For Sale: Saint Paul MLS# 6739015
Active
NEW!
$1,449,000
Commercial: Apartments
Built 1940
0.17 acres
St. Paul schools
MLS# 6739015
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Property Description
Charles Place apartments presents a unique value-add investment opportunity right in the heart of Saint Paul within walking distance to the newly built Allianz Stadium where the MN United soccer team plays! This whole Merriam Park neighborhood currently is in an opportunity zone and is getting transformed into a trendy and upscale destination. Take advantage of this opportunity to acquire 15 units, all-brick exterior, built in 1940 with original oak hardwood flooring and original doors and plaster coved ceilings. All units are currently occupied and leased and ready for new owners to take over!! Stabilized with zero delinquencies - 6.87% Cap Rate!!
Listing
Listing Status:
Active
Contingency:
None
List Price:
$1,449,000
Property Type:
Commercial
City:
Saint Paul
Garage Spaces:
0
County:
Ramsey
Year Built:
1940
State:
MN
Property Style:
Apartments
Zip Code:
55104
Neighborhood/Area:
Hamline-Midway
Subdivision Name:
Stierle, Mcconville &, Seegers
Interior
Ceiling Height:
8-10
Ranges:
One Per Unit
Refrigerators:
One Per Unit
Appliances Included:
- Range
- Refrigerator
Basement Details:
- Concrete
- Daylight/Lookout Windows
- Finished
- Full
- Partially Finished
Exterior
Stories:
Three Or More
Garage Spaces:
0
Other Parking Spaces:
1
Air Conditioning:
Window Unit(s)
Foundation Size:
3,420 ft2
Handicap Accessible:
None
Road Responsibility:
Public Maintained Road
Heating System:
- Boiler
- Hot Water
Parking Features:
On-Street Parking Only
Shared Amenities:
None
Road Frontage:
City Street
Exterior Material:
Brick/Stone
Roof Details:
- Age Over 8 Years
- Flat
Lot & Land
Acres:
0.17
Geolocation:
44.957727, -93.169115
Inclusions:
Building, Land, Leases, Rental License
Lot Dimensions:
50 x 120
Zoning:
Residential-Multi-Family
Lot Description:
Some Trees
Farm
Topography:
Level
Schools
School District:
625
District Phone:
651-767-8100
Expenses
Annual Caretaker Expense:
None
Annual Electric Expense:
$1,200
Annual Fuel Expense:
$4,220
Annual Insurance Expense:
$6,500
Annual Maintenance Expense:
$3,750
Annual Gross Expense:
$50,956
Annual Trash Expense:
$2,587
Annual Water/Sewer Expense:
$5,956
Tenant Expenses:
Electricity
Financial & Taxes
Tax Year:
2025
Annual Taxes:
$24,792
Lender-owned:
No
Assessment Pending:
No
Taxes w/ Assessments:
$24,792
Income
Annual Gross Income:
$150,509
Rent
Annual Net Income:
$99,553
Units
Total Units:
15
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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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.