For Sale: Saint Paul MLS# 7104912
Active Contingent
$565,000
Commercial: 2 Stories
7 br • 7 ba • Built 1958
0.162 acres
St. Paul schools
MLS# 7104912
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Property Description
Investors who have been looking for a clean, cashflowing property, this may be just what you've been looking for! This well maintained 7 unit building is an easy to operate, easy to manage investment at a price that is hard to find in today's market.
All seven one bedroom units are occupied, six of the seven residents have been in place for more than two years, and there has been no turnover in the past twelve months. The seller has invested thousands in upgrades, including a new boiler in 2024 and an updated water heater in 2022. Leases already include utility chargebacks for water, sewer, and trash, putting roughly $3, 000 per year back on the bottom line.
There is also untapped income sitting on the table. Parking and storage are currently offered at no charge, and rents average under $900 against a market in the $970 to $1, 050 range.
A buyer willing to put in a little work on marketing and presentation, professional photos and floor plans are already on file, has real income upside waiting to be captured.
The location could not be more convenient. Centrally positioned between the downtowns, roughly 10 minutes to downtown St Paul and 15 minutes to downtown Minneapolis, just north of I-94, and about a 5 minute walk (0.3 miles) to the Green Line's Snelling Avenue Station.
The A Line rapid bus and local routes on Snelling and University are a short walk away, and Allianz Field, Hamline University, and the Midway's shopping and restaurants are all close by.
A cared for building with dependable income today and real upside for the buyer ready to roll up their sleeves and capture it.
Listing
Listing Status:
Active Contingent
Contingency:
Inspection
List Price:
$565,000
Property Type:
Commercial
City:
Saint Paul
Garage Spaces:
0
County:
Ramsey
Year Built:
1958
State:
MN
Property Style:
2 Stories
Zip Code:
55104
Neighborhood/Area:
96
Subdivision Name:
Milham Park, Ramsey Co, , Minn
Interior
Bedrooms:
7
Bathrooms:
7
Flooring:
Carpet, Luxury Vinyl Plank, Tile
Exterior
Stories:
Two
Garage Spaces:
0
Air Conditioning:
Wall Unit(s), Window Unit(s)
Foundation Size:
3,500 ft2
Handicap Accessible:
None
Heating System:
Boiler
Parking Features:
Parking Lot
Roof Details:
Age Over 8 Years
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.162
Geolocation:
44.953227, -93.170441
Inclusions:
Building, Land, Leases, Rental License
Lot Dimensions:
120 x 60
Zoning:
- Business/Commercial
- Residential-Multi-Family
Schools
School District:
625
District Phone:
6517678100
Expenses
Annual Electric Expense:
$371
Annual Fuel Expense:
$2,730
Annual Insurance Expense:
$4,374
Annual Trash Expense:
$1,969
Annual Water/Sewer Expense:
$3,152
Tenant Expenses:
Electricity, Heat, Hot Water, Insurance, Sewer, Trash Collection, Water
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$13,498
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$14,112
Income
Annual Gross Income:
$74,920
Units
Total Units:
7
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 MRG Realty Partners, LLC.
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.