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Ely,MN 55731
Key Details
Property Type Multi-Family
Sub Type Duplex Side by Side
Listing Status Active
Purchase Type For Sale
Square Footage 4,164 sqft
Price per Sqft $79
MLS Listing ID 6565305
Year Built 1910
Annual Tax Amount $4,538
Tax Year 2024
Contingent None
Lot Size 6250.000 Acres
Acres 6250.0
Lot Dimensions 50x125
Property Description
Situated in the heart of Ely, MN — often hailed as one of the "Coolest Small Towns" and a gateway to the BWCA (Boundary Waters Canoe Area) you have an incredible investment opportunity! Perfect for short-term or long-term rentals the existing duplex with updated units is already generating steady income. Each unit has 2 BR/1BA and offers beautifully updated interiors, an attached garage, and laundry facilities. The roof was installed in 2019. Each unit is 748 sq. ft. The main house offers versatile opportunities — from creating a unique living space to setting up multiple rental units, Bed & Breakfast, or live in it yourself! It is gutted and ready for your imagination. Its former use was a 4-unit rental. Ely, MN is not just a small town; it’s a destination. With its historic charm, strong community, and influx of visitors year-round, investing in Ely means tapping into a market with consistent rental demand.
Location
State MN
County St. Louis
Zoning Residential-Multi-Family
Rooms
Basement Full,Slab
Interior
Heating Forced Air,Hot Water
Fireplace No
Exterior
Garage Detached
Roof Type Asphalt
Parking Type Detached
Building
Story Two
Foundation 390
Sewer City Sewer/Connected
Water City Water/Connected
Level or Stories Two
Structure Type Stucco
New Construction false
Schools
School District Ely