2524 Portland Avenue Minneapolis, MN 55404
For Sale MLS# 7048349
Other
Details for 2524 Portland Avenue
MLS# 7048349
Description for 2524 Portland Avenue, Minneapolis, MN, 55404
Portland Avenue Apartments is a six-unit multifamily property located in the Phillips West neighborhood of Minneapolis. The property features a mix of one studio, three one-bedroom, and two two-bedroom residences, offering a range of options for tenants. Positioned less than half a mile from Peavey Field Park, with its basketball courts and soccer field, the property benefits from a convenient location near local recreational amenities.Built in 1885, the property has been well cared for over the years, reflecting consistent maintenance and attention. The six residences average 692 square feet in size, with rents averaging $954 per month. The property also includes six off-street parking spaces, providing added convenience for residents in an urban setting. Portland Avenue Apartments offers an attractive investment opportunity with stable rental income, a desirable unit mix, and a central location. Its combination of historical charm and practical updates makes it a compelling addition to a multifamily portfolio in Minneapolis. Property Highlights-A variety of unit types cater to a broad tenant base: 1 studio, 3 one-bedrooms, and 2 two-bedrooms-All new mechanicals from 2017. Roof, Windows, Mini Splits, plumbing and electrical.-Ample parking with 6 off-street parking spaces-Low expenses: Tenants pay for heat, electric, and hot water. Property taxes benefit from reduced rates due to participation in the 4D tax incentive program.
Listing Information
Property Type: Commercial
Status: Active
Bedrooms: 7
Bathrooms: 6
Lot Size: 0.16 Acres
Square Feet: 3,556 sq ft
Year Built: 1885
Foundation: 1,762 sq ft
Subdivision: Hales Add
Number Of Units Total: 6
Current Use: Residential
County: Hennepin
Days On Market: 66
Construction Status: Previously Owned
School Information
District: 1 - Minneapolis
Interior Features
Accessibility: Other
Utilities
Water: City Water - In Street
Sewer: City Sewer/Connected
Other Utilities: Electric Separate,Heating Separate,Hot Water Separate
Heating: Ductless Mini-Split, Electric
Exterior / Lot Features
Open Parking: 6
Parking Description: Parking Lot
Exterior: Vinyl
Roof: Pitched
Lot Dimensions: 55X125
Zoning: Residential-Multi-Family
Additional Exterior/Lot Features: Land Inclusions - Building,Fixture/Equipment,Land,Leases,Rental License
Driving Directions
Exit 35W and E 26th Street. In-between E 25th St and E 26th St.
Financial Considerations
Tenant Pays: Electric,Heat
Owner Pays: Trash,Water
Gross Income: 68701
Tax/Property ID: 3402924140067
Tax Amount: 1985
Tax Year: 2025
HomeStead Description: Non-Homesteaded
A broker reciprocity listing courtesy: Marcus & Millichap
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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Payment Calculator
Interest rate and annual percentage rate (APR) are based on current market conditions, are for informational purposes only, are subject to change without notice and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score and other variables. Estimated closing costs used in the APR calculation are assumed to be paid by the borrower at closing. If the closing costs are financed, the loan, APR and payment amounts will be higher. If the down payment is less than 20%, mortgage insurance may be required and could increase the monthly payment and APR. Contact us for details. Additional loan programs may be available. Accuracy is not guaranteed, and all products may not be available in all borrower's geographical areas and are based on their individual situation. This is not a credit decision or a commitment to lend.
Sales History & Tax Summary for 2524 Portland Avenue
Sales History
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Tax Summary
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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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