For Sale: Minneapolis MLS# 7075280
Active
NEW!
$449,900
Multi-family: Duplex Up and Down
9 br • 3 ba • Built 1900
4,105 sqft • 0.14 acres
Minneapolis schools
MLS# 7075280
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Property Description
Excellent multifamily investment opportunity in a prime South Minneapolis location with long-term tenants! This well-maintained, large duplex at 2314 Portland Ave S, Minneapolis, MN 55404 offers spacious living arrangements with 5BR/2BA and 3BR/1BA units, separate entrances, and abundant off-street parking — a rare amenity in the urban core.
The property combines strong functionality with excellent rental potential, making it ideal for both investors and owner-occupants seeking stable income and long-term appreciation. Spacious units, flexible layouts, and consistent tenant demand create an attractive opportunity in one of Minneapolis’ most accessible neighborhoods.
Conveniently located near downtown Minneapolis, public transit, parks, restaurants, hospitals, and major employment corridors, this property offers outstanding connectivity and strong tenant appeal.
Additional upside available through the City of Minneapolis 4D Affordable Housing Incentive Program, which can reduce property taxes by up to 40% annually if qualifying units are enrolled.
The property is fully occupied with long-term tenants in place, providing stable and predictable income:
Unit 1 (5BR/2BA): $2, 050/month lease through May 31, 2027
Unit 2 (3BR/1BA): $1, 750/month lease through March 31, 2027
Current Gross Rental Income: $3, 800/month ($45, 600 annually)
Utilities:
Trash & Water: $303.35/month
Electric: $18/month
Total Average Utilities: $321.35/month ($3, 856 annually)
Strong location, solid fundamentals, and future upside potential make this a compelling addition to any investment portfolio.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$449,900
Price per sq ft:
$110
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
0
County:
Hennepin
Year Built:
1900
State:
MN
Property Style:
Duplex Up and Down
Zip Code:
55404
Neighborhood/Area:
63
Subdivision Name:
Phillips West
Interior
Bedrooms:
9
Bathrooms:
3
Finished Area:
4,105 ft2
Living Area:
4,105 ft2
Refrigerators:
Two
Basement Details:
- Crawl Space
- Daylight/Lookout Windows
- Drainage System
- Full
- Unfinished
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
1,180 ft2
Fencing:
Chain Link
Handicap Accessible:
None
Heating System:
Forced Air
Parking Features:
- Concrete
- Open
- Shared Driveway
Shared Amenities:
- Coin-op Laundry Owned
- Common Garden
Road Frontage:
- City Street
- Curbs
- Paved Streets
- Sidewalks
Pool:
None
Roof Details:
- Age Over 8 Years
- Asphalt
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.14
Geolocation:
44.9595424229, -93.2680750427
Lot Dimensions:
48.00 X 124.00
Zoning:
Residential-Multi-Family
Lot Description:
- Public Transit (w/in 6 blks)
- Tree Coverage - Light
Schools
School District:
1
District Phone:
6126680000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$432
Annual Fuel Expense:
None
Annual Insurance Expense:
$1,600
Annual Maintenance Expense:
None
Annual Trash Expense:
None
Annual Water/Sewer Expense:
None
Tenant Expenses:
Electricity, Fuel, Trash Collection
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$6,406
Lender-owned:
No
Assessment Pending:
Unknown
Taxes w/ Assessments:
$6,406
Income
Annual Gross Income:
$45,600
Rent
Annual Net Income:
$38,320
Units
Total Units:
2
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Summit Realty LLC.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.