South Minneapolis 4plex
2106 Elliot Avenue, Minneapolis, MN 55404
MULTI_FAMILY - Minneapolis, MN
Property size:
3,514 SFLot size:
0.10 AcresPrice / SF:
$163/SF- Added:
- Jun 17, 2026
- Days on Market:
- 14
- Last Refresh:
- Jun 30 at 1:06 pm
Property Features for 2106 Elliot Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bedroom 1, Bedroom 3, Bathroom 3, Bedroom 2, Basement, Bedroom 5, Bedroom 4, Bathroom 2, Bedroom 6, Bathroom 1
- Exterior features
- Aluminum Siding, Brick/Stone, Vinyl
- Standard status
- Active
- APN
- 3502924210019
- Size
- 3,514 SF
- Lot size
- 0.10 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 6760
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1883
Listing agent Christopher Cornet (952) 368-0021
Listing office Bridge Realty, LLC 1101 E 78TH STREET SUITE 300, Bloomington, MN (952) 368-0021
Listing date Jun 17, 2026
MLS# 7095120
Listing URL
Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- South Minneapolis 4plex built in 1883 with two 3‑bedroom units and two studio apartments
- Each of the 4 units has separate electric, gas, water heaters, and furnaces, plus separate controls for common areas
- Recently rehabbed with new vinyl flooring, new carpet, and refinished hardwood flooring in all units and common areas
- All windows are efficient vinyl with double‑pane glass; brick exterior with maintenance‑free aluminum and vinyl siding
- Recently updated common areas, hallways, and basement; large basement has multiple private access points for potential expansion
- Estimated rent values: about $2,000/month per 3‑bed unit and about $1,000/month per studio; total estimated rent about $6,000/month
Overview
This South Minneapolis 4plex offers a practical mix of apartment sizes, with two large 3-bedroom units and two studio apartments. The property has been recently rehabbed, including fresh finishes and updates across each unit and the common areas, such as hallways and the basement. Interiors feature high ceilings and abundant natural light, with new vinyl flooring, new carpet, and refinished hardwood floors throughout. The building also includes efficient double-pane vinyl windows.
Utility service is separated by unit for electric, gas, and water heaters, with separate furnaces as well, supporting straightforward tenant management and utility allocation. Externally, the property features an all-brick exterior in good condition, along with maintenance-free aluminum and vinyl siding. Custom carved stone accents are present throughout the exterior and are reported to be in excellent condition.
The large basement includes multiple private access points, which may support future expansion considerations. With units described as turn-key and ready for occupancy, this configuration can fit investors looking for a multi-unit rental setup or owner-occupier buyers seeking to offset housing costs through on-site rents. Located near major amenities with easy freeway access, the building is positioned for convenient day-to-day access.
Utility service is separated by unit for electric, gas, and water heaters, with separate furnaces as well, supporting straightforward tenant management and utility allocation. Externally, the property features an all-brick exterior in good condition, along with maintenance-free aluminum and vinyl siding. Custom carved stone accents are present throughout the exterior and are reported to be in excellent condition.
The large basement includes multiple private access points, which may support future expansion considerations. With units described as turn-key and ready for occupancy, this configuration can fit investors looking for a multi-unit rental setup or owner-occupier buyers seeking to offset housing costs through on-site rents. Located near major amenities with easy freeway access, the building is positioned for convenient day-to-day access.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $78.0k | $22.20 |
| − Vacancy | −$4.7k | −$1.33 |
| EGI | $73.3k | $20.87 |
| − OpEx | −$22.0k | −$6.26 |
| NOI | $51.3k | $14.61 |
3,514 SF · lease $22.20/SF/yr · vacancy 5.98% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$733.5K
$641.8K – $855.7K
NOI $51,342 @ 7.0% cap · market cap 8.94%
Second Best
Apartment 5plus
$673.7K
$589.5K – $786.0K
NOI $47,157 @ 7.0% cap · market cap 8.21%
Theoretical Best
Office A
$838.4K
$733.6K – $978.1K
NOI $58,686 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Minneapolis
- County
- Anoka
- State
- Minnesota
- Longitude
- -93.261444
- Latitude
- 44.961546
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Turn-key 4-unit building with fully separate utilities, recently rehabbed interiors, and a large basement.
Where is this quadplex located?
The property is located at 2106 Elliot Avenue Minneapolis, MN.
What is the asking price?
The asking price for this property is $574,500.
What are key features of this property?
This property features: South Minneapolis 4plex built in 1883 with two 3‑bedroom units and two studio apartments; Each of the 4 units has separate electric, gas, water heaters, and furnaces, plus separate controls for common areas; Recently rehabbed with new vinyl flooring, new carpet, and refinished hardwood flooring in all units and common areas
