3108 Elliot Avenue, Minneapolis, MN 55407 (MLS# 7024111)

General Property Information

Lot Measurement: Square Feet
Multiple PIDs?: No
Waterfront Present: No
Year Built: 1894
Yearly/Seasonal: Yearly
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
Garage Stalls: 0

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

Contract Information

Contingency: None
Original List Price: 575000
ListPrice: 525000
Owner is an Agent?: No
Auction?: 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
Assessment Balance: 0

Building Information

Finished SqFt Above Ground: 3052

More Information

Income and Expenses

Annual Gross Income: 52000
Annual Caretaker Expense: 0
Annual Electric Expense: 0
Annual Fuel Expense: 0
Annual Gross Expenses: 0
Annual Insurance Expense: 0
Annual Maintenance Expense: 0
Annual Net Income: 0
Annual Repair Expense: 0
Annual Trash Expense: 0
Annual Water/Sewer Expense: 0
Misc Monthly Income: 0
Misc. Annual Income: 0
Total Annual Expenses: 0

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: Yes
Annual Rent: 19440
Finished SqFt: 1166
Full Baths: Yes
Monthly Expense: 100
Monthly Rent: 1620
No. of Units Like This: Yes
Total Baths: Yes
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: Yes
Monthly Expense: 100
Monthly Rent: 1395
No. of Units Like This: Yes
Total Baths: Yes
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: Yes
Monthly Expense: 100
Monthly Rent: 1320
No. of Units Like This: Yes
Total Baths: Yes
Total Bedrooms: 3
Total Rooms: 7

Unit Details

Total Units: 3

Office/Member Info

Association: SPAAR

Location, Tax and Other Information

Legal Description: LOT 003 BLOCK 003 THE ERASTUS BYERS ADDN TO MPLS
Listing City: Minneapolis
Map Page: 106
Municipality: Minneapolis
School District: Minneapolis
School District Phone: 612-668-0000
Property ID Number: 0202824210099
Tax Year: 2025
Tax Amount: 6926
In Foreclosure?: No
Potential Short Sale?: No
Lender Owned?: No

Directions & Remarks

Public Remarks: 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.
Directions: 35W Exit 15A 31st St east, take right on Chicago then quick left on 31st St then right on Elliot Ave.

Accessible

None: Yes

Assumable Loan

Yes w/ Qualifying: Yes

Basement

Concrete Block: Yes
Storage Space: Yes

Construction Status

Previously Owned: Yes

Exterior

Stucco: Yes

Foundation

Stone: Yes

Fuel

Natural Gas: Yes

Heating

Baseboard: Yes
Boiler: Yes

Laundry

Common Area: Yes
In Basement: Yes

Lock Box Type

Combo: Yes

Parking Characteristics

Driveway - Shared: Yes

Sellers Terms

Assumable: Yes
Cash: Yes
Conventional: Yes
FHA: Yes
VA: Yes

Sewer

City Sewer/Connected: Yes

Water

City Water/Connected: Yes

3108 Elliot Avenue, Minneapolis, MN 55407

Overview

Description

Listing Details MLS# 7024111