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    Ely, MN Multifamily Properties for Sale

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    Ely Commercial Property with Income
    $285,000
    3,768 SF

    Ely Commercial Property with Income

    120 E Sheridan St, Ely, MN 55731

    Commercial building with high traffic and dual rental income.

    • High‑traffic location on Sheridan Street (7,700 vehicles/day) in Ely's main business corridor, ideal for attracting customers.
    • Dual income potential from commercial space and two rentable 1‑bedroom apartments.
    • Versatile commercial space divisible into two separate units for multiple tenants or increased rental income.
    • 3,000+ sq ft commercial building with four large display windows for showcasing merchandise.
    • Located in a tourism‑rich area near the Boundary Waters Canoe Area Wilderness, state parks, and resorts.
    Updated: Sep 9, 2025
    View details
    Mixed-Use Building in Downtown Ely
    $390,000
    8,078 SF

    Mixed-Use Building in Downtown Ely

    216 E Sheridan St, Ely, MN 55731

    Two-story building with restaurant and four apartments in Ely.

    • Prime downtown Ely location on Highways 1/169.
    • Multi‑purpose commercial real estate with restaurant and apartments.
    • Restaurant space of 4,014 sq. ft. with seating for 150.
    • Four residential rental units on the second floor.
    • Income potential from 3 out of 4 rented apartment units.
    View details
    Based on your search, we've compiled 9 Potential Opportunities for your consideration. Besides 2 Active listings in Ely, MN, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 3 Off-Market properties to explore as potential leads

    Explore Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Updated Fourplex in Tower, MN
    $349,000
    4,467 SF

    Updated Fourplex in Tower, MN

    Fully leased fourplex with updated units and expansion potential.

    605 Main St, Tower, MN 55790
    View details
    Lake Vermilion Resort Opportunity
    $1,400,000

    Lake Vermilion Resort Opportunity

    Quaint resort on Lake Vermilion with cabins and RV sites.

    2001 A&B Bayview Dr, Tower, MN 55790
    View details
    Hibbing Duplex with Two Units
    $129,900
    2,006 SF

    Hibbing Duplex with Two Units

    Spacious Hibbing duplex featuring separate utilities and a two-stall garage.

    2511 3Rd Ave E, Hibbing, MN 55746
    View details
    32-Unit Apartment Complex on Highway
    $869,900
    8,120 SF

    32-Unit Apartment Complex on Highway

    32-unit apartment complex with high-visibility frontage on Hwy 169.

    801 E 41St St, Hibbing, MN 55746
    View details

    Explore Off-Market Properties in Ely, MN

    Consider similar Off-Market properties in Ely, MN. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

    338 4th E Ave

    338 4th E Ave

    APARTMENT HOUSE (5+ UNITS) • 2,320 SF
    Value Estimation
    $135,000
    338 4th E Ave, Ely, MN 55731-1553
    View details
    127 1st E Ave

    127 1st E Ave

    APARTMENT HOUSE (5+ UNITS) • 4,476 SF
    Value Estimation
    $280,000
    127 1st E Ave, Ely, MN 55731-1261
    View details
    100 2nd W Ave, Unit 2

    100 2nd W Ave, Unit 2

    APARTMENT HOUSE (5+ UNITS) • 9,990 SF
    Value Estimation
    $515,000
    100 2nd W Ave, Ely, MN 55731-1168
    View details

    Ely, MN Multifamily Properties Investment Opportunities Market Analysis

    Explore 5 multifamily properties for sale in Ely, MN on our real estate platform. These investment opportunities span a total of 0 square feet of properties for sale, with an estimated market value of $1,090,000.

    Prices for multifamily properties in Ely, MN start at $0.00, averaging $218,000, and reaching up to $390,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you have the most current data.

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    Most Searched ZIP Codes in Ely, MN

    • 55731

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