2524 Portland Avenue Minneapolis, MN 55404
Pending MLS# 7004435
3,424 sq ft Commercial
Details for 2524 Portland Avenue
MLS# 7004435
Description for 2524 Portland Avenue, Minneapolis, MN, 55404
Welcome to 2524 Portland Ave S, a fully updated six-unit building offering immediate cash flow and exceptional long-term stability. This property is perfect for both investors and owner-occupants looking to live rent-free while generating income from day one.Featuring one efficiency, three 1-bedrooms, and two 2-bedroom units, this building has a strong rental history and historically low vacancy. All tenants are currently month-to-month, giving new ownership maximum flexibility.Property Highlights:* 9% CAP Rate – strong performer with low owner expenses* Turn-key condition – units are modern, clean, and easy to rent* Tenants pay ALL utilities including heat, electricity, and hot water* Six separate hot water heaters + fully separated heat/electric* Mini-splits with AC installed in every unit* Newer roof & siding for reduced long-term operating costs* Electrical updated in 2020* Stable, high-demand location near transit, hospitals, and downtownThis is a rare opportunity to acquire a well-maintained, fully upgraded multifamily asset with strong cash flow, minimal owner responsibilities, and versatility for future value-add or owner-occupancy.A rock-solid performer in an unbeatable location—don’t miss this one.
Listing Information
Property Type: Commercial, Apartments/Multi Family
Status: Pending
Bedrooms: 7
Bathrooms: 6
Lot Size: 0.16 Acres
Square Feet: 3,424 sq ft
Year Built: 1885
Foundation: 1,570 sq ft
Stories: 2 Stories
Subdivision: Hales Add
Number Of Units Total: 6
Current Use: Commercial
County: Hennepin
Days On Market: 62
Construction Status: Previously Owned
School Information
District: 1 - Minneapolis
Interior Features
Basement: Unfinished
Utilities
Water: City Water/Connected
Sewer: City Sewer/Connected
Other Utilities: Hot Water Separate
Heating: Natural Gas, Baseboard
Exterior / Lot Features
Open Parking: 5
Parking Description: Driveway - Other Surface
Exterior: Aluminum Siding
Lot Dimensions: 55x125
Zoning: Residential-Multi-Family
Additional Exterior/Lot Features: Land Inclusions - Building
Unit Information
Unit 1 Actual Rent: 875
Unit 1 Baths Total: 1
Unit 2 Actual Rent: 1050
Unit 2 Baths Total: 1
Unit 2 Beds Total: 2
Unit 3 Actual Rent: 950
Unit 3 Baths Total: 1
Unit 3 Beds Total: 1
Unit 4 Actual Rent: 925
Unit 4 Baths Total: 1
Unit 4 Beds Total: 1
Unit 5 Actual Rent: 1000
Unit 5 Baths Total: 1
Unit 5 Beds Total: 2
Unit 6 Actual Rent: 925
Unit 6 Baths Total: 1
Unit 6 Beds Total: 1
Driving Directions
2524 Portland
Financial Considerations
Tenant Pays: Electric,Heat,Hot Water
Owner Pays: Common Area Maintenance,Other,Trash
Gross Income: 68700
Tax/Property ID: 3402924140067
Tax Amount: 1985
Tax Year: 2025
HomeStead Description: Non-Homesteaded
A broker reciprocity listing courtesy: AARE
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Edina Realty, Inc. are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail and detailed information about them includes the name of the listing brokers. Edina Realty, Inc. is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Edina Realty, Inc., a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc. IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Open House information is subject to change without notice. Information deemed reliable but not guaranteed.
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Sales History & Tax Summary for 2524 Portland Avenue
Sales History
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Tax Summary
| Tax Year | Estimated Market Value | Total Tax |
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Data powered by ATTOM Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
Schools
Schools nearby 2524 Portland Avenue
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Data powered by ATTOM Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
The schools shown represent both the assigned schools and schools by distance based on local school and district attendance boundaries. Attendance boundaries change based on various factors and proximity does not guarantee enrollment eligibility. Please consult your real estate agent and/or the school district to confirm the schools this property is zoned to attend. Information is deemed reliable but not guaranteed.
SchoolDigger ® Rating
The SchoolDigger rating system is a 1-5 scale with 5 as the highest rating. SchoolDigger ranks schools based on test scores supplied by each state's Department of Education. They calculate an average standard score by normalizing and averaging each school's test scores across all tests and grades.
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