#6752871, Listing office: Coldwell Banker Realty
$900,000 List price
2601 Portland Ave Minneapolis, MN 55407
5,669 sqft
$159 / sqft
Multi-Family
Property details
About 2601 Portland Ave
Step into a rare opportunity with this architecturally grand Victorian triplex—originally built for Sylvester S. Cargill, brother of the founder of the Cargill Company—and steeped in Minneapolis history. Located just one block behind the American Swedish Institute and moments from Eat Street, Downtown, and major roadways, this property blends timeless elegance with forward-thinking flexibility. The home has been lovingly owner-occupied in the expansive main residence, while two additional one-bedroom units—the carriage house and a second-floor apartment—provide steady rental income. Current rents are below market, offering immediate upside for investors looking to optimize cash flow. But the income potential doesn't stop there. The lower level features a spacious bedroom, full plumbing, a bar, laundry, and a separate entry—perfectly positioned to become a third rental unit or short-term Airbnb. A professional darkroom/studio space on the same level opens doors for creative or small business use, ideal for buyers seeking a live/work configuration. On the uppermost floor, an unfinished attic offers the square footage and ceiling height to create a stunning fourth unit or an expansive owner's suite. The outdoor spaces are just as remarkable: a lush, private garden with a koi pond and a four-car garage—two bays heated and currently used as a workshop—enhance the usability and appeal for both tenants and owners. Whether you're a seasoned investor or a creative entrepreneur, 2601 Portland Avenue offers a rare combination of income potential, historical charm, and functional versatility in one of the city's most dynamic and evolving neighborhoods.
Highlights
Home typeTriplex
HeatingForced Air, Fireplace(s)
StatusActive
Size5,669 sqft
BasementYes
Year built1889
ParkingDetached, Concrete, Heated Garage
MLS #6731817
Garage4 spaces
Summary
- Basement: Yes
- Garage Space: 4 spaces
- Attached Garage: No
- Parking: Detached, Concrete, Heated Garage
- Heating: Forced Air, Fireplace(s)
- List Price: $900,000
- Price/SqFt: $158
- Annual Tax Amount: $6,702
- Tax Year: 2023
- Lot: Corner Lot, Many Trees
- Directions: 26th Avenue to Portland, South to Property. Located on the Southeast corner of Portland Avenue and 26th Street.
- Year Built: 1889
- Living Area: 5,669 SqFt
- MLS Number: 6731817
- MLS Name: NORTHSTAR
- Office Name: Lakes Sotheby's International Realty
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Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $511,000 | $6,702 |
| 2022 | $481,000 | $6,328 |
| 2021 | $396,000 | $5,468 |
| 2020 | $377,500 | $5,010 |
| 2019 | $374,235 | $5,720 |
| 2018 | $336,630 | $5,338 |
| 2017 | $274,500 | $4,454 |
History based on county public records data.
Nearby schools
2
Hennepin Elementary School
Public Charter KG-5
0.5 mi
•2123 Clinton Ave
2
Whittier International Baccalaureate World School
Public Magnet PK-5
0.8 mi
•315 W 26th St
3
Green Central Park Elementary School
Public District PK-5
1.1 mi
•3416 4th Ave S
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $26,842. Most Minneapolis, MN residents have annual incomes less than $<35k. Residents typically live in single, no kids family. Residents of this area typically have high school diploma education.
How much money do the neighbors make?
68%
<35k
21%
35k-100k
8%
100k-200k
3%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Doctorate
What types of families live nearby?
77%
Single, No Kids
12%
Single, with Kids
7%
Married, No Kids
4%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
13%
<11 yrs old
4%
12-17 yrs old
28%
18-34 yrs old
42%
35-64 yrs old
13%
65+ yrs old
What do the neighbors do for fun?
Major League Soccer (MLS)
Pro Boxing
Mexican League Soccer
Where do the neighbors shop?
H&M
Burlington
Foot Locker
Where do the neighbors go to eat?
Popeyes
Boston Market
White Castle
What do the neighbors drive?
Nissan
Honda
Kia
What do the neighbors listen to?
Rhythmic Contemporary Hits
Urban Adult Contemporary
All data provided by Home Junction and Claritas
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Frequently asked questions
About 2601 Portland Ave
The listing price of 2601 Portland Ave property is $900,000.
The property 2601 Portland Ave is a multi located in Minneapolis, Minnesota, 55407.
Active Listing: 2601 Portland Ave is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 2601 Portland Ave are: Hennepin Elementary School (GreatSchools Rating 2/10), Whittier International Baccalaureate World School (GreatSchools Rating 2/10), Green Central Park Elementary School (GreatSchools Rating 3/10), Aurora Middle School (GreatSchools Rating 1/10), Jefferson Elementary School (GreatSchools Rating 1/10), Loveworks Academy for Arts (GreatSchools Rating 1/10), Augsburg Fairview Academy (GreatSchools Rating 1/10), Loring-Nicollet High School (GreatSchools Rating 1/10), Merc (GreatSchools Rating 2/10).
According to the records, the last property tax for 2023 is $6,702 (source: MLS/based on county public records data).
The property 2601 Portland Ave is 5,669 SqFt (source: MLS/tax record).
The year of construction for 2601 Portland Ave is 1889.
This home is located at 2601 Portland Ave in Minneapolis, MN and zip code 55407 in the Phillips neighborhood. This 5,669 square foot home was built in 1889. Features: 0 bathroom. It has been listed on Rocket Homes since June 20, 2025 and is currently priced at $900,000.
Over 634 listings were sold over their listed price in June 2025 in Minneapolis, MN. In the same period over 363 listings were sold below the listed price and 245 listings were sold for the listed price. The number of listings in Minneapolis, MN increased by 3.4% between May and June 2025. While the average time on the market in June 2025 was 23 days, the median list price was $359,091.
From Rocket Homes Real Estate and based on county public records data.