3108 Elliot Ave, Minneapolis, MN

About this home

Rare opportunity to acquire a tri-plex with below-market financing! 2.5% ASSUMABLE LOAN SAVE $700-$800/MO/$9000 ANNUALLY vs todays 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.

Listed by

Property details

Price

$525,000

Bedrooms

9

Bathrooms

3

Interior

3,052 sqft

Price / sqft

$172

Year built

1894

Lot size

4,792 sqft

Type

Multi-Family

Days on market

72

Est. property tax

$5,828/yr · $486/mo · 1.11% MN avg

Last sold

$475,000 · Jun 2021

Estimated monthly payment

Price history

▼ 4.5%Most recent change on 2026-05-05: $550,000 → $525,000.

1. May 5, 2026$525,000Price change
2. Mar 25, 2026$550,000Price change
3. Mar 11, 2026$575,000Initial list price
4. May 27, 2021$475,000Sold
5. Apr 16, 2021$425,000Initial list price
6. Jun 10, 2011$305,000Price change
7. Jun 1, 2004$313,300Sold
8. Dec 17, 2002$275,000Sold
9. May 17, 2002$305,000Initial list price
10. Jul 12, 2001$270,000Sold
11. Dec 15, 1997$195,000Sold
12. May 29, 1997$42,500Sold

Location

This home is located in Minneapolis, MN. Browse more Minneapolis listings on the Minneapolis market page or explore the full Minneapolis market report.

About Minneapolis: Minneapolis is a city in Hennepin County, Minnesota, United States, and its county seat. With a population of 429,954 as of the 2020 census, it is the state's most populous city. Located in the state's center near the eastern border, it occupies both banks of the Upper Mississippi River and adjoins Saint Paul, the state capital of Minnesota. Minneapolis, Saint Paul, and the surrounding area are collectively known as the Twin Cities, a metropolitan area with 3.69 million residents. Minneapolis is built on an artesian aquifer on relatively flat terrain and is known for cold, snowy winters and hot, humid summers. Nicknamed the "City of Lakes", Minneapolis is abundant in water, with thirteen lakes, wetlands, the Mississippi River, creeks, and waterfalls. The city's public park system is connected by the Grand Rounds National Scenic Byway. (source: Wikipedia)

Climate: Average year-round temperature is 48°F with 219 dry days per year and 38.9 inches of annual rainfall.

Location

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Neighborhood (zip 55407)

Median age is 33.7; 31% hold a bachelor's degree; 61% of homes are owner-occupied; median household income is $74,518.

Median income

$74,518

Median age

33.7

Owner-occupied

60.5%

Bachelor's degree

31.0%

Census median home value

$291,500

Source: US Census Bureau American Community Survey 5-year estimates.

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