$2,700,000
Saint Paul, MN 55118
MLS# 6510083
Status: Closed
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Property Description
Two 12-Unit apartment complexes that sit on 2.7 acres in West St. Paul conveniently located on bus route near main retail corridor. Complex has been professionally managed and maintained with 100% occupancy ready for new owner. Brick front buildings consist of 12 - 2 Bedroom units, 2 - 1 Bedroom with Den units, and 10 - 1 Bedroom units. Each unit is allotted a garage and one parking space in private parking lot. Two (owned) sets of coin operated laundry machines are located in each building with individual storage closet for each unit. Recent updates include: Hallways painted 2024, garage roofs 2023, A/C units 2022, hallway carpeting & trim 2020, and garage doors replaced 2018. Rents all are currently under local averages for this West St. Paul area & lots of room for increased cap performance. Financials and rent rolls available upon request. We encourage your questions and inquiries prior to scheduling showings. More photos coming soon.
Details
Maps
Contract Information
Status: Closed
Off Market Date: 2024-07-31
Current Price: $2,700,000
Closed Date: 2024-10-15
Sales Close Price: 2700000
Contingency: None
ListPrice: 2999900
List Date: 2024-03-29
Owner is an Agent?: No
Auction?: No
General Property Information
Lot Measurement: Acres
Management Company Name: Chill Properties LLC
Multiple PIDs?: Yes
Other Parking Spaces: 24
Owner Occupied: No
Year Built: 1978
Yearly/Seasonal: Yearly
Zoning: Residential-Multi-Family
Foundation Size: 12732
Garage Stalls: 24
Management Company Phone: 651-283-9853
Power Company: Xcel Energy
For Sale or Lease: For Sale
Acres: 2.77
Lot Dimensions: 2.77 ACRES
Assessment Pending: Unknown
Location Tax and Other Information
House Number: 1508
Street Name: Allen
Street Suffix: Avenue
Postal City: Saint Paul
County: Dakota
State: MN
Zip Code: 55118
Complex/Dev/Subdivision: Coverdale Add
Additional Parcels Information
Property ID #2: 421850001082
Assessments
Assessment Balance: 9500
Tax With Assessments: 38190
Basement
Foundation Dimensions: 66x94
Building Information
Building Finished SqFt: 30744
Ceiling Height: 8-10
Income and Expenses
Annual Electric Expense: 1600
Annual Gross Expenses: 99440
Annual Gross Income: 287340
Annual Insurance Expense: 1600
Annual Maintenance Expense: 12000
Annual Net Income: 175900
Annual Trash Expense: 450
Annual Water/Sewer Expense: 1325
Total Annual Expenses: 111440
Lease Details
Land Leased: Not Applicable
Miscellaneous Information
Homestead: No
Ownership
Fractional Ownership: No
Parking Characteristics
Garage Dimensions: Two Buildings of 22x120
Garage Door Height: 7
Garage Door Width: 8
Garage Square Feet: 5280
Public Survey Info
Range#: 22
Section#: 19
Township#: 28
Sale Options
Sale Includes: Building, Leases
Unit 1
No. of 1 Bedroom Units: 12
Unit 2
No. of 2 Bedroom Units: 12
Unit Details
Total Units: 24
Property Features
Accessible: None
Air Conditioning: Window Unit(s)
Amenities Shared: Coin-op Laundry Owned
Amenities Unit: Deck; Patio
Appliances: Range; Refrigerator
Assumable Loan: Not Assumable
Basement: None
CMU Style: Apartments/Multi Family; Common Wall
Construction Status: Previously Owned
Current Use: Residential
Exterior: Brick/Stone
Fencing: None
Financing Terms: Conventional
Fuel: Electric; Natural Gas
Heating: Baseboard
Loan Terms: Cash; FHA
Location Description: Free Standing
Lot Description: Corner Lot; Public Transit (w/in 6 blks); Tree Coverage - Light
On Site Utilities: Electric Common; Heating Common; Hot Water Common
Overhead Door Clearance: 0-9 Feet
Owner Pays: Common Area Maintenance; Electricity; Exterior Maintenance; Grounds Care; Heat; Insurance; Lawn; Lawn; Maintenance/Repair; Repairs; Sewer; Snow Removal; Taxes; Trash Collection; Water
Pool Description: None
Rental License Type: Standard
Road Frontage: City Street
Road Responsibility: Public Maintained Road
Roof: Age 8 Years or Less; Flat
Sewer: City Sewer/Connected
Stories: Two
Tenant Pays: Broadband; Cable TV; Electricity
Topography: Level
Wall Description: Drywall
Water: City Water/Connected
Window Features: Aluminum Frames
Listing Office: Minnesota Realty Company
Last Updated: August - 07 - 2025
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity SM Program of the Regional Multiple Listing Service of Minnesota, Inc. The information provided is deemed reliable but not guaranteed. Properties subject to prior sale, change or withdrawal. ©2024 Regional Multiple Listing Service of Minnesota, Inc All rights reserved.