2314 Portland Avenue S, Minneapolis, MN 55404
- $429,900
- 9
- BD
- 3
- BA
- 4,105
- SqFt
- List Price
- $429,900
- Price Change
- ▼ $20,000 1782811061
- MLS#
- 7075280
- Status
- ACTIVE
- Type
- Multifamily
- Style
- (MF) Duplex Up and Down
- Bedrooms
- 9
- Bathrooms
- 3
- Living Area
- 4,105
- Acres
- 0.14
- Subdivision
- Phillips West
- Neighborhood
- 63
- Year Built
- 1900
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.
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Additional Information
- School District
- Minneapolis
- Amenities Shared
- Coin-op Laundry Owned, Common Garden
- Tax Year
- 2026
- Fencing
- Chain Link
- Fuel
- Natural Gas
- Lot Description
- Public Transit (w/in 6 blks), Tree Coverage - Light
- Sewer
- City Sewer/Connected
- Roof
- Age Over 8 Years, Asphalt
- Short Sale
- Yes
- Heating
- Forced Air
- Water
- City Water/Connected
- Basement
- Crawl Space, Daylight/Lookout Windows, Drainage System, Full, Unfinished
- Parking
- Concrete, Shared Driveway, Open
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Listing courtesy of Summit Realty LLC.
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