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$699,000

  • For Sale
  • Active
  • Commercial
  • 5,050 Sq. Ft.
  • 0.1 Acres
See This Home
Save This Home
See This Home
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Prime 6 unit building in the growing Longfellow neighborhood! All the heavy lifting done with recent updates and 100% occupancy! Combination of long term tenants and recent move-ins, with a total gross scheduled rent of $7,400 per month with room to grow! Step into cashflow day one, with great upside with lease renewals next year. Too many updates to list, see the supplements for a full list of improvements. New high efficiency boiler/hot water heater combi unit along with many new energy efficient appliances account for the extremely low operating cost as seen in the financials. Run your own numbers, but current rents and actual expenses have the building at over an 8 cap, with aggressive rents pushing it higher. Schedule your showing today, and add this cash flowing asset to your portfolio!

Full Property Details for 2818 E 31st St

General

  • Price: $699,000
  • Taxes: $11,051 (2025)
  • Status: Active
  • Type: Commercial
  • Source: NorthStarMLS_RMLS
  • MLS ID: 6770334
  • Updated: 3/27/2026
  • Added to Site: 243 day(s) ago

Interior

  • Appliances: Range, Refrigerator
  • Flooring: Wood

Rooms

Bathrooms

  • Total Bathrooms: 6

Bedrooms

  • Total Bedrooms: 10

Parking

  • Parking Features: Parking Lot

Location

  • County: Hennepin
  • Township: Minneapolis
  • Subdivision: Libbys Add
  • Neighborhood: 44
  • Driving Directions: Minnehaha to E 31st

School Information

  • School District: 558 - Minneapolis
  • High School District: Minneapolis

Heating & Cooling

  • Cooling Type: Wall Unit(s)
  • Heating Type: Baseboard, Boiler
  • Heating Fuel: Natural Gas

Utilities

  • Sewer: City Sewer Connected
  • Water: City Water (Connected)
  • Utility Description: Electric Separate, Heating Common, Hot Water Common

Structural Information

  • Basement: Yes
  • Foundation Size: 1960
  • Roof: Asphalt
  • Disability Access: None
  • Square Feet: 5,050
  • Finished Down/Base.: 5,050 Sq. Ft.
  • Current Bldg. Use: Residential
  • Year Built: 1960

Lot Features

  • Lot Size (Acres): 0.1
  • Lot Dimensions: 60 x 70
  • Zoning: Residential-Multi-Family

Financial Considerations

  • Operating Expenses: $13,283.28
  • Tax Amount: $11,051.6
  • Tax Year: 2025
  • Owner Pays: Gas, Insurance, Grounds Care, Snow Removal, Trash Collection, Water
  • Tenant Pays: Electricity
  • Pays Electric: Tenant Pays
  • Pays Gas: Owner Pays
  • Pays Trash: Owner Pays
  • Pays Water: Owner Pays

Disclosures and Reports

  • Legal Description: BLOCK 001 LIBBYS ADDN TO MPLS W 60 FT OF LOTS 5 AND 6
  • Inclusions: Building
  • Property ID: 102824110053

Listed by Keller Williams Classic Rlty NW

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— 2818 E 31st St —

  • Keller Williams Classic Rlty NW

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NMLS#: 1598647

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Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Find the right home insurance for your new home!

with our affiliated in-house agency

Request a Quote

Save up to an additional 20% by bundling your home and auto together!

Schools serving 2818 E 31st St

School District:Minneapolis Public School District
NameGradesDistance
Anishinabe Academy
3100 East 28th Street, Minneapolis, MN 55406
PK-50.4 mi
Andersen Community
1098 Andersen Lane, Minneapolis, MN 55407
6-81.4 mi
Dowling Elementary School
3900 West River Parkway, Minneapolis, MN 55406
K-51.7 mi
South Senior High School
3131 19th Avenue South, Minneapolis, MN 55407
9-120.7 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 2818 E 31st St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
8/22/2025
Listed
$699,000
20.52%
MLS
10/03/2024
Sold
$580,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 2818 E 31st St

Year
Property Taxes
Change
Tax Assessment
Change
2025
$11,052
14%
$606,000
5%
2023
$9,659
1%
$575,000
-3%
2023
$9,541
—
$592,600
6%
2023
$9,541
10%
$558,000
14%
2020
$8,644
22%
$489,000
25%
2019
$7,097
11%
$391,000
12%
2018
$6,400
6%
$349,000
8%
2017
$6,054
2%
$323,000
5%
2016
$5,946
10%
$307,500
15%
2015
$5,428
-7%
$267,500
—
2014
$5,842
-1%
$267,500
—
2013
$5,875
—
$267,500
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Keller Williams Classic Rlty NW

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2818 E 31st Street, Minneapolis, MN 55406 (MLS# 6770334) is a Commercial property. 2818 E 31st Street is currently listed for $699,000 and was received on August 14, 2025. Want to learn more about 2818 E 31st Street? Do you have questions about finding other Commercial real estate for sale in Minneapolis? You can browse all Minneapolis real estate or contact a Coldwell Banker agent to request more information.

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