RealtyLens
for saleRealtyLens property overview
$1,229,000

2121 Penn Ave S

Minneapolis, MN, 55405
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8Beds
4Baths
5,320Sqft
$231$/sqft

Listing Notes

Beautiful all-brick 4-plex just a half block from Lake of the Isles in the coveted Kenwood neighborhood. This classic building showcases timeless craftsmanship, with interior units featuring natural oak woodwork and hardwood floors. Three units include original built-in buffets and elegant room dividers with bookcases separating the living and dining rooms. A previous owner thoughtfully opened the sunroom and living room in Unit 1, creating an expansive, inviting space rarely found in buildings of this era. Over the years, all kitchens have been updated with a clean, modern style that complements the buildings historic character. Major mechanical updates provide peace of mind and strong rental appeal: tenants pay their own heat and electricity, supported by four newer boilers (2017), four individual hot water heaters, and separate updated electrical panels. The roof was replaced in 2020 with a durable Duro-Last system, and the sewer line was fully lined in 2025. Opportunities like this are raredont miss one of the finest 4-plexes in the city, steps from the lake, parks, trails, and everything that makes Kenwood one of Minneapolis most desirable neighborhoods.

Market Insights

Above nearby median+9.5%

$231/sqft vs a nearby median of $211/sqft.

Nearby median$211/sqft
Nearby properties5
Property size5,320 sqft
  • +9.5% versus the nearby median price per square foot.
  • Price history is limited, so current comps matter more than trend alone.
  • 5,320 sqft creates a usable price-per-square-foot read.

Pricing Read

Yardstick fair value$1.15M$1.04M$1.26M · 42% confidence
vs ask $1.23M+$78k (+6.3%)

Asking price is about 6.3% above where comps + adjustments land — there is room to negotiate.

$211/sqft median across 5 tight comps × 5,320 sqft= $1.12M
  • Pre-war character+$28k +2.5%
Cumulative NYC adjustments+$28k+2.5%

Property Read

FreshnessCurrent market data

The listing facts are current enough for an initial property review.

Market Position+9.5% vs nearby

The property is priced above the nearby median per square foot, so condition, building quality, and exact location need to justify the higher ask.

Price MovementInitial price point

Price history is still limited; review again as more market activity becomes available.

Diligence Read2 items to check
AI ReadinessReady to analyze
Assistant read

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Generated from the facts shown on this page and nearby market data. Not a professional appraisal.

Listing Details

Days on market
1 day
Last price change
No change recorded
Listed
May 11, 2026
Photos
51 photos
Property type
multi family
Status
for sale

Features & Amenities

Laundry RoomRecreation FacilitiesBasementTwo Or More StoriesRental PropertyLakeTrailsHardwood FloorsPark

Photos

Price History

May 11, 2026Initial record
$1,229,000for sale

You can also find this listing on Realtor.com.

Listing data sourced from realtor.com. RealtyLens enriches and contextualises it for you, but the original listing lives on the source.