2818 E 31st Street, Minneapolis, MN 55406
- Added:
- Aug 14, 2025
- Days on Market:
- 315
- Last Refresh:
- Jun 24 at 9:06 pm
Property Features for 2818 E 31st Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Residential-Multi-Family
- Bedrooms
- 10
- Rooms
- Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- Parking features
- Parking Lot
- Exterior features
- Brick/Stone, Stucco
- Appliances
- Range, Refrigerator
- Standard status
- Active
- APN
- 0102824110053
- Lot size
- 0.10 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 11051.6
Utilities
- Heating system
- Baseboard
- Cooling system
- Wall Unit(s)
Building Details
- Year built
- 1960
- Flooring type
- Wood
- Roof type
- Asphalt, Shingle
- Architectural style
- Other
Listing agent Michael Moe (218) 310-5947
Listing office Keller Williams Classic Realty Northwest 10402 73rd Ave N, Maple Grove, MN (763) 657-4444
Listing date Aug 14, 2025
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
- High cash flow potential with an 8%+ capitalization rate.
- Fully occupied 6‑unit building, providing immediate income.
- Recent updates completed, minimizing immediate maintenance concerns.
- Gross scheduled rent of $7,400 per month with potential for increases.
- New, high‑efficiency boiler/hot water heater combi unit and energy‑efficient appliances contribute to low operating costs.
- Located in the growing Longfellow neighborhood.
Overview
The property is located at 2818 E 31st Street within Residential-Multi-Family zoning. The offering is described with a total gross scheduled rent of $7,400 per month, and the remarks indicate there may be additional upside through upcoming lease renewals. The lot size is listed as 0.1 acres.
From an acquisition standpoint, this building is presented as “cashflow day one,” with the current income and expenses described in the financial materials provided with the listing. The seller also states the property is performing at more than an 8 cap rate based on current rents and actual expenses, and encourages buyers to run their own numbers. If you’re evaluating residential income properties in a multifamily zoning district, this updated, fully occupied 6-unit could fit well as a manageable addition to a portfolio.
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Minneapolis
- County
- Anoka
- State
- Minnesota
- Longitude
- -93.230647
- Latitude
- 44.946992
