Property Listing
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.
Property Information
Status: Active
Sub Type: ********
List Price: $449,900
MLS#: 7075280
Current Price: $449,900
Address: 2314 Portland Avenue S, Minneapolis, MN 55404
City: Minneapolis
State: MN
Postal Code: 55404
Geo Lat: 44.959542
Geo Lon: -93.268075
Subdivision: Phillips West
County: Hennepin
Property Description
Year Built: 1900
Lot Size SqFt: 6098.4
Gen Tax: 6406
Specials Inst: 0
High School: Minneapolis
Square Ft. Source:
Above Grade Finished Area: 2835
Below Grade Finished Area: 1270
Below Grade Unfinished Area:
Total SqFt.: 5375
Style: Array
Total Bedrooms: 9
Total Bathrooms: 3
Total Full Baths:
Garage Type:
Garage Stalls: 0
Waterfront:
Property Features
Exterior:
Roof:
Foundation:
Lot Feat/Fld Plain: Array
Interior Amenities:
Inclusions: ********
Exterior Amenities:
Heat System:
Air Conditioning:
Utilities: