For Sale: Saint Paul MLS# 6674058
Active
$895,000
Commercial: Apartments
Built 1890
0.15 acres
St. Paul schools
MLS# 6674058
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Property Description
DOUGLAS STREET FLATS IS A UNIQUE ONE PARCEL TWO BUILDING 8-UNIT INVESTMENT OPPORTUNITY VERY CLOSE TO DOWNTOWN SAINT PAUL, THE MALL OF AMERICA, AND THE MPLS/ST.PAUL INTERNATIONAL AIRPORT. THIS PROPERTY HAS BEEN VERY WELL MANAGED AND CARED FOR OVER THE YEARS. METICULOUSLY CLEAN AND WELL MAINTAINED! ORIGINALLY BUILT AND CONSTRUCTED IN 1890. RESIDENTS ENJOY HOW SPACIOUS THEIR UNITS ARE WITH OVER 800 SQUARE FEET AND HOW THEY FEEL LIKE INDIVIDUAL CONDOS WITH WINDOWS FACING THREE DIRECTIONS. EACH APARTMENT FEATURES A STACKABLE WASHER AND DRYER UNIT, HARDWOOD FLOORS, AND IS A CORNER UNIT. THE LOWER LEVELS HAVE SUPER LARGE STORAGE LOCKERS FOR RESIDENTS. CURRENTLY ALL THE UNITS ARE RENTED AND EACH TENANT PAYS FOR THEIR OWN SEPARATE ELECTRIC WHICH COVERS THE ELECTRIC BASEBOARD HEAT. OWNER PAYS FOR WATER, TRASH, AND GAS FOR WATER HEATERS. A NEW OWNER CAN RAISE RENTS ON LEASE RENEWALS TO CAPTURE A HIGHER RETURN ON THEIR INVESTMENT!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$895,000
Property Type:
Commercial
City:
Saint Paul
Garage Spaces:
0
County:
Ramsey
Year Built:
1890
State:
MN
Property Style:
Apartments
Zip Code:
55102
Neighborhood/Area:
West Seventh
Subdivision Name:
Samuel Leeches Add
Interior
Ceiling Height:
8-10
Ranges:
One Per Unit
Refrigerators:
One Per Unit
Appliances Included:
- Dishwasher
- Range
- Refrigerator
Basement Details:
- Full
- Storage/Locker
Exterior
Stories:
Two
Garage Spaces:
0
Other Parking Spaces:
0
Air Conditioning:
Window Unit(s)
Foundation Size:
3,600 ft2
Handicap Accessible:
None
Heating System:
Baseboard
Parking Features:
None
Exterior Material:
Vinyl Siding
Roof Details:
- Age Over 8 Years
- Flat
Lot & Land
Acres:
0.15
Geolocation:
44.939722, -93.110793
Inclusions:
Building, Land, Leases, Rental License
Lot Dimensions:
40 x 100
Zoning:
Residential-Multi-Family
Lot Description:
Some Trees
Farm
Topography:
Level
Schools
School District:
625
District Phone:
651-767-8100
Expenses
Annual Fuel Expense:
$5,876
Annual Insurance Expense:
$5,000
Annual Gross Expense:
$35,728
Annual Trash Expense:
$3,031
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$14,270
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$14,270
Income
Annual Gross Income:
$95,706
Rent
Annual Net Income:
$59,977
Units
Total Units:
8
Miscellaneous
Current Use:
Residential
Fuel System:
Electric
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Separate
- Hot Water Common
Water System:
City Water/Connected
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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.