1537 E 38th Street, Minneapolis, MN 55407
Local realty services provided by:ERA Gillespie Real Estate
1537 E 38th Street,Minneapolis, MN 55407
$725,000
- 8 Beds
- 4 Baths
- 3,456 sq. ft.
- Multi-family
- Active
Listed by: jacqueline sandoval
Office: national realty guild
MLS#:7032128
Source:NSMLS
Price summary
- Price:$725,000
- Price per sq. ft.:$209.78
About this home
Fully Renovated Fourplex | Turn-Key Investment Opportunity | Prime South Minneapolis Location
Exceptional 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.
Contact an agent
Home facts
- Year built:1911
- Listing ID #:7032128
- Added:4 day(s) ago
- Updated:March 11, 2026 at 12:04 PM
Rooms and interior
- Bedrooms:8
- Total bathrooms:4
- Basement:Yes
- Basement Description:Block, Full
- Living area:3,456 sq. ft.
Heating and cooling
- Heating:Baseboard, Boiler
Structure and exterior
- Roof:Asphalt
- Year built:1911
- Building area:3,456 sq. ft.
- Lot area:0.14 Acres
- Lot Features:Corner Lot
- Construction Materials:Block
- Levels:2 Story
Utilities
- Water:City Water - Connected
- Sewer:City Sewer - Connected
Finances and disclosures
- Price:$725,000
- Price per sq. ft.:$209.78
- Tax amount:$7,037 (2025)
New listings near 1537 E 38th Street
- Coming Soon
$750,000Coming Soon3 beds 2 baths5252 Drew Avenue S, Minneapolis, MN 55410
MLS# 7031760Listed by: CALL IT CLOSED INTERNATIONAL REALTY - New
$569,900Active10 beds 4 baths3,704 sq. ft.2428 11th Avenue S, Minneapolis, MN 55404
MLS# 7033911Listed by: RE/MAX RESULTS - New
$169,900Active3 beds 1 baths1,116 sq. ft.3504 19th Avenue S, Minneapolis, MN 55407
MLS# 7034238Listed by: RE/MAX ADVANTAGE PLUS - New
$279,900Active1 beds 1 baths943 sq. ft.401 S 1st Street #213, Minneapolis, MN 55401
MLS# 7034655Listed by: DRG - New
$749,900Active4 beds 4 baths3,220 sq. ft.5216 47th Avenue S, Minneapolis, MN 55417
MLS# 7022790Listed by: COLDWELL BANKER REALTY - LAKES - Coming SoonOpen Sat, 12 to 2pm
$450,000Coming Soon3 beds 2 baths5733 13th Avenue S, Minneapolis, MN 55417
MLS# 7032846Listed by: VIBE REALTY - New
$750,000Active2 beds 2 baths1,664 sq. ft.801 Washington Avenue N #320, Minneapolis, MN 55401
MLS# 7034488Listed by: COLDWELL BANKER REALTY - LAKES - Coming Soon
$345,000Coming Soon3 beds 1 baths4654 Oakland Avenue, Minneapolis, MN 55407
MLS# 7034531Listed by: ANDERSON REALTY
$400,000Pending3 beds 2 baths1,446 sq. ft.5211 31st Avenue S, Minneapolis, MN 55417
MLS# 6823503Listed by: RE/MAX ADVANTAGE PLUS- Coming Soon
$325,000Coming Soon2 beds 2 baths3832 42nd Avenue S, Minneapolis, MN 55406
MLS# 7034224Listed by: EDINA REALTY, INC.