3108 Elliot Avenue,Minneapolis, MN 55407
Minneapolis, MN 55407
Description
Rare opportunity to acquire a tri-plex with below-market financing! 2.5% ASSUMABLE LOAN - SAVE $700-$800/MO/$9000 ANNUALLY vs today's rates. Buyer can assume approx. $432K at 2.5% creating a dramatically lower monthly payment than current market financing. Additional income from coin-operated laundry. Major capital improvements including NEW ROOF (2025), new sewer line (2024), updated electrical, boiler and chimney brought up to code. Fully rented triplex with separate gas and electric, hardwood floors, abundant natural light, basement storage, on-site laundry, PRIVATE OFF-STREET PARKING, and a backyard space. Located 2 blocks from 66-acre Powderhorn Park (with central lake, recreational facilities and trails) and 3 miles from downtown Mpls, offers walkability to local cafes, restaurants, and shops which supports consistent tenant demand. Showings require 24 hour notice.
Details
| MLS # | 7024111 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1894 |
| Days On Site | 221 |
| Listing Provided By | Edina Realty, Inc. | Melanie Swensen |
Features
| Bed(s) | 9 |
|---|---|
| Bath(s) | 3 |
| SQ Feet | 3,052 |
| Basement | Y |
| Units | 3 |
| Acreage | 0.11 |
Interior
| Heating | Baseboard, Boiler |
|---|
Parking
| Parking Features | Shared Driveway |
|---|
Taxes
| Property | 6926 |
|---|
Area Information
| State | MN |
|---|---|
| County | Hennepin |
| City | Minneapolis |
| Zip Code | 55407 |
| Area | 64 |
| Community Name | The Erastus Byers Add |
| School District | 1 |
| High School | Minneapolis |
| Listing VS Median (in The Erastus Byers Add) | |
Price: $525,000 low | high Med: $525,000 sqft: 3,052 low | high Med: 3,052 $ / sqft: $172 low | high Med: $172 On site: 221 low | high Med: 221 | |
Market Activity 55407
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Listings courtesy of Northstar MLS as distributed by MLS GRID.
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Learn More About This Property
| State | MN |
|---|---|
| County | Hennepin |
| City | Minneapolis |
| Zip Code | 55407 |
| Area | 64 |
| Community Name | The Erastus Byers Add |
| School District | 1 |
| High School | Minneapolis |
| Listing VS Median (in The Erastus Byers Add) | |
Price: $525,000 low | high Med: $525,000 sqft: 3,052 low | high Med: 3,052 $ / sqft: $172 low | high Med: $172 On site: 221 low | high Med: 221 | |
