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218 N 1st Ave, 
Ely, MN 55731

$198,500

2

Beds

2

Baths

1,636

Sq Ft

Multi-Family

Active

Listed by

Anna Yahnke

Bear Island Realty LLC.

Last updated:

October 12, 2026, 03:54 PM

MLS#

6128015

Source:

MN DAAR

About This Home

218 N 1st Ave

Investment opportunity in the heart of Ely! Turnkey dual-income potential. This beautifully maintained duplex features two freshly updated, independent living spaces with modern conveniences throughout. Main Level Unit offers 1+ bedrooms, an updated full bath, and a bright, spacious kitchen with a dedicated dining area. Enjoy single-level convenience complete with a large mudroom and main-floor laundry. Upper-Level Unit is a freshly renovated 1-bedroom apartment featuring an open-concept kitchen, dining, and living area, plus an oversized bathroom with built-in laundry. Enjoy peace of mind with a fully compliant sewer lateral already completed. Separate laundry setups and strong functional layouts make this a low-maintenance, high-demand addition to any portfolio.

Home Facts

Multi-Family

2 Baths

2 Bedrooms

Built in 1920

Price Summary

198,500

$121 per Sq. Ft.

MLS #:

6128015

Last Updated:

October 12, 2026, 03:54 PM

Added:

a month ago

Rooms & Interior

Bedrooms

Total Bedrooms:

2

Bathrooms

Total Bathrooms:

2

Interior

Living Area:

1,636 Sq. Ft.

Structure

Structure

Building Area:

1,636 Sq. Ft.

Year Built:

1920

Lot

Lot Size (Sq. Ft):

6,534

Finances & Disclosures

Finances

Price:

$198,500

Price per Sq. Ft:

$121 per Sq. Ft.

Source:MN DAAR
2026, Lake Superior Area REALTORS, Inc.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.