For Sale: Minneapolis MLS# 6731817
Active
$875,000
Multi-family: Triplex
Built 1889
5,669 sqft • 0.24 acres
Minneapolis schools
MLS# 6731817
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Property Description
Architectural Grandeur Meets Investment Opportunity
Originally built for Sylvester S. Cargill, this commanding Victorian triplex offers historic pedigree, generous square footage, and compelling flexibility for multi-generational living, creative use, or investment.
Located just a block from the American Swedish Institute and moments from Eat Street, Downtown Minneapolis, major hospitals, and commuter routes, this property delivers timeless charm and functional versatility. The layout includes:
Main House: 4, 000+ sq ft of elegant living space.
Carriage House Apartment: 1BR with private entry.
Studio Apartment: 1BR within the main house.
Lower-Level Suite: With separate access and lux 3/4 bath—ideal for Airbnb/STR thanks to proximity to ASI, Children’s, Abbott Northwestern, and St. Mary’s.
Unfinished Attic: Insulated, high-ceilinged space—ready to become a stunning 2BR apartment or luxurious owner’s retreat.
Professional Darkroom/Studio: Adds live/work or creative potential.
Four-Car Garage: Two heated bays with a workshop
Private Garden: Lush, serene backyard with koi pond.
Now at $875, 000, this property is priced to attract savvy buyers and investors. With multiple units, underutilized bonus spaces, and income projections supporting a strong return (depending on configuration), the value here is as tangible as the original millwork.
Whether you're seeking an owner-occupied lifestyle with income support or a fully optimized income-generating asset, 2601 Portland is an exceptional and rare offering in the heart of a dynamic neighborhood.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$875,000
Price per sq ft:
$154
Property Type:
Multi-family
City:
Minneapolis
Garage Spaces:
4
County:
Hennepin
Year Built:
1889
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
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
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.