For Sale: Minneapolis MLS# 6731817
Active
NEW!
$900,000
Multi-family: Triplex
Built 1899
5,669 sqft • 0.24 acres
Minneapolis schools
MLS# 6731817
Ask the Agent℠
Ask the Agent℠
Thank You!
An agent will be in contact with you soon to answer your question.
Property Description
Step into a rare opportunity with this architecturally grand Victorian triplex—originally built for Sylvester S. Cargill, brother of the founder of the Cargill Company—and steeped in Minneapolis history. Located just one block behind the American Swedish Institute and moments from Eat Street, Downtown, and major roadways, this property blends timeless elegance with forward-thinking flexibility.
The home has been lovingly owner-occupied in the expansive main residence, while two additional one-bedroom units—the carriage house and a second-floor apartment—provide steady rental income. Current rents are below market, offering immediate upside for investors looking to optimize cash flow.
But the income potential doesn't stop there. The lower level features a spacious bedroom, full plumbing, a bar, laundry, and a separate entry—perfectly positioned to become a third rental unit or short-term Airbnb. A professional darkroom/studio space on the same level opens doors for creative or small business use, ideal for buyers seeking a live/work configuration.
On the uppermost floor, an unfinished attic offers the square footage and ceiling height to create a stunning fourth unit or an expansive owner's suite.
The outdoor spaces are just as remarkable: a lush, private garden with a koi pond and a four-car garage—two bays heated and currently used as a workshop—enhance the usability and appeal for both tenants and owners.
Whether you're a seasoned investor or a creative entrepreneur, 2601 Portland Avenue offers a rare combination of income potential, historical charm, and functional versatility in one of the city's most dynamic and evolving neighborhoods.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$900,000
Price per sq ft:
$159
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
4
County:
Hennepin
Year Built:
1899
State:
MN
Property Style:
Triplex
Zip Code:
55407
Neighborhood/Area:
Phillips West
Subdivision Name:
Home Add
Interior
Finished Area:
5,669 ft2
Living Area:
5,669 ft2
Ranges:
Two
Refrigerators:
Three
Basement Details:
- Egress Window(s)
- Finished
- Full
Exterior
Stories:
More Than 2 Stories
Garage Spaces:
4
Garage Dimensions:
23x19 and 31x24
Garage Size:
1,206 ft2
Foundation Size:
1,488 ft2
Fencing:
Full
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Fireplace(s)
- Forced Air
Parking Features:
- Concrete
- Detached
- Heated Garage
Shared Amenities:
In-Ground Sprinkler System
Road Frontage:
- City Street
- Curbs
- Paved Streets
- Sidewalks
Exterior Material:
Stucco
Roof Details:
Age 8 Years or Less
Lot & Land
Acres:
0.24
Geolocation:
44.955352, -93.26725
Lot Dimensions:
88 x 118
Zoning:
Residential-Multi-Family
Lot Description:
- Corner Lot
- Many Trees
- Public Transit (w/in 6 blks)
Schools
School District:
1
District Phone:
612-668-0000
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$1,979
Annual Fuel Expense:
$2,014
Annual Insurance Expense:
$6,803
Annual Maintenance Expense:
$3,897
Annual Gross Expense:
$29,818
Annual Trash Expense:
$1,326
Annual Water/Sewer Expense:
$1,326
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$7,628
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$7,628
Income
Annual Gross Income:
$25,200
Units
Total Units:
3
Miscellaneous
Fuel System:
Natural Gas
Owner Occupied:
Yes
Sewer System:
City Sewer/Connected
Water System:
City Water/Connected
Mortgage Calculator
Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply enter
the price of the home, your down payment and loan term. Property taxes are based on the last
known value for this property or 0.012 of property
price when data is unavailable. Your interest rate and insurance rates will vary based on
credit score, loan type, etc.
This amortization schedule shows how much of your monthly payment will go towards the principle and how
much will go towards the interest.
| Month | Principal | Interest | P&I | Balance |
|---|---|---|---|---|
| Year | Principal | Interest | P&I | Balance |
Listing provided by RMLS,
courtesy of Lakes Sotheby's International Realty.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.