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$569,900 Coming Soon

  • For Sale
  • Coming Soon
  • Multi-Family
  • 4 Units
  • 8 Total Beds
  • Updated 7 days ago
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Excellent opportunity for an owner-occupant or investor! This South Minneapolis fourplex features an attractive brick exterior and four spacious 2-bedroom, 1-bathroom apartments. Built in 1923, the two-story building offers approximately 4,096 finished square feet and retains much of its original charm, including hardwood floors, beautiful natural woodwork, and original built-in cabinetry. One apartment is currently vacant, creating an ideal opportunity for an owner-occupant to move in while collecting rental income from the other three units. Investors will appreciate the established rental history, with the property most recently generating over $69,000 in annual gross rents when fully occupied. Two apartments were refreshed during tenant turnovers in 2024. The full unfinished basement provides ample storage space along with a shared laundry room. Additional features include central boiler heat, tenant-paid electricity and cooking gas, and off-street parking. Located near Powderhorn Park, with convenient access to I-35W and nearby shopping, dining, and neighborhood amenities. Whether you're looking to offset your housing expenses with rental income or expand your investment portfolio, this fourplex offers flexibility and opportunity in South Minneapolis.

Full Property Details for 3548 Portland Ave

General

  • Price: $569,900
  • Taxes: $9,895 (2026)
  • Status: Coming Soon
  • Type: Multi-Family
  • Source: NorthStarMLS_RMLS
  • MLS ID: 7133594
  • Updated: 11/2/2026
  • Added to Site: 8 day(s) ago
  • Expected Market Date: 11/20/2026

Rooms

Bathrooms

  • Total Bathrooms: 4

Bedrooms

  • Total Bedrooms: 8

Other Rooms

  • Laundry: Lower Level, Laundry Room, Lower Level, Laundry Room

Parking

  • Parking Features: Asphalt, Parking Lot, Paved Lot

Location

  • County: Hennepin
  • Township: Minneapolis
  • Subdivision: Clinton Ave Add
  • Neighborhood: 11
  • Driving Directions: Go East on 35th ST. Turn right and go South on Portland Ave. Property is on the right.

School Information

  • School District: 1 - Minneapolis
  • High School District: Minneapolis

Heating & Cooling

  • Heating Type: Boiler, Radiator
  • Heating Fuel: Natural Gas

Utilities

  • Sewer: City Sewer Connected
  • Water: City Water (Connected)

Structural Information

  • Exterior Const.: Frame
  • Basement: Yes
  • Basement Desc.: Full, Unfinished
  • Foundation Size: 2048
  • Roof: Flat, Rubber
  • Disability Access: None
  • Square Feet: 4,096
  • Above Ground: 4,096 Sq. Ft.
  • Below Ground: 2,048 Sq. Ft.
  • Finished Down/Base.: 6,144 Sq. Ft.
  • Year Built: 1923

Unit Information

  • Units w/Refrigerators: 4

Lot Features

  • Lot Size (Acres): 0.12
  • Lot Dimensions: .12
  • Frontage: City Street
  • Zoning: Residential-Multi-Family
  • Lot Description: Medium Tree Coverage
  • Fencing (Description): Chain Link, Partial

Financial Considerations

  • Operating Expenses: $42,284
  • Tax Amount: $9,895
  • Tax Year: 2026
  • Terms: Conventional, Cash
  • Owner Pays: Gas, Heat, Hot Water, Insurance, Grounds Care, Repairs, Sewer, Snow Removal, Taxes, Trash Collection, Water
  • Tenant Pays: Electricity
  • Pays Electric: Tenant Pays
  • Pays Gas: Owner Pays
  • Pays Heat: Owner Pays
  • Pays Trash: Owner Pays
  • Pays Water: Owner Pays

Disclosures and Reports

  • Legal Description: LOT 013 BLOCK 008 CLINTON AVENUE ADDN TO MPLS
  • Property ID: 302824410146

Listed by Peritus Real Estate

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— 3548 Portland Ave —

  • Peritus Real Estate

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

Schools serving 3548 Portland Ave

School District:Minneapolis Public School District
NameGradesDistance
Lyndale Elementary School
312 West 34th Street, Minneapolis, MN 55408
PK-50.8 mi
Justice Page Middle School
1 West 49th Street, Minneapolis, MN 55419
6-81.8 mi
Washburn Senior High School
201 West 49th Street, Minneapolis, MN 55419
9-121.8 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 3548 Portland Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
11/02/2026
Listed
$569,900
5.54%
MLS
12/04/2023
Sold
$540,000
—
Public Record
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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 3548 Portland Ave

Year
Property Taxes
Change
Tax Assessment
Change
2025
$9,895
4%
$521,000
—
2024
$9,502
3%
$521,000
-10%
2023
$9,230
-1%
$577,000
—
2023
$9,284
—
$576,600
25%
2023
$9,284
25%
$462,000
10%
2020
$7,424
-7%
$420,000
-4%
2019
$7,959
17%
$438,500
18%
2018
$6,812
6%
$371,500
8%
2017
$6,447
-3%
$344,000
—
2016
$6,652
10%
$344,000
15%
2015
$6,068
7%
$299,000
15%
2014
$5,678
-3%
$260,000
11%
2013
$5,869
—
$234,500
—
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 Peritus Real Estate

3548 Portland Avenue, Minneapolis, MN 55407 (MLS# 7133594) is a Multi-Family property with 4 units containing 8 bedrooms and 0 full bathrooms. 3548 Portland Avenue is currently listed for $569,900 and was received on November 02, 2026. Want to learn more about 3548 Portland Avenue? Do you have questions about finding other Multi-Family real estate for sale in Powderhorn? You can browse all Powderhorn real estate or contact a Coldwell Banker agent to request more information.

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