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$499,500

  • For Sale
  • Active
  • Duplex
  • 3,090 Sq. Ft.
  • 2 Car Garage
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Great Owner occupied opportunity with 5535 currently on a month to month lease. 5537 is currently rented with a 1 year lease that began July 2025. Lease payment for each unit is $1800/month. 3 Bedrooms in each side with 1 full and 1 1/4 Bathrooms with large lower level Family Room walking out to Back Yard. Separate Garage stall for each unit. Washer and Dryer, Range or Cooktop plus Refrigerator included with each unit. Maintenance free exterior. 24 hour notice required for all showings.

Full Property Details for 5535 Penn Ave S

General

  • Price: $499,500
  • Taxes: $8,797 (2025)
  • Status: Active
  • Type: Duplex
  • Source: NorthStarMLS_RMLS
  • MLS ID: 6791869
  • Updated: 11/2/2025
  • Added to Site: 120 day(s) ago

Parking

  • Garage: Yes
  • Garage Spaces: 2
  • Parking Features: Detached, Asphalt

Location

  • County: Hennepin
  • Subdivision: Pennhurst 2nd Add
  • Neighborhood: Armatage
  • Driving Directions: Highway 62 to Penn Ave, North to Home

School Information

  • School District: 1 - Minneapolis
  • High School District: Minneapolis

Heating & Cooling

  • Heating Type: Forced Air
  • Heating Fuel: Natural Gas

Utilities

  • Sewer: City Sewer Connected
  • Water: City Water (Connected)

Structural Information

  • Exterior Const.: Brick/Stone, Stucco
  • Basement: Yes
  • Finished basement: Yes
  • Basement Desc.: Egress Window(s), Finished, Walk-Out
  • Foundation Size: 1840
  • Roof: Age Over 8 Years, Asphalt, Pitched
  • Disability Access: None
  • Square Feet: 3,090
  • Above Ground: 1,840 Sq. Ft.
  • Below Ground: 1,250 Sq. Ft.
  • Finished Down/Base.: 3,090 Sq. Ft.
  • Year Built: 1959

Unit Information

  • Units w/Refrigerators: 1
  • Units w/Range/Oven: 1

Lot Features

  • Lot Size (Acres): 0.19
  • Lot Dimensions: 65 x 126
  • Frontage: City Street, Curbs
  • Zoning: Residential-Multi-Family
  • Lot Description: Some Trees
  • Fencing (Description): Chain Link

Financial Considerations

  • Operating Expenses: $16,937
  • Tax Amount: $8,797
  • Tax Year: 2025
  • Terms: Conventional, Cash
  • Owner Pays: Insurance, Taxes, Trash Collection
  • Tenant Pays: Cable TV, Electricity, Gas
  • Pays Cable: Tenant Pays
  • Pays Electric: Tenant Pays
  • Pays Gas: Tenant Pays
  • Pays Trash: Owner Pays

Disclosures and Reports

  • Legal Description: BLOCK 008 PENNHURST 2ND ADDN N 1/2 OF LOT 12 AND S 40 FT OF LOT 13
  • Property ID: 2102824220180

Listed by Sterling Realty and Management

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Listing agents

— 5535 Penn Ave S —

  • Sterling Realty and Management

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NMLS#: 1598647

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NMLS#: 1598647

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Find the right home insurance for your new home!

with our affiliated in-house agency

Request a Quote

Save up to an additional 20% by bundling your home and auto together!

Schools serving 5535 Penn Ave S

School District:Minneapolis Public School District
NameGradesDistance
Armatage Elementary School
2501 West 56th Street, Minneapolis, MN 55410
K-50.2 mi
Anthony Middle School
5757 Irving Avenue South, Minneapolis, MN 55419
6-80.5 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 5535 Penn Ave S Get Price Alerts and Save Property

Date
Details
Price
Change
Source
11/02/2025
Price Reduced
$499,500
-5.74%
MLS
9/19/2025
Listed
$529,900
16.08%
MLS
10/31/2018
Sold
$456,500
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 5535 Penn Ave S

Year
Property Taxes
Change
Tax Assessment
Change
2025
$8,797
5%
$484,000
-7%
2023
$8,349
1%
$523,000
2%
2023
$8,232
—
$512,000
12%
2023
$8,232
6%
$459,000
4%
2020
$7,782
26%
$440,000
30%
2019
$6,165
1%
$339,500
12%
2018
$6,097
-2%
$303,000
—
2017
$6,230
3%
$303,000
7%
2016
$6,040
-1%
$283,500
4%
2015
$6,093
6%
$272,500
15%
2014
$5,751
17%
$237,000
5%
2013
$4,936
—
$225,500
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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5535 Penn Avenue S, Minneapolis, MN 55419 (MLS# 6791869) is a Duplex property with 0 bedrooms and 0 full bathrooms. 5535 Penn Avenue S is currently listed for $499,500 and was received on September 19, 2025. Want to learn more about 5535 Penn Avenue S? Do you have questions about finding other Duplex real estate for sale in Minneapolis? You can browse all Minneapolis real estate or contact a Coldwell Banker agent to request more information.

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