For Sale: Saint Paul MLS# 6815535
Active
$2,600,000
Commercial: Apartments
Built 1963
0.52 acres
St. Paul schools
MLS# 6815535
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Property Description
This is an amazing opportunity to acquire a solid well-built 23-unit apartment building close to the Cherokee Park neighborhood of Saint Paul and near West Saint Paul & South St. Paul cities in Minnesota.
Built in 1963 the unit make-up is twelve 2-bedroom and eleven 1-bedroom apartments all with one full bathroom. Beautiful all-brick exterior with three stories and spread across an oversized 0.52-acre corner lot. Fully rented, on-site coin laundry and a newer hot water heater! Average two-bedroom rents are at $1, 184 and one-bedroom rents at $1, 049. There are five two-car double garages that are 100% occupied and bring in extra cash flow. Located on a bus route and near highways 52, 494, and 94
729 Oakdale Ave is the perfect investment property to buy with doing a 1031 IRC tax exchange from the sale of your smaller 4-10 units. Increase your monthly cash flow and take advantage of your tax benefits with new depreciation.
Listing
Listing Status:
Active
Contingency:
None
List Price:
$2,600,000
Property Type:
Commercial
City:
Saint Paul
Garage Spaces:
10
County:
Ramsey
Year Built:
1963
State:
MN
Property Style:
Apartments
Zip Code:
55107
Neighborhood/Area:
West Side
Subdivision Name:
The W St Paul Re&Imp Synd 1
Interior
Ceiling Height:
8-10
Ranges:
One Per Unit
Refrigerators:
One Per Unit
Appliances Included:
- Range
- Refrigerator
Basement Details:
- Egress Window(s)
- Finished
- Full
Exterior
Stories:
Three Or More
Garage Spaces:
10
Other Parking Spaces:
20
Air Conditioning:
Wall Unit(s)
Foundation Size:
6,600 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
Hot Water
Parking Features:
- Detached
- Parking Lot
Road Frontage:
City Street
Exterior Material:
Brick/Stone
Roof Details:
- Age Over 8 Years
- Flat
- Rubber
Lot & Land
Acres:
0.52
Geolocation:
44.924323, -93.078211
Inclusions:
Building, Land, Rental License
Lot Dimensions:
200 x 110
Zoning:
Residential-Multi-Family
Lot Description:
Corner Lot
Farm
Topography:
Level
Schools
School District:
625
District Phone:
651-767-8100
Expenses
Annual Caretaker Expense:
$15,618
Annual Electric Expense:
$2,100
Annual Fuel Expense:
$120,000
Annual Insurance Expense:
$14,250
Annual Maintenance Expense:
$7,475
Annual Gross Expense:
$125,889
Annual Water/Sewer Expense:
$20,300
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$43,226
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$43,226
Income
Annual Gross Income:
$312,366
Rent
Annual Net Income:
$186,477
Units
Total Units:
23
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
Mortgage Calculator
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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 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.