For Sale: Saint Paul MLS# 7105907
Active
$810,000
Commercial: 2 Stories
13 br • 9 ba • Built 1911
0.109 acres
St. Paul schools
MLS# 7105907
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Property Description
563 Charles Avenue offers an exceptional multifamily investment featuring a stable, cash-flowing operational foundation with immediate built-in upside. Priced at $810, 000, this 9-unit apartment asset delivers an incredibly rare entry-level basis of just $90, 000 per door in St. Paul’s resilient Hamline-Midway submarket. Boasting a strong historical occupancy profile, the building is currently 8/9 occupied, presenting buyers with the perfect mix of day-one cash flow and immediate lease-up potential. All tenants but pay for gas and electric, with the exception of one unit only paying electric.
Spanning 5, 620 square feet of rentable area, the property is characterized by easy-to-manage, practical layouts that consistently appeal to the neighborhood's deep pool of student and workforce renters. A massive competitive advantage for this asset is the inclusion of a 2-stall detached garage structure—a highly prized luxury during Minnesota winters that gives management a distinct edge in tenant retention and extra monthly cash flow. Shared coin-operated laundry infrastructure further supplements the building’s strong baseline revenue.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$810,000
Property Type:
Commercial
City:
Saint Paul
Garage Spaces:
2
County:
Ramsey
Year Built:
1911
State:
MN
Property Style:
2 Stories
Zip Code:
55104
Neighborhood/Area:
93
Subdivision Name:
Hamline Syndicate Add, No3
Interior
Bedrooms:
13
Bathrooms:
9
Exterior
Stories:
Two
Garage Spaces:
2
Foundation Size:
1,464 ft2
Handicap Accessible:
Other
Heating System:
Boiler
Parking Features:
On-Street Parking Only
Roof Details:
- Asphalt
- Flat
Lake & Waterfront
Waterfront Present:
N
Lot & Land
Acres:
0.109
Geolocation:
44.957694, -93.166295
Inclusions:
Building, Leases
Lot Dimensions:
12 x 29 x 121 x 39 x 113
Zoning:
Residential-Multi-Family
Schools
School District:
625
District Phone:
6517678100
Expenses
Annual Electric Expense:
$152
Annual Fuel Expense:
$834
Annual Insurance Expense:
$8,296
Annual Maintenance Expense:
$2,943
Annual Trash Expense:
$5,400
Annual Water/Sewer Expense:
$5,933
Tenant Expenses:
Electricity, Gas
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$12,250
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$12,250
Income
Annual Gross Income:
$85,953
Rent
Annual Net Income:
$40,885
Units
Total Units:
9
Miscellaneous
Current Use:
Residential
Fuel System:
- Electric
- Natural Gas
Owner Occupied:
No
Sewer System:
City Sewer/Connected
Available Utilities:
Electric Separate
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.