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3816 Nicollet Ave

Minneapolis, MN 55409

Building Overview

Located in the high-demand Kingfield submarket of South Minneapolis, 3816 Nicollet Avenue presents a rare opportunity to acquire a stable, income-producing asset with built-in tax savings and strong value-add potential. The property is already enrolled in the Minneapolis 4d Affordable Housing Incentive Program, providing significant property tax reductions that enhance annual cash flow and improve long-term investment performance.

This well-positioned asset consists of 18 units—a desirable mix of 3 studios and 15 one-bedroom apartments—across 6,742 SF of GBA, situated on a 0.35-acre lot (15,281 SF) with R2B zoning. Built in 1966, the building benefits from a low-maintenance construction vintage.

Embedded NOI boost through 4d participation and reduced property tax expenses

Consistently high occupancy within one of Minneapolis’ strongest renter-demand corridors

Value-add potential via unit upgrades, amenity enhancements, and operational efficiencies

Strong unit mix, predominantly one-bedrooms ideal for workforce and entry-level renters

Location offering walkability, proximity to Eat Street, Uptown, major transit routes, and key employment hubs