2524 Portland Ave Minneapolis, MN 55404
- Apartment buildings
- 3,424 SF
- 0.16 lot acres
Current Use by Public Records
- People 2 Workx LLC / Recruiter
Property Details for 2524 Portland Ave
- Year built
- 1885
- Lot size
- 0.16 lot acres
- Property size
- 3,424 SF
- Property type
- Apartment buildings
Description
This exceptional six-unit apartment building, located at 2524 Portland Avenue in Minneapolis, Minnesota, presents a compelling investment opportunity. The property boasts a total of 3,424 square feet and sits on a 0.16-acre lot. The building comprises a diverse mix of units: one studio, three one-bedroom units, and two two-bedroom units, ensuring a balanced tenant profile. Each unit features individually metered utilities, with tenants responsible for all heat, electricity, and hot water (via six separate hot water heaters). Modern mini-split AC units provide climate control in every apartment. Recent upgrades include a new roof and siding, enhancing the building's curb appeal and longevity. The electrical system was completely replaced in 2020, ensuring modern and reliable infrastructure. The units themselves have been fully updated, contributing to their consistent high occupancy rate. The current month-to-month tenancy structure offers flexibility and potential for increased rental income. This turnkey property is a solid performer with a history of easy rentals, making it an ideal investment for both seasoned and aspiring real estate investors seeking a stable and profitable venture in a desirable Minneapolis neighborhood. The asking price is $650,000.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Minneapolis
- County
- Hennepin
- State
- Minnesota
- Longitude
- -93.2681
- Latitude
- 44.95647
