Common areas have also been updated with new carpeting on the stairways.Inside, the units have been thoughtfully remodeled, featuring new kitchens, updated bathrooms, new flooring, fresh paint, modern light fixtures, and efficient hot and cold mini-split systems. Each unit offers spacious layouts providing comfortable and functional living spaces.Major operational feature with four 75,000 BTU boilers, four high-capacity water heaters, four pressure tanks, updated electrical with split meters ideal management for owners.The property sits on a generous lot with off-street parking for up to 10 vehicles, a rare amenity in this central Minneapolis location. The building also includes two separate rear entrances in addition to the main front entry, providing convenient access for residents.There is also additional income potential, with the possibility of finishing the basement and installing coin-operated laundry machines, creating another revenue stream for investors.Located near parks, restaurants, shopping, public transportation, and major city routes, this property offers strong rental appeal and long-term investment potential.
Listing Information
Property Type: Multi-family, Four Plex
Status: Active
Bedrooms: 8
Bathrooms: 4
Lot Size: 0.14 Acres
Square Feet: 3,456 sq ft
Year Built: 1911
Foundation: 1,728 sq ft
Stories: 2 Stories
Subdivision: Monroe Bros Sub Of Lts Herrick Haml
Number Of Units Total: 4
County: Hennepin
Days On Market: 56
Construction Status: Previously Owned
School Information
District: 1 - Minneapolis
Additonal Room Information
Laundry: In Basement
Interior Features
Square Footage above: 3,456 sq ft
Basement: Full, Concrete Block
Utilities
Water: City Water/Connected
Sewer: City Sewer/Connected
Heating: Natural Gas, Baseboard, Boiler
Exterior / Lot Features
Open Parking: 10
Parking Description: Parking Lot, Garage Dimensions - 0, Garage Door Height - 0, Garage Door Width - 0, Garage Sq Ft - 0.00
Exterior: Stucco
Roof: Asphalt Shingles
Lot Dimensions: 0x0x0x0
Zoning: Residential-Multi-Family
Additional Exterior/Lot Features: Corner Lot, Road Frontage - City
Community Features
Community Features: Other
Driving Directions
Take the I-35W S/MN-55 E/Hiawatha Ave rampUse the left lane to take the MN-55 E/Hiawatha Ave exitContinue onto MN-55 E/Hiawatha AveTurn right onto E 26th StTurn left onto Bloomington AveDestination will be on the right
Financial Considerations
Owner Pays: Trash,Water
Gross Income: 31800
Tax/Property ID: 1102824110068
Tax Amount: 7037.12
Tax Year: 2025
HomeStead Description: Non-Homesteaded
A broker reciprocity listing courtesy: National Realty Guild
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Edina Realty, Inc. are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail and detailed information about them includes the name of the listing brokers. Edina Realty, Inc. is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Edina Realty, Inc., a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc. IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Open House information is subject to change without notice. Information deemed reliable but not guaranteed.
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Payment Calculator
Interest rate and annual percentage rate (APR) are based on current market conditions, are for informational purposes only, are subject to change without notice and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score and other variables. Estimated closing costs used in the APR calculation are assumed to be paid by the borrower at closing. If the closing costs are financed, the loan, APR and payment amounts will be higher. If the down payment is less than 20%, mortgage insurance may be required and could increase the monthly payment and APR. Contact us for details. Additional loan programs may be available. Accuracy is not guaranteed, and all products may not be available in all borrower's geographical areas and are based on their individual situation. This is not a credit decision or a commitment to lend.
Sales History & Tax Summary for 1537 E 38th Street
Sales History
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Tax Summary
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Data powered by ATTOM Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
Schools
Schools nearby 1537 E 38th Street
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The schools shown represent both the assigned schools and schools by distance based on local school and district attendance boundaries. Attendance boundaries change based on various factors and proximity does not guarantee enrollment eligibility. Please consult your real estate agent and/or the school district to confirm the schools this property is zoned to attend. Information is deemed reliable but not guaranteed.
SchoolDigger ® Rating
The SchoolDigger rating system is a 1-5 scale with 5 as the highest rating. SchoolDigger ranks schools based on test scores supplied by each state's Department of Education. They calculate an average standard score by normalizing and averaging each school's test scores across all tests and grades.
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