For Sale: Saint Paul MLS# 7105205
Active
$720,000
Commercial: 2 Stories
8 br • 8 ba • Built 1913
0.147 acres
St. Paul schools
MLS# 7105205
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Property Description
1562 Edmund Avenue presents a premier opportunity to acquire a fully occupied, turnkey 8-unit apartment community situated in the heart of St. Paul's vibrant Hamline-Midway neighborhood. Offered at an accessible price point of $720, 000 ($90, 000/unit), this classic asset delivers immediate, stable cash flow from day one, serving as an ideal vehicle for both private capital investors seeking reliable yield and seasoned operators looking to expand their Twin Cities footprint.
This building features highly functional, easy-to-manage layouts that are perpetually in high demand. Tenants benefit from on-site, coin-operated laundry infrastructure located in the basement, while landlord expenses are streamlined by efficient utility structures. Each tenant has their own electric and gas meters.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$720,000
Property Type:
Commercial
City:
Saint Paul
Garage Spaces:
0
County:
Ramsey
Year Built:
1913
State:
MN
Property Style:
2 Stories
Zip Code:
55104
Neighborhood/Area:
93
Subdivision Name:
Hamline Syndicate Add, No3
Interior
Bedrooms:
8
Bathrooms:
8
Exterior
Stories:
Two
Garage Spaces:
0
Foundation Size:
1,456 ft2
Handicap Accessible:
None
Heating System:
- Boiler
- Other
Parking Features:
On-Street Parking Only
Roof Details:
- Asphalt
- Flat
- Pitched
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.147
Geolocation:
44.9581, -93.166259
Inclusions:
Building, Leases
Lot Dimensions:
60 x 122 x 57 x 118
Zoning:
Residential-Multi-Family
Schools
School District:
625
District Phone:
6517678100
Expenses
Annual Electric Expense:
$1,000
Annual Insurance Expense:
$8,163
Annual Maintenance Expense:
$2,781
Annual Trash Expense:
$5,400
Annual Water/Sewer Expense:
$3,523
Tenant Expenses:
Electricity, Gas
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$12,016
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$12,016
Income
Annual Gross Income:
$67,284
Rent
Annual Net Income:
$28,197
Units
Total Units:
8
Miscellaneous
Current Use:
Residential
Fuel System:
- Electric
- Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
Electric 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 Financially Free, 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.