For Sale: Saint Paul MLS# 7037701
Active Contingent
$775,000
Commercial: 2 Stories
9 br • 6 ba • Built 1916
0.119 acres
St. Paul schools
MLS# 7037701
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Property Description
This well-maintained six-unit apartment building in the highly sought-after Merriam Park neighborhood of St. Paul presents an outstanding investment opportunity. Ideally situated just on Selby Avenue, the property offers convenient access to public transportation, local shops, restaurants, and nearby universities—making it consistently desirable for tenants. The building features four spacious above ground units, each offering approximately 950 square feet, with two bedrooms plus a sunroom. These units showcase beautiful original woodwork, hardwood floors, and classic built-in buffets that add charm and character. The garden level includes two units: one efficiency and one one-bedroom, providing a diverse unit mix that appeals to a range of renters. Recent updates include a new roof (2018) and all-new separate electrical panels (2017), ensuring modern functionality and peace of mind for ownership. This property has been meticulously cared for and demonstrates strong rental appeal, resulting in excellent cash flow. With its prime location, timeless features, and solid financial performance, this property is a smart addition to any investment portfolio.
Listing
Listing Status:
Active Contingent
Contingency:
Inspection
List Price:
$775,000
Property Type:
Commercial
City:
Saint Paul
Garage Spaces:
0
County:
Ramsey
Year Built:
1916
State:
MN
Property Style:
2 Stories
Zip Code:
55104
Neighborhood/Area:
96
Subdivision Name:
Skidmore & Cassedys, Park Add
Interior
Bedrooms:
9
Bathrooms:
6
Refrigerators:
Six or More
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
2,400 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Boiler
Parking Features:
On-Street Parking Only
Roof Details:
Age 8 Years or Less
Lot & Land
Acres:
0.119
Geolocation:
44.946808, -93.17367
Inclusions:
Building
Lot Dimensions:
47 x 109
Zoning:
Residential-Multi-Family
Schools
School District:
625
District Phone:
6517678100
Expenses
Annual Fuel Expense:
$5,186
Annual Insurance Expense:
$5,700
Annual Trash Expense:
$1,105
Annual Water/Sewer Expense:
$1,604
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$15,622
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$15,622
Income
Annual Gross Income:
$92,388
Rent
Annual Net Income:
$60,772
Units
Total Units:
6
Miscellaneous
Current Use:
Residential
Fuel System:
Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
- Electric Separate
- Heating Common
Water System:
City Water/Connected
Power Company Name:
Xcel Energy
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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 Edina Realty, 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.