UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Subdivision F A Savages Portland Ave Add
MLS Listing ID 7028179
Year Built 1960
Annual Tax Amount $11,577
Tax Year 2025
Contingent None
Lot Size 10,454 Sqft
Lot Dimensions 80 x 129
Property Description
Each unit features its own forced-air furnace, with residents paying their own heat — a major operational advantage that helps control owner expenses. The building also includes coin-operated laundry for additional income and convenient off-street parking for tenants.
Solid brick construction, individual mechanical systems, and a straightforward unit mix make this a stable, easy-to-manage asset. The property is also an ideal candidate for enrollment in the Minneapolis 4d Affordable Housing Program, offering the potential for a reduced property tax rate in exchange for maintaining qualifying affordable rents.
Situated in a strong South Minneapolis location near parks, shopping, transit, and major corridors, this property appeals to long-term renters seeking convenience and neighborhood charm.
Excellent opportunity for investors seeking steady cash flow with additional upside through tax optimization.
Owner is a licensed agent but not the listing agent.
Location
State MN
County Hennepin
Zoning Residential-Multi-Family
Interior
Heating Forced Air
Flooring Carpet, Wood
Inclusions Building, Leases
Fireplace No
Appliance Range, Refrigerator
Exterior
Parking Features Asphalt
Utilities Available Electric Separate, Heating Separate, Hot Water Common
Roof Type Age 8 Years or Less,Pitched
Present Use Residential
Building
Lot Description Tree Coverage - Light
Story Two
Foundation 2535
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
New Construction false
Schools
School District Minneapolis
Others
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