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Cash Flowing 6-Plex South Minneapolis 2524 Portland Ave 6 Unit Apartment Building $549,900 ($91,650/Unit) 10.11% Cap Rate Minneapolis, MN 55404
Investment Highlights
- Cashflow Day One
- Low Owner Expenses
- 10% Cap Rate
Executive Summary
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:
* 10% 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.
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:
* 10% 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.
Data Room Click Here to Access
- Offering Memorandum
Property Facts Under Contract
| Price | $549,900 | Property Subtype | Apartment |
| Price Per Unit | $91,650 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 10.11% | Building Size | 3,424 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 8.66 | No. Stories | 2 |
| No. Units | 6 | Year Built | 1886 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Price | $549,900 |
| Price Per Unit | $91,650 |
| Sale Type | Investment |
| Cap Rate | 10.11% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 8.66 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 3,424 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1886 |
| Opportunity Zone |
Yes |
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Walk Score®
Very Walkable (77)
Bike Score®
Biker's Paradise (90)
Property Taxes
| Parcel Number | 34-029-24-14-0067 | Improvements Assessment | $460,900 |
| Land Assessment | $73,100 | Total Assessment | $534,000 |
Property Taxes
Parcel Number
34-029-24-14-0067
Land Assessment
$73,100
Improvements Assessment
$460,900
Total Assessment
$534,000
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Cash Flowing 6-Plex South Minneapolis | 2524 Portland Ave
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