3108 Elliot Avenue, Minneapolis, MN 55407 (MLS# 7024111)
$525,000
Minneapolis, MN 55407
MLS# 7024111
Status: Pending
9 beds | 3 baths | 4218 sqft
1 / 19
Property Description
Rare opportunity to acquire a tri-plex with below-market financing! 2.5% ASSUMABLE LOAN â SAVE $700-$800/MO/$9000 ANNUALLY vs todayâs 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
Maps
Documents
Contract Information
Status: Pending
Off Market Date: 2026-08-25
Contingency: None
Current Price: 525000
Original List Price: 575000
ListPrice: 525000
List Date: 2026-03-11
Owner is an Agent?: No
Auction?: No
General Property Information
Lot Measurement: Square Feet
Multiple PIDs?: No
Waterfront YN: No
Year Built: 1894
Yearly/Seasonal: Yearly
Bedrooms: 9
Baths Total: 3
Main Floor Total SqFt: 1166
Above Ground SqFt: 3052
Below Grd Total SqFt: 1166
Total SqFt: 4218
Foundation Size: 1166
Lot Size SqFt: 4792
Style: (MF) Triplex
Total Finished Sqft: 3052.00
Lot Dimensions: 40x123
Assessment Pending: No
Location Tax and Other Information
House Number: 3108
Street Name: Elliot
Street Suffix: Avenue
Postal City: Minneapolis
County: Hennepin
State: MN
Zip Code: 55407
Complex/Dev/Subdivision: The Erastus Byers Add
Assessments
Tax With Assessments: 6926
Building Information
Finished SqFt Above Ground: 3052
Income and Expenses
Annual Gross Income: 52000
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
DP Resource: Yes
Homestead: Yes
Ownership
Fractional Ownership: No
Public Survey Info
Range#: 24
Section#: 02
Township#: 28
Unit 1
Furnished?: No
Leased?: Yes
Level: Main Level
Unit Number: 1
Annual Rent: 19440
Finished SqFt: 1166
Full Baths: 1
Monthly Expense: 100
Monthly Rent: 1620
No. of Units Like This: 1
Total Baths: 1
Total Bedrooms: 3
Total Rooms: 7
Unit 2
Furnished?: No
Leased?: Yes
Level: 2nd Level
Unit Number: 2
Annual Rent: 16740
Finished SqFt: 1166
Full Baths: 1
Monthly Expense: 100
Monthly Rent: 1395
No. of Units Like This: 1
Total Baths: 1
Total Bedrooms: 3
Total Rooms: 7
Unit 3
Furnished?: No
Leased?: Yes
Level: 3rd Level
Unit Number: 3
Annual Rent: 15840
Finished SqFt: 720
Full Baths: 1
Monthly Expense: 100
Monthly Rent: 1320
No. of Units Like This: 1
Total Baths: 1
Total Bedrooms: 3
Total Rooms: 7
Unit Details
Total Units: 3
Property Features
Accessible: None
Assumable Loan: Yes w/ Qualifying
Basement: Concrete Block; Storage Space
Construction Status: Previously Owned
Exterior: Stucco
Foundation: Stone
Fuel: Natural Gas
Heating: Baseboard; Boiler
Laundry: Common Area; In Basement
Lock Box Type: Combo
Parking Characteristics: Driveway - Shared
Sellers Terms: Assumable; Cash; Conventional; FHA; VA
Sewer: City Sewer/Connected
Water: City Water/Connected
Date (2).pdf Listing Office: Edina Realty, Inc.
Last Updated: October - 07 - 2026
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2026 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.
Friday 9th of October 2026 02:36 PM
218-998-4400
Mohagen Real Estate
Let's Connect
Mohagen Real Estate
sue@MohagenRealEstate.com
Office: 218-998-4400
Cell: 218-731-7376
Mohagen Real Estate is licensed in the State of Minnesota