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2314 Portland Avenue S, Minneapolis, MN 55404

New Listing

$449,900

Property Type: Multi-Family Bedrooms: 9 Baths: 3 Square Footage: 5,375 Lot Size (sq. ft.): 6,098 Status: Active

Current Price: $449,900 List Date: 6/01/2026 Last Modified: 6/03/2026

Overview

Description

Excellent multifamily investment opportunity in a prime South Minneapolis location with long-term tenants! This well-maintained, large duplex at 2314 Portland Ave S, Minneapolis, MN 55404 offers spacious living arrangements with 5BR/2BA and 3BR/1BA units, separate entrances, and abundant off-street parking — a rare amenity in the urban core. The property combines strong functionality with excellent rental potential, making it ideal for both investors and owner-occupants seeking stable income and long-term appreciation. Spacious units, flexible layouts, and consistent tenant demand create an attractive opportunity in one of Minneapolis’ most accessible neighborhoods. Conveniently located near downtown Minneapolis, public transit, parks, restaurants, hospitals, and major employment corridors, this property offers outstanding connectivity and strong tenant appeal. Additional upside available through the City of Minneapolis 4D Affordable Housing Incentive Program, which can reduce p ... (Read more)

Listing Details MLS# 7075280

General Property Information

Lot Measurement: Acres
Multiple PIDs?: No
Owner Occupied: No
Waterfront Present: No
Year Built: 1900
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Main Floor Total SqFt: 1580
Above Ground SqFt: 4105
Below Grd Total SqFt: 1270
Total SqFt: 5375
Foundation Size: 1180
Style: (MF) Duplex Up and Down
Total Finished Sqft: 4105.00
Lot Dimensions: 48.00 X 124.00
Acres: 0.14
Assessment Pending: Unknown
Garage Stalls: 0

Property Features

Accessible: None Amenities Shared: Coin-op Laundry Owned; Common Garden Basement: Crawl Space; Drainage System; Full; Unfinished Construction Status: Previously Owned Exterior: Metal; Vinyl Fencing: Chain Link Foundation: Stone Fuel: Natural Gas Heating: Forced Air Lot Description: Public Transit (w/in 6 blks); Tree Coverage - Light Owner Pays: Insurance; Maintenance/Repair; Percentage Rent; Taxes Parking Characteristics: Driveway - Shared; Uncovered/Open Pool Description: None Road Frontage: City Street; Curbs; Paved Streets; Sidewalks Roof: Age Over 8 Years; Asphalt Shingles Sewer: City Sewer/Connected Stories: Two Tenant Pays: Electricity; Fuel; Trash Collection Unit 1 Amenities: Hardwood Floors; Kitchen Window; Tile Floors Unit 1 Appliances: Exhaust Fan/Hood; Range; Refrigerator Unit 1 Bath Description: Main Floor Full Bath Unit 1 Cooling: None Unit 1 Dining Room Description: Informal Dining Room Unit 1 Family Room Characteristics: Main Level Unit 1 Special Search: All Living Fac. on One Level Unit 2 Amenities: Hardwood Floors; Kitchen Window; Tile Floors Unit 2 Appliances: Dishwasher; Exhaust Fan/Hood; Range; Refrigerator Unit 2 Bath Description: Main Floor Full Bath Unit 2 Cooling: None Unit 2 Dining Room Description: Eat In Kitchen Unit 2 Family Room Characteristics: Main Level Unit 2 Special Search: All Living Fac. on One Level Water: City Water/Connected

Contract Information

Contingency: None
Original List Price: 449900
ListPrice: 449900
Owner is an Agent?: No
Auction?: No

Location Tax and Other Information

House Number: 2314
Street Name: Portland
Street Suffix: Avenue
Street Direction Suffix: S
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55404
Complex/Dev/Subdivision: Phillips West

Assessments

Tax With Assessments: 6406
Assessment Balance: 0

Building Information

Finished SqFt Above Ground: 2835
Finished SqFt Below Ground: 1270

More Information

Income and Expenses

Annual Electric Expense: 432
Annual Gross Expenses: 7280
Annual Gross Income: 45600
Annual Insurance Expense: 1600
Annual Net Income: 38320
Annual Caretaker Expense: 0
Annual Fuel Expense: 0
Annual Maintenance Expense: 0
Annual Repair Expense: 0
Annual Trash Expense: 0
Annual Water/Sewer Expense: 0
Total Annual Expenses: 0

Lease Details

Land Leased: Not Applicable

Miscellaneous Information

DP Resource: Yes
Homestead: No

Ownership

Fractional Ownership: No

Unit 1

Furnished?: No
Lease Expiration Date: 2027-05-31
Leased?: Yes
Level: Main Level
Unit Number: Yes
Annual Rent: 24600
Finished SqFt: 1580
Full Baths: 2
Monthly Expense: 303
Monthly Rent: 2050
No. of Units Like This: Yes
Total Baths: 2
Total Bedrooms: 5
Total Rooms: 10

Unit 2

Furnished?: No
Lease Expiration Date: 2027-03-31
Leased?: Yes
Unit Number: 2
Annual Rent: 21000
Finished SqFt: 1255
Full Baths: Yes
Monthly Expense: 160
Monthly Rent: 1750
No. of Units Like This: Yes
Total Baths: Yes
Total Bedrooms: 4
Total Rooms: 7

Unit Details

Total Units: 2

Office/Member Info

Association: MAAR

Location, Tax and Other Information

Legal Description: Lot 004 Block 001 HEATON & COMBES ADDN TO MPLS
Listing City: Minneapolis
Map Page: 106
Municipality: Minneapolis
School District: Minneapolis
School District Phone: 612-668-0000
Country: US
Property ID Number: 3402924110043
Tax Year: 2026
Tax Amount: 6406
In Foreclosure?: No
Potential Short Sale?: Yes
Lender Owned?: No

Directions & Remarks

Public Remarks: Excellent multifamily investment opportunity in a prime South Minneapolis location with long-term tenants! This well-maintained, large duplex at 2314 Portland Ave S, Minneapolis, MN 55404 offers spacious living arrangements with 5BR/2BA and 3BR/1BA units, separate entrances, and abundant off-street parking — a rare amenity in the urban core. The property combines strong functionality with excellent rental potential, making it ideal for both investors and owner-occupants seeking stable income and long-term appreciation. Spacious units, flexible layouts, and consistent tenant demand create an attractive opportunity in one of Minneapolis’ most accessible neighborhoods. Conveniently located near downtown Minneapolis, public transit, parks, restaurants, hospitals, and major employment corridors, this property offers outstanding connectivity and strong tenant appeal. Additional upside available through the City of Minneapolis 4D Affordable Housing Incentive Program, which can reduce property taxes by up to 40% annually if qualifying units are enrolled. The property is fully occupied with long-term tenants in place, providing stable and predictable income: Unit 1 (5BR/2BA): $2,050/month lease through May 31, 2027 Unit 2 (3BR/1BA): $1,750/month lease through March 31, 2027 Current Gross Rental Income: $3,800/month ($45,600 annually) Utilities: Trash & Water: $303.35/month Electric: $18/month Total Average Utilities: $321.35/month ($3,856 annually) Strong location, solid fundamentals, and future upside potential make this a compelling addition to any investment portfolio.
Directions: Portland North of Lake Street

Accessible

None: Yes

Amenities Shared

Coin-op Laundry Owned: Yes
Common Garden: Yes

Basement

Crawl Space: Yes
Drainage System: Yes
Full: Yes
Unfinished: Yes

Construction Status

Previously Owned: Yes

Exterior

Metal: Yes
Vinyl: Yes

Fencing

Chain Link: Yes

Foundation

Stone: Yes

Fuel

Natural Gas: Yes

Heating

Forced Air: Yes

Lot Description

Public Transit (w/in 6 blks): Yes
Tree Coverage - Light: Yes

Owner Pays

Insurance: Yes
Maintenance/Repair: Yes
Percentage Rent: Yes
Taxes: Yes

Parking Characteristics

Driveway - Shared: Yes
Uncovered/Open: Yes

Pool Description

None: Yes

Road Frontage

City Street: Yes
Curbs: Yes
Paved Streets: Yes
Sidewalks: Yes

Roof

Age Over 8 Years: Yes
Asphalt Shingles: Yes

Sewer

City Sewer/Connected: Yes

Stories

Two: Yes

Water

City Water/Connected: Yes

No. of Ranges

Two: Yes

No. of Refrigerators

Two: Yes

Tenant Pays

Electricity: Yes
Fuel: Yes
Trash Collection: Yes

Unit 1 Amenities

Hardwood Floors: Yes
Kitchen Window: Yes
Tile Floors: Yes

Unit 1 Appliances

Exhaust Fan/Hood: Yes
Range: Yes
Refrigerator: Yes

Unit 1 Bath Description

Main Floor Full Bath: Yes

Unit 1 Cooling

None: Yes

Unit 1 Dining Room Description

Informal Dining Room: Yes

Unit 1 Family Room Characteristics

Main Level: Yes

Unit 1 Special Search

All Living Fac. on One Level: Yes

Unit 2 Amenities

Hardwood Floors: Yes
Kitchen Window: Yes
Tile Floors: Yes

Unit 2 Appliances

Dishwasher: Yes
Exhaust Fan/Hood: Yes
Range: Yes
Refrigerator: Yes

Unit 2 Bath Description

Main Floor Full Bath: Yes

Unit 2 Cooling

None: Yes

Unit 2 Dining Room Description

Eat In Kitchen: Yes

Unit 2 Family Room Characteristics

Main Level: Yes

Unit 2 Special Search

All Living Fac. on One Level: Yes

Listing Office: Summit Realty LLC

Last Updated: June - 03 - 2026

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