2524 Portland Ave - Cash Flowing 6-Plex South Minneapolis- 9% Cap 6 Unit Apartment Building Offered at $585,000 at a 9.50% Cap Rate Minneapolis, MN 55404

Turn-Key 6-Unit Multifamily in Prime South Minneapolis
Welcome to 2524 Portland Ave S, a fully updated six-unit building offering immediate cash flow and exceptional long-term stability. This property is perfect for both investors and owner-occupants looking to live rent-free while generating income from day one.
Featuring one efficiency, three 1-bedrooms, and two 2-bedroom units, this building has a strong rental history and historically low vacancy. All tenants are currently month-to-month, giving new ownership maximum flexibility.
Property Highlights:
* 9% CAP Rate – strong performer with low owner expenses
* Turn-key condition – units are modern, clean, and easy to rent
* Tenants pay ALL utilities including heat, electricity, and hot water
* Six separate hot water heaters + fully separated heat/electric
* Mini-splits with AC installed in every unit
* Newer roof & siding for reduced long-term operating costs
* Electrical updated in 2020
* Stable, high-demand location near transit, hospitals, and downtown
This is a rare opportunity to acquire a well-maintained, fully upgraded multifamily asset with strong cash flow, minimal owner responsibilities, and versatility for future value-add or owner-occupancy.
A rock-solid performer in an unbeatable location—don’t miss this one.