For Sale: Saint Paul MLS# 6800418
Active
NEW!
$1,695,000
Commercial: Apartments
Built 1968
0.41 acres
St. Paul schools
MLS# 6800418
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Property Description
Ohio Apartments offers a new owner a turn-key investment opportunity with 15 well appointed units plus 8 garages. The unit mix consists of 8 two-bedroom, 1 bath and 7 one-bedroom, 1 bath apartments spread out over three full stories. Charming curb appeal with full brick exterior in great condition, newer windows, newer gutters and roof facia, and a decorative black front entrance awning. Resting on almost a half acre and nicely landscaped with a newer asphalt parking lot and an attractive retaining wall. All but one of the apartments has been renovated with luxury vinyl plank flooring, new kitchen cabinets and hardware, new quartz countertops, stainless steel energy efficient appliance package including dishwashers, carpet in bedrooms, and ceiling fans. The building has received newer vinyl replacement windows throughout and the common spaces were recently carpeted and freshly painted. The laundry room has been remodeled and offers tenants coin-operated speed queen washers and dryers with credit card readers. This asset is definately in above average condition and would make the perfect 1031 tax exchange purchase. Very low historical vacancy and easy to rent being close to downtown Saint Paul, MN, West St.Paul and Mendota Heights, MN.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,695,000
Property Type:
Commercial
City:
Saint Paul
Garage Spaces:
8
County:
Ramsey
Year Built:
1968
State:
MN
Property Style:
Apartments
Zip Code:
55107
Neighborhood/Area:
West Side
Subdivision Name:
Dawsons Add
Interior
Ceiling Height:
8-10
Ranges:
One Per Unit
Refrigerators:
One Per Unit
Appliances Included:
- Dishwasher
- Range
- Refrigerator
Basement Details:
- Finished
- Full
Exterior
Stories:
Three Or More
Garage Spaces:
8
Other Parking Spaces:
15
Air Conditioning:
Wall Unit(s)
Foundation Size:
4,500 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Boiler
Parking Features:
Parking Lot
Unit Amenities:
- Ceiling Fan(s)
- Walk-In Closet
Road Frontage:
City Street
Exterior Material:
Brick/Stone
Roof Details:
- Age Over 8 Years
- Flat
Lot & Land
Acres:
0.41
Geolocation:
44.930847, -93.098111
Inclusions:
Building, Land, Leases, Rental License
Lot Dimensions:
100 x 200
Zoning:
Residential-Multi-Family
Lot Description:
- Corner Lot
- Some Trees
Farm
Topography:
Hilly
Schools
School District:
625
District Phone:
651-767-8100
Expenses
Annual Electric Expense:
$2,397
Annual Fuel Expense:
$6,950
Annual Insurance Expense:
$8,500
Annual Gross Expense:
$83,062
Annual Trash Expense:
$7,387
Annual Water/Sewer Expense:
$5,222
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$30,606
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$30,606
Income
Annual Gross Income:
$208,074
Rent
Annual Net Income:
$125,011
Units
Total Units:
15
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Common
- Hot Water Common
Water System:
City Water/Connected
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Apartment Cash Flow, Inc..
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.